« on: July 03, 2008, 01:25:58 PM »
And as for why law is different from accounting, law is far more stratified and (slightly irrationally, in my opinion) obsessed with the idea of "prestige".
Supply and demand is the largest difference in the professions, actually. There are more jobs than accountants to fill them. I wouldn't say that there is a glut of lawyers, but in certain practice areas that may be true. Also, there are no prestigious accounting schools. Some are rated higher than others, but a debit is a debit at every school. You won't get a better education at UoT Austin or USC than at UNLV. I think this is also true for law, but the demographics of the job market force employers to attempt to distinguish applicants by splitting hairs over irrelevant issues. There really is no difference in the quality of legal education at a T14 school compared to a T2 school. The curriculums are identical. Supply and demand in the job market perpetuate the perception of prestigious schools graduating better attorneys. If anything, the prestigious schools simply attract better talent rather than produce a better final product.
Maybe lawyers are more insecure because their profession is really not that difficult. Accountants that go into law find it incredibly easy in comparison. So, if you don't have skill and talent to hang your hat on, maybe prestige is all that's left. I know I would rather write briefs and research case law than calculate derivative liabilities or value joint venture interests in foreign currencies and tranlate the unrealized gain/loss to USD.