Excerpted from: Frank McIntyre and Michael Simkovic, Are Law Degrees as Valuable to Minorities?, 53 International Review of Law & Economics (March, 2018) (FULL ARTICLE)
We estimate the increase in earnings from a law degree relative to a bachelor's degree for graduates of different race/ethnic groups. Law earnings premiums are higher for whites than for minorities (excluding individuals raised outside the U.S.). The median annual law earnings premium is approximately $41,000 for whites, $34,000 for Asians, $33,000 for blacks, and $28,000 for Hispanics. Law earnings premiums for whites, blacks and Hispanics have trended upward and appear to be gradually converging. Approximately 90% of law graduates are white compared to approximately 82% of bachelor's degree holders.