#CareerChange #LawSchool #RealEstate #Education #LifeDecisions
Hey everyone! 👋 Have you ever considered going back to school for a career change in your 30s? 🤔 Well, one of our community members is facing this dilemma and could use some advice!
Here’s the situation:
– Currently making around $100k/year as a real estate agent
– Accepted into law school with costs of $11k/semester + moving expenses
– Uncertain about future career path but interested in real estate law or government roles related to real estate
– Will have little income for 2-3 years, then potential salary of $60k/year during articling
– Concerned about lifestyle changes and impact on dating life
So, what do you think? Is going back to school at 33 worth it in this case? 🤷♂️ Share your thoughts, experiences, or any advice you have for our community member! And don’t forget to mention any possible solutions that could benefit them on this journey. Let’s help each other out! 💡 #CareerAdvice #LifeChoices #CommunitySupport
How old will you be in 4 years if you *don’t* take the opportunity?
I remember an old newspaper column about someone who based their decision on someone asking them this question, then was glad they did.
I went back to school at 30. For me it was well worth it. I don’t think it’s too late if that’s the real question you are asking. Whether it’s financially worth it? Maybe, you’ll take a bit of a hit now but potentially make much more later and recover. Will it make you happier? That’s an important question too, one only you can answer.
It may be worth looking at the earning potential for lawyers in the real estate field. Is your investment into education worth it?
Ultimately, none of us can answer if it is worth it to you. We can only ask questions for you to consider.
Is this something you are passionate about? Do you have the funds to be able to afford school/student lifestyle?
If it’s any comfort, I know someone who did it in her late 40s and also another person who did at 30. So, you are in good company. What you may want to consider is “will I be able to stand on my own after I complete this degree?”. It’s not about the yes or no response, as much as you exploring your options properly and planning ahead for eventualities.
I wish you all the best!
>Question is, is this even worth it? I’ll be around 36-37 by the time I start making any real money and feel like these are my prime earning years and will probably kill my dating life as well
I wouldn’t do it for the money. You’ll be better off sticking with what you are doing now and working on optimizing your spending so you are saving aggressively and investing effectively.
OTOH if being a lawyer is a dream and it would make you MUCH happier it could be worth it from a quality of life perspective.
I’m not much younger, and I’d take this chance for sure.
In my mind it’s glaringly obvious you should do it. Why because you want to. You’re still young, plus your realtor experience will help you be a great lawyer in that industry one day. How many lawyers can say they were realtors at one time and have real life experience????
Instead of thinking you’re too old, think how you can leverage your experience to be great at something!
I went back to school at 31, and am incredibly glad I took the plunge. By the time you finish you’ll still have 30~ years until retirement, and conveyance can be a very lucrative field for lawyers.
Like others have said, this is a personal decision. But if you don’t do it, are you happy staying in your current field for the next few decades? If not, what’s your Plan B?
To use a phrase that you will learn to love/hate at law school: it depends.
Specifically, it depends on what you want from life. You can do a lot with a law degree, so its tough to say whether it is “worth it” without knowing more about what your expectations are.
For example, I’m three years out from law school and am earning a touch more than you. I work a very low-stress job, have plenty of work-life balance, and get to be *very very* present for my kids growing up. These were all things I prioritized. I *could* be making a lot more money working a lot (and I mean a **lot**) more hours at a big firm, but that wasn’t my priority.
“Real Estate” law can run the financial gamut between “a guy doing 4 hours of work a week in his small town to pay the bills” and “major firms doing property development for huge multi-national companies”. There is potential there to make a **buttload** of money, but you are going to be working your ass off to do it, and if you REALLY want to be a heavy hitter it is going to help to have gone to a great University with great grades and devote your entire life to the practice of law.
The most likely scenario for (it sounds like) a fairly middle-of-the-road law school applicant? You get through law school, end up at a mid-size regional firm, and earn somewhere between 100 and 200k doing real estate work.
So as I said, it depends:
– If you’re already in a good financial position, have a good work-life balance, and want to maintain that, then no, it probably isn’t worth going to law school.
– If you’ve hit your cap, want to earn more, and are willing to consistently work 10-11 hours a day to achieve a higher financial plateau, then it is probably worth going to law school.
My parents had a friend pursue his law degree in his late 30s early 40s, leaving a good paying career to do so. He now has his own small practice, is doing extremely well, and is happier.
If law is a career you’ve always wanted to pursue, you’re far from too old to be doing so. If you just applied on a whim, maybe something to reconsider.
