Thinking about law school—or maybe a skilled trade like plumbing? You’re not alone. Many Americans face a tough choice: invest heavily in a professional degree or opt for faster, lower-cost career paths. One key metric that reveals the real financial picture is debt-to-income (DTI) ratio. In this article, we’ll compare the average law student debt-to-income vs plumber debt-to-income to help you make a smarter, data-backed decision about your future.
What Is Debt-to-Income Ratio—and Why Does It Matter?
Your debt-to-income ratio (DTI) measures how much of your monthly income goes toward paying debts. Lenders use it to assess your ability to manage monthly payments and repay borrowed money. But beyond loans, DTI is a powerful indicator of financial health, career ROI, and long-term stability.
A high DTI (typically above 43%) can signal financial stress, limit your ability to buy a home, or even delay retirement. A low DTI means you’re in better control of your finances—free to save, invest, or pursue other goals.
How Much Debt Do Law Students Really Carry?
According to the American Bar Association and data from the National Center for Education Statistics (NCES):
- The average law school graduate in 2024 owes $165,000 in student loans.
- When combined with undergraduate debt, many law grads start their careers with $200,000+ in total educational debt.
- Private law schools often exceed $250,000 in total debt per student.
Let that sink in: that’s more than many Americans earn in five years.
What About Plumbers? Do They Even Have Student Debt?
Most plumbers train through apprenticeships or trade schools, which cost far less than a four-year degree—let alone a graduate program.
- Average trade school tuition for plumbing: $1,000–$15,000.
- Many apprentices earn $15–$25/hour while learning, reducing or eliminating the need for loans.
- According to the U.S. Bureau of Labor Statistics (BLS), less than 20% of trade school students take on significant debt—and those who do average under $10,000.
For context: plumbers often graduate debt-free or with minimal loans, while law students start deep in the red.
Income Comparison: Starting Salaries vs Long-Term Earnings
Let’s break down earnings to calculate realistic DTI ratios.
Law Graduates
- Median starting salary (2024): $75,000 (varies widely: public interest ~$55k, Big Law ~$215k).
- Median mid-career salary: $127,000 (BLS, 2024).
- However, only 18% of law grads land “Big Law” jobs with six-figure salaries (NALP Foundation).
Plumbers
- Median annual wage (2024): $60,000 (BLS).
- Top 10% earn over $100,000, especially in high-cost states or with their own businesses.
- Many licensed plumbers reach $70k–$90k within 5–7 years—with no student debt dragging them down.
Calculating Real-World DTI Ratios
Let’s compare two hypothetical professionals:
Alex – Law School Graduate
- Total debt: $200,000
- Starting salary: $75,000/year → $6,250/month
- Estimated monthly student loan payment (10-year plan, 7% interest): $2,300
- DTI from student loans alone: 37%
- Add rent, car payments, credit cards? DTI could easily exceed 50%.
Jamie – Licensed Plumber
- Total debt: $8,000
- Starting salary: $50,000/year → $4,167/month
- Monthly loan payment (5-year plan, 6% interest): $155
- DTI from debt: 3.7%
- Even with a car loan and rent, DTI likely stays under 25%.
💡 Key Insight: Jamie achieves financial breathing room years sooner—not because they earn more, but because their debt burden is dramatically lower.
Long-Term Financial Outlook: Who Builds Wealth Faster?
A 2023 Georgetown University study found that while law degrees can yield high lifetime earnings, the ROI is highly uneven:
- Graduates from top-20 law schools see strong ROI.
- Graduates from lower-ranked schools often earn less than trade professionals after accounting for debt payments and delayed earnings.
Meanwhile, plumbers:
- Enter the workforce 4–7 years earlier than lawyers.
- Begin saving for retirement, homes, or businesses during their 20s.
- Enjoy job security—plumbing is recession-resilient and non-outsourcable.
In fact, the U.S. Department of Labor notes that demand for plumbers will grow 6% through 2032, faster than average.
Advantages and Trade-Offs: Law vs Plumbing
| Factor | Law School | Plumbing |
|---|---|---|
| Time to Earn | 7+ years (BA + JD) | 1–4 years (apprenticeship) |
| Average Debt | $165,000–$250,000 | $0–$10,000 |
| Starting Income | $55k–$215k (wide range) | $40k–$60k (steady growth) |
| Job Flexibility | High (various legal fields) | Local but stable; business ownership common |
| Emotional Labor | High stress, long hours | Physical labor, but predictable hours |
| Debt-to-Income Risk | High (especially outside Big Law) | Very low |
For more on career paths and educational ROI, see the Wikipedia overview on vocational education.
Who Should Choose Law—and Who Should Choose Plumbing?
- Choose law school if:
- You’re admitted to a top-tier or fully funded program.
- You’re passionate about law and understand the non-financial rewards.
- You have a clear path to high-earning legal roles or public service loan forgiveness.
- Choose plumbing if:
- You want low debt, fast entry, and steady income.
- You enjoy hands-on work and entrepreneurial freedom.
- Financial independence in your 20s or 30s is a priority.
Neither path is “better”—but financial outcomes vary dramatically based on debt load and earning trajectory.
FAQ Section
Q1: What is a healthy debt-to-income ratio for young professionals?
A healthy DTI is below 36%. For student loans alone, financial advisors recommend keeping payments under 10–15% of gross monthly income.
Q2: Can plumbers really make six figures?
Yes. Experienced plumbers in high-demand areas (e.g., California, New York) or those who own businesses routinely earn $90,000–$120,000+, especially with overtime or emergency services.
Q3: Do law school graduates qualify for loan forgiveness?
Some do—through Public Service Loan Forgiveness (PSLF)—but it requires 10 years of qualifying payments in government or nonprofit roles. Only about 25% of applicants are approved, per U.S. Department of Education data.
Q4: Is plumbing a “dead-end” career?
Not at all. Many plumbers become master plumbers, inspectors, or business owners. The field offers clear advancement, licensing tiers, and strong union support in many states.
Q5: How long does it take to pay off law school debt?
On a standard 10-year plan: 10 years. But most grads use income-driven repayment (20–25 years), meaning they may pay $300,000+ over time due to interest.
Q6: Are trade schools worth it compared to college?
For many, yes. A 2022 Federal Reserve study found that trade school graduates often out-earn bachelor’s degree holders in the first decade of work—thanks to earlier entry and lower debt.
Conclusion
When you compare average law student debt-to-income vs plumber debt-to-income, the numbers tell a compelling story: lower debt often beats higher income when it comes to real financial freedom.
Law school can be rewarding—but it’s a high-risk, high-cost path that only pays off under specific conditions. Plumbing, meanwhile, offers a faster, more predictable route to stability with minimal debt.
If you’re weighing career options, don’t just ask, “What do I want to do?” Ask: “What kind of financial life do I want to build?”
Found this comparison helpful? Share it with a friend who’s deciding between college and trade school! 💬👇 #CareerROI #DebtFreeFuture #SmartChoices
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