Being in a high-paying career is something to be proud of. Being in a high-paying career with no future is something to be concerned about.
Unfortunately for judges, they rank at the top of this list. Many solo and small-firm attorneys aspire to ultimately become judges partly for job and pay security reasons. That rationale is being shaken for a variety of reasons as life as a lawyer may actually be a much more secure place to be.
The list, compiled by the Bureau of Labor Statistics' Occupational Outlook Handbook, was based on projected growth (or lack thereof) in the coming years for high-paying professions.
Budget cuts are the main culprit when it comes to judges. The Wall Street Journal reports that there were 700 fewer jobs for judges, magistrate judges, and magistrates than there were in 2008. Tenure is another issue for judges as the turnover for the profession is incredibly slow. "Years ago, some left to become general counsel in the private sector, where they could triple their salary, but since the economic downturn, they're staying longer on the bench," The Journal quotes BLS researcher Tamara Dillon.
The complete list includes a range of careers. The reassuring news for the legal profession is that judges are the only law-based career on the list of high paying careers with no future:
For a position that often takes years to achieve in the first place, it is also becoming harder to keep. So instead of aspiring to don a black robe and assert your authority with a gavel, CBS reports a list of some careers with high salaries and growth potential, including: nurse practitioner, search-engine optimization specialist, and bankruptcy restructuring specialist.