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Law firms’ preferences and willingness to pay for attributes of law school graduates: results from a choice experiment

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  • Karissa E. Smith
  • Peter W. Schuhmann
  • Fredrika J. Spencer

Abstract

Preferences and willingness-to-pay for attributes of law school graduates are examined using a choice experiment. Results suggest preferences for candidates who graduate near the top of their class or from top ranked schools and an aversion to candidates from lower ranked schools and those graduating in the bottom half of their class. Despite the potential for significant economic gains from attending a top ranked school and graduating in the top of the class, students should consider the tradeoffs that hiring firms are willing to make between candidate attributes. Higher class rank can moderate the salary premium associated with university prestige.

Suggested Citation

  • Karissa E. Smith & Peter W. Schuhmann & Fredrika J. Spencer, 2021. "Law firms’ preferences and willingness to pay for attributes of law school graduates: results from a choice experiment," Education Economics, Taylor & Francis Journals, vol. 29(4), pages 424-442, July.
    • Handle: RePEc:taf:edecon:v:29:y:2021:i:4:p:424-442
    DOI: 10.1080/09645292.2021.1906207
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