How to transcode folder of WAV files to MP3 using lame on the command line

In our previous post How I use lame to encode Music to mp3 we showed how to use lame to transcode a single WAV file to MP3, detailing

This is the bashscript I use to transcode all WAV files in the current folder to MP3:

for i in *.wav ; do lame -h -V 3 "$i" ; done

If you files are named .WAV instead of .wav, use the following version instead:

for i in *.WAV ; do lame -h -V 3 "$i" ; done