TrialLawyer16 wrote:^^Dingbat/Rayiner - so if all of this is true. Why do we so often hear the remark on TLS that "if you wanted to get rich you should have gone into finance and not biglaw"? Is that just hyperbole and the typical TLS "grass is greener" attitude?
In that context "finance" means GS/MS/JPM and larger PE/HF/VC firms. There are dudes at trading desks buying $1m houses five years out from undergrad. Only a fraction of finance jobs pay this kind of money, just like only a fraction of law jobs pay big law money. The difference is that these top finance jobs are even more scarce than big law. Look carefully at the HBS data. 27% of the class is going into IB/HF/PE, and not all of these are the top jobs. And once you get out of the Harvard/Stanford/Wharton range of schools, placement into those top jobs plummets.
You can do a lot of really cool things from an M7 business school. But it's not guaranteed models and bottles. By and large, you missed the models and bottles boat when you weren't top 10% of your class at HYPS UG (with a sterling personality and amazing interview skills to boot).