US News Rankings – Focus on Inputs
In my discussion that the US News Law School Rankings create negative incentives for law schools, I want to start by examining the misplaced emphasis of the components of the rankings. One of the oddities of the US News rankings is that the quality of incoming students (as measured by median GPA and LSAT) factors so prominently in how schools are ranked. The two factors account for 22.5% of a school’s overall ranking. Yet, what exactly do we expect to learn from the median GPA and LSAT scores? First, those two factors tell us, in aggregate, how the last entering class perceived the relative value of each law school. Students with the highest LSAT/GPA numbers typically have the greatest number of choices in terms of schools and scholarships. As a result, the GPA/LSAT scores are highly correlated with the previous year ranking. And, thus, the previous year ranking largely predicts the subsequent year ranking. Second, the numbers give us a crude sense of the quality of the student body before receiving law school education. Such considerations offer guidance to potential employers, but we might ask why those factors are important in any ranking system seeking to assess law school quality from a student perspective.