Why are Lawyers So Expensive?

Not surprisingly, one of the chief complaints I hear is that lawyers cost too much. When did we decide that we were going to charge more for one hour of time than some of our clients make in a whole day? I'm not going to argue whether certain fees are reasonable. But as an independent attorney (also known as a sole practitioner), I can tell you that the lawyer doesn't take home all of the fee the client pays. Let's take a look at why.

Becoming a lawyer costs a lot.

Opportunity Cost of Law School

You're probably thinking that law school tuition is expensive, and it is, but more on that in a moment. Some prospective clients have never known a lawyer and have no idea how much training it takes to get a law degree. The absolute bare minimum is 6 years after graduating high school, and that's only if you happened to know that you wanted to be a lawyer when you started college and happened to attend a school with a 3+3 program. But for most, it's a 7-year tour: 4 years of college and three years of law school. What if your lawyer has other advanced degrees like an MBA or other grad degree? Add two years for that. That's 9 years of school after graduating high school. At a minimum, that means in order to become an attorney, you give up three years of full-time employment potential. Not to mention the tuition debt...

Financial Cost of Law School

In 2012, 85% of law school grads faced an average debt load of $98,500. And let's not even go into how the downturn of the U.S. economy has affected all working people. Really, do you feel bad for someone who's about to charge you hundreds of dollars per hour to push paper across their desk and use words you're 99% sure they made up? Probably not, but they're worth it. Why?

On the whole, lawyers are worth their money.

Like it or not, lawyers are in the unique position of being the ones who know the law. And since the law touches all of our lives, having someone on your side who knows the law is very valuable. Attorneys wrote the law, and they are extremely qualified to handle your situation. Yes, you can represent yourself, but are you willing to take that risk?

Think of it this way: there is a Japanese fish delicacy called fugu. You might know it as the blowfish or pufferfish. Some organs of the pufferfish contain a lethal toxin. In fact, you have to be certified by the Japanese government in order to prepare the dish because if you get it wrong, the consequences could be deadly. A fugu dish will cost you around $50 and the full meal around $200. If I really want to try fugu, $50 is well worth knowing a qualified chef prepared my meal. The same idea applies to legal services.

You want someone qualified and licensed by your state to handle your case.

What you get for the money.

A specialist in the law.

I often joke that people hire lawyers so they have someone to blame. But really, you hire a lawyer because you want someone you can trust to work for you. You have a problem that requires an expert, so you pay the price for a specialist to leverage all their training and experience to solve your problem. You're not paying minimum wage for someone to push the button on a fryer. You're hiring a highly-trained and skilled fugu chef, so to speak.

A licensed professional.

Your attorney's education doesn't stop at graduation. Lawyers are required to pass a test (bar exam) to become licensed and maintain their license by completing continuing legal education credits every year. What's more is that every day is like a final examination for an attorney. They are making decisions with consequences that range from a few dollars to a person's freedom. Attorneys grow as professionals and maintain that certification throughout their careers.

A long-lasting relationship.

Unlike the mail-order legal forms you can purchase online, your attorney wants to develop a relationship with you that will last long after your case is complete. That's why we answer your phone calls after hours and meet you on your schedule. We listen to your stories and try to relate to your concerns as we work with you to develop a strategy for your circumstances. We want to impress you by doing excellent work and exceed your expectations because we want you to be happy and tell others how happy you are with us. We want you feel comfortable recommending us to your family and friends, so we (at least I do) treat you like family.

When you hire an attorney, you're getting all the skills they developed before you darkened their threshold. And the best attorneys will build a relationship with you that lasts long after the first course.