The competition is always tough for lawyers. There is the mythical image of the wealthy lawyer who has it all, but the reality is that most lawyers are not that well off, and don’t live lavish lifestyles. They work their asses off for relatively little. It’s a make-it-or-break-it kind of field. I know someone who is an excellent lawyer, graduated from Columbia University. He actually doesn’t make a whole lot. Rather than being a corporate or criminal lawyer (he had the option, it was just against his creed) he decided to work for a non-profit providing legal advice to underprivileged people who can’t afford proper legal counsel.
Needless to say, he doesn’t make a whole lot. And he’s a good lawyer.
Not to mention all of the bad ones out there who ace through school and just don’t make it in the field.