Will biglaw cover sticker debt?

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glitched
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Re: Will biglaw cover sticker debt?

Postby glitched » Sun Mar 06, 2011 7:14 pm

lol i've been thinking... if i work for another year at 40k/year, and retake the LSAT, assuming I can raise my score to 176 (wild assumption but I was hitting mid 170s on my PTs)... i might be able to reapply and get a fat scholarship for UChi or Columbia... that translates to me potentially making 190k in 2011... anyone got any advice on that idea?


or is that just all not worth the risk? i gotta admit, studying for the LSAT sucks. balls.

rose711
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Re: Will biglaw cover sticker debt?

Postby rose711 » Sun Mar 06, 2011 7:33 pm

I think that perhaps the people who are putting themselves in the position of needing biglaw should talk to associates currently working in biglaw firms.

Take some people out to lunch or buy a few drinks, if they can get away from the office.

After putting all this effort into finding out about LSAT and schools, people should put effort into finding out what the job is all about. Many, many people hate working as associates in biglaw; some people love it. But at least investigate it and understand as best you can, what it is that you are signing up for (assuming that you can get biglaw to begin with.)

rose711
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Re: Will biglaw cover sticker debt?

Postby rose711 » Sun Mar 06, 2011 7:34 pm

I think that perhaps the people who are putting themselves in the position of needing biglaw should talk to associates currently working in biglaw firms.

Take some people out to lunch or buy a few drinks, if they can get away from the office.

After putting all this effort into finding out about LSAT and schools, people should put effort into finding out what the job is all about. Many, many people hate working as associates in biglaw; some people love it. But at least investigate the biglaw job and understand as best you can, what it is that you are signing up for (assuming that you can get biglaw to begin with.)

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Malcolm8X
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Re: Will biglaw cover sticker debt?

Postby Malcolm8X » Sun Mar 06, 2011 7:37 pm

glitched wrote:lol i've been thinking... if i work for another year at 40k/year, and retake the LSAT, assuming I can raise my score to 176 (wild assumption but I was hitting mid 170s on my PTs)... i might be able to reapply and get a fat scholarship for UChi or Columbia... that translates to me potentially making 190k in 2011... anyone got any advice on that idea?


or is that just all not worth the risk? i gotta admit, studying for the LSAT sucks. balls.


Wow. That's sooooo risky. That's counting your chickens before they hatch, on many levels. Assuming you get that score. Assuming you get back in. Assuming they give you a fat scholly like that. Too many wildcards. Plus, like you said in bold.

rose711
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Re: Will biglaw cover sticker debt?

Postby rose711 » Sun Mar 06, 2011 7:40 pm

glitched wrote:lol i've been thinking... if i work for another year at 40k/year, and retake the LSAT, assuming I can raise my score to 176 (wild assumption but I was hitting mid 170s on my PTs)... i might be able to reapply and get a fat scholarship for UChi or Columbia... that translates to me potentially making 190k in 2011... anyone got any advice on that idea?


or is that just all not worth the risk? i gotta admit, studying for the LSAT sucks. balls.


Well, what is the risk here? You won't end up in a worse position and you might end up with less debt. The $190,000 salary I won't address.

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Malcolm8X
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Re: Will biglaw cover sticker debt?

Postby Malcolm8X » Sun Mar 06, 2011 7:57 pm

rose711 wrote:
glitched wrote:lol i've been thinking... if i work for another year at 40k/year, and retake the LSAT, assuming I can raise my score to 176 (wild assumption but I was hitting mid 170s on my PTs)... i might be able to reapply and get a fat scholarship for UChi or Columbia... that translates to me potentially making 190k in 2011... anyone got any advice on that idea?


or is that just all not worth the risk? i gotta admit, studying for the LSAT sucks. balls.


Well, what is the risk here? You won't end up in a worse position and you might end up with less debt. The $190,000 salary I won't address.


Opportunity cost. The risk is making no significant improvement and thus losing a whole year of your life (and possibly a yr at biglaw salary too).

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Stanford4Me
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Re: Will biglaw cover sticker debt?

Postby Stanford4Me » Sun Mar 06, 2011 8:04 pm

Desert Fox wrote:I find it hard to believe anyone pays off sticker at a t14 in fewer than 5 years. Maybe if you are at a Dallas firm at 160k.

YESSSS

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LLB2JD
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Re: Will biglaw cover sticker debt?

Postby LLB2JD » Sun Mar 06, 2011 8:06 pm

Stanford4Me wrote:
Desert Fox wrote:I find it hard to believe anyone pays off sticker at a t14 in fewer than 5 years. Maybe if you are at a Dallas firm at 160k.

YESSSS


Such a homer. I doubt you'd have too much to worry about anyways.

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drylo
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Re: Will biglaw cover sticker debt?

Postby drylo » Sun Mar 06, 2011 8:10 pm

glitched wrote:lol i've been thinking... if i work for another year at 40k/year, and retake the LSAT, assuming I can raise my score to 176 (wild assumption but I was hitting mid 170s on my PTs)... i might be able to reapply and get a fat scholarship for UChi or Columbia... that translates to me potentially making 190k in 2011... anyone got any advice on that idea?


or is that just all not worth the risk? i gotta admit, studying for the LSAT sucks. balls.


It might be worth asking Chicago what they think of that idea, if you are seriously considering it. (You might need to explain why you applied two years in a row anyway.) But if they are cool with it, then I'd say the risk/reward might be worth it if you really think you can get 176+... fair warning, though: 176/3.9 does not guarantee a "fat" scholarship at Chicago necessarily (see my LSN)--but they do seem to have more money now with the Rubenstein program.

rose711
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Re: Will biglaw cover sticker debt?

Postby rose711 » Sun Mar 06, 2011 10:56 pm

Malcolm8X wrote:
rose711 wrote:
glitched wrote:lol i've been thinking... if i work for another year at 40k/year, and retake the LSAT, assuming I can raise my score to 176 (wild assumption but I was hitting mid 170s on my PTs)... i might be able to reapply and get a fat scholarship for UChi or Columbia... that translates to me potentially making 190k in 2011... anyone got any advice on that idea?


or is that just all not worth the risk? i gotta admit, studying for the LSAT sucks. balls.


Well, what is the risk here? You won't end up in a worse position and you might end up with less debt. The $190,000 salary I won't address.


Opportunity cost. The risk is making no significant improvement and thus losing a whole year of your life (and possibly a yr at biglaw salary too).


If you don't improve, will you get in with the same choices you have now? I suppose tuition will have gone up a bit, so there is that.

If you do improve, will you actually get the scholarship you seek? If you do, won't the scholarship even out with the possibility of a biglaw salary?

As for a year of your life, if the economy improves the job outlook might be even better for you if you wait a year. If the economy somehow declines, you will be better off not in law school fighting for a job.

I don't know, all of these factors are starting to sound way too vague for me, I