Posted by Ilya Somin:
Some Evidence on Relative Job Satisfaction Among Law Professors:
http://volokh.com/archives/archive_2007_12_30-2008_01_05.shtml#1199044995


   Those who read and debated [1]my recent post on the question of
   whether law professors are "miserable" may be interested to see some
   actual evidence of relative job satisfaction among law professors as
   compared to other law school graduates. In 2006, Yale Law School
   surveyed members of the Yale class of 2001 on a variety of
   career-related issues including job satisfaction. Here are the
   results, broken down by the graduates' areas of employment:

   Very Satisfied

   Satisfied

   Somewhat Satisfied

   Not Satisfied

   Academia

   67

   33

   0

   0

   Public service

   51

   30

   15

   4

   Business

   30

   54

   8

   8

   Law firm

   30

   36

   28

   6

   It is striking that job satisfaction among academics is high not only
   relative to those in private practice, but also relative to graduates
   employed in "public service," which is often viewed as a career path
   chosen in large part to maximize personal happiness rather than
   income.

   There are, of course, some limitations to this data. First, only Yale
   graduates are surveyed. The average Yale graduate in academia may have
   a somewhat better job than the average academic in general. On the
   other hand, the average Yale graduate in private practice or public
   service also probably has a better job than the average graduate of
   most other law schools. A more serious problem is that there are only
   12 total academics in the sample. This is just enough to be
   statistically significant, but is a small group nonetheless. n
   addition, the survey question measures only the respondents
   satisfaction with their jobs. It doesn't measure their overall level
   of happiness. Some academics might be happy with their jobs, but
   miserable more generally. However, the former is the better measure of
   the marginal effect of the job itself on personal happiness, which is
   after all the point at issue.

   Finally, I should emphasize that the data does not prove that all, or
   even most law school graduates would be happier in academia than in
   other kinds of jobs. Obviously, academics are a self-selected group
   that draws disproportionately from those who would enjoy the job most.
   However, the survey does suggest that those law school graduates who
   choose to become academics are, on average, happier with their jobs
   than those who choose other careers.

References

   1. http://volokh.com/archives/archive_2007_12_23-2007_12_29.shtml#1198962326

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