Your real estate career could also put you in a position to leverage that experience if you pursue real estate law.
I went to law school at the age of 28 and I would be happy to chat. Feel free to PM me. I do not regret my decision but it may not be a huge income boost for you – you are already making over 100K.
Is there a specific reason that you want to pursue Law degree? Are you going to be in your current area i.e. real-estate after you become lawyer? And will this degree accelerate your earning potential (of course not immediately after degree).
Can’t you do realtor work part-time, if that’s a possibility.
Earning good after your law degree will start once you cross 40 y or so. If you don’t have any lawyers in your family then it is going to be hard as this profession needs someone already in the arena to a bit of leg work/networking for you.
It is doable at 33y but have a solid plan (roadmap) for yourself. All the best.
Based on what you describe, personally I would say “yes, it’s worth it.” You have a specific prior skill set and a specific career aspiration. Your focus is narrow but reasonable and logical. Real estate transactions law is stable and generates revenue; once you’ve articled, you could join or start a firm.
The time will pass either way. It sounds like you could still potentially work as a realtor while going to law school, if finances are of concern to you. I’m doing something similar, accounting (CPA) currently, working towards a new bachelors degree, and wanting to apply to med school. I can’t live my life knowing I never even really gave it an effort. Even if I don’t get in, at least I’ll know I tried.
If it’s an opportunity you want take go for it. An old friend of mine who was 45 went back to school and was extremely happy after. Not only did me make more money back was actually in a career he loved. Sounds like it would be a great idea honestly.
My only suggestion is to really check out what a life in law is like and if you’ll actually like it. The feedback I’m hearing for those in law is that there are some degree of regrets. Else I say do it! Life is short.
What kind of opportunity would open up for you once you become a lawyer?
I went back to law school when i was a decade older than you. Absolutely the best decision i ever made.
You have so much time. Spend it doing what you want to do – don’t deny yourself because you think it’s “too late” on some arbitrary scale. You’re going to be 36/37 eventually anyway, and you can be a lawyer by the ti.e you get there, or not.
On a practical note … It’s possible to work part time in law school (i did), and there are career-helpful ways to do this (eg work as a teaching assistant or research assistant in the law school). OSAP and summer jobs can provide a lot of the funding needed, too – and a good summer law job sets you up well for a career after law school.
Went back to school at 27 to get a college degree and now I’m back in university at 34 and I do it because I love to learn. I don’t do it for the job opportunities but I know they’ll be coming with it. I’m in mechanical engineering btw. I must say my employer pays for my school. Don’t hesitated if any questions!
Edit: I go to school while working full time I have to say!
Here to agree with most of the comments. It’s a personal decision about inner happiness and ambition.
I have my electrical license. A field quite understaffed and easy to make 200k if you hold a few qualifications and wish to run a business.
I also had an easy 80k a year government job that paid for most of my stuff working max 20 hours per week.
I quit 2 years ago to go back to school for health sciences. Haven’t missed it at all. Really enjoy what I’m learning.
Always easy to look at the logical option, but if you’re like me, and being in the same spot in 25 years makes you want to throw up, go for the shift. You have enough experience where you can fall back on plenty of opportunities.
Good luck.
I don’t think it’s too late yet. My brother is a lawyer in the commercial RE sector and he started at around $60k articling as a summer student to $160k+ bonus within 3 years after graduation. The salary jump from junior to intermediate associate is immense!
From his journey it seems like any top tier firm pay will easily make up for the lost income you’ll miss out in school.
However the caveat is that you will work like a dog and have no social life. It wasn’t uncommon for my brother to work late every weekday and occasionally on weekends too.
Do it – you’re young in the general scheme of things.
You sound like you’re in a fine position to me.
Frankly I’d be more concerned about getting married and having kids.
I think it’s worth it if it’s what you want to do. Lawyers have good earning potential. At 36/37, you’ll still have about 30 more years of your career left. Plenty of time.
Having gone back to business school at 35 I say it’s totally worth it. You still have a lot of earning years left and you’ll regret not going more than going. Good luck!
Only you can answer that question, but I am curious why you couldn’t continue doing some real estate while attending school to help with costs.
I went back for a post graduate when I was 31-32. Finished 2 years later and I’m now entering my 5th year of work in my field. Worth it. I joined a company where I make more than I did with my bsc and I’m given more freedoms in my company as they favor those with a post graduate. As for my work situation, it is indeed better but in the end work is work.
If I were you, I’d spend some time looking into the field you’d want to get in before make the leap. My wife comes from a a family of lawyers and they’re pretty obnoxious lol. I’d also hate the work personally, but if you don’t mind then all the power to you. Another benefit is that your job will always exist if you dislike the program and come back to it anytime.
If you see yourself in a career in law, utilizing a law degree then yeah it’s not just worth it, it’s obviously the step you should take. 33 is not too old at all, but hopefully you have used part of your income towards a healthy savings/emergency fund (I’d think that is pretty crucial for a career in realty?). Since you mention dating life I assume single and presumably – having kids or a partner would be a huge factor since you wouldn’t be pausing just your own lifestyle but also those that depend on you and your income.
Do it! Don’t have regrets, enjoy your life! Keep working as a realtor on the side ! Getting into law school can change ur income to unlimited when practicing. You seem to have great experience in real estate, you can open real estate law firm … you can do a lot. But consider if it’s a passion and worth it. The job stability for lawyers is alright – if you do salary work you can make 150,000 k but it’ll take time, is it worth it ? Who knows ?
You can also make 10x that amount if you open up a successful law firm.
The rich come from taking risks, take a risk! It’s worth a shot, but follow ur heart too.
no lol please dont
It’s more a question of your happiness and future security. Being a lawyer can be a very competitive and stressful job. You will be fighting for internships and articling opportunities. My daughter makes a very good wage working in litigation but she is often living on little to no sleep. The Bay Street firms are very competitive. We thought after she made partner it would easy up but it hasn’t. She takes her computer on vacation.
Other forms of law also have emotional or quality of life constraints. Family law and criminal law are very difficult.
A lawyer can be really rewarding but you will sacrifice for it. If you hate your job or can’t see doing it in the future maybe it’s time to go back to school but law is a very difficult field.
Definitely worth it in the long run and not just for the money. Will you be satisfied being a realtor for the next three decades? Will your life be fulfilled?
Do it, you can still be a realtor on the side while in school to have some income roll in.
So you went through the entire application process. What was your motivation when you applied for law school? only you can answer this question honestly.
Did you connect with any students from the law school? Have you reached out to any lawyers? Perhaps speak to some that you got to know as an agent.
If you’re concerned about being out of a full time job for too long, have you looked into other training programs to work in the legal & RE, but not as an attorney? Perhaps that’s a way for you to stay employed and do the program part time.
You’re single and have no kid. But how about 3 years from now? 5 years? How would you adjust?
How about your financial responsibilities, e.g. car, house, etc? Would it be ok if you stop making your current income for several years?
Also chiming in as someone with a comfortable job/lifestyle and applied at a competitive and sought after program and was accepted. I went back at 32! I’ll be done next year at 34 (it was a post bacc program for a career change) and want to pursue my masters in my later 30’s
I think in 10 years (at least from my perspective) I’ll look back and say “damn I’m glad I took the plunge, I can’t believe I thought 32 was old!”
As others have said, the time will pass anyways. Follow your dreams. This life is short!
In your shoes, I would only do it if I were incredibly disenchanted with your current line of work, and are desperate for a new adventure. Can’t say I know typical lawyer income, but I can’t imagine you’ll be making much more than your current position, let alone for a long time, if even at all.
You’d effectively be losing several years of potential income, while also spending quite a bit in the meantime. From a purely financial perspective it’s very likely a huge risk for what I’d wager to be relatively little *potential* gain.
But, seeing as you’ve had few expenses for the bulk of your career so far it seems likely that you’ve got some savings, so you won’t go broke for a while.
>by the time I start making any real money and feel like these are my prime earning years and will probably kill my dating life as well
And the dating life won’t likely be any better once you’re done school as well. Lawyers typically work brutal hours.
Do it if you want the challenge and/or shakeup in your life. You presumably could always fall back on Real Estate if you don’t end up enjoying either the studying or the work.
People start medical school in their 30s. I know someone in Canada that went to Ireland for his degree and is now busier than ever in his new career @ 50.
I went to law school at 29 over a decade ago. Left a stable ~$100K income, it was a tough decision. I’ve also worked in corporate sales.
I don’t regret it. I started with a big firm so paid the debt off, but escaped before it consumed my life. I’m now in-house for the decent life/income balance.
I think a key difference with a profession is that you learn and get better with experience. Years under your belt make you better at your job, not just … old. YMMV, but I found that in sales, I’d learned most of what I needed in six months. After that, it was just networking and execution.
You would probably do well in law. Extroversion and life experience are assets. There aren’t many jobs in law where you’re not working to serve clients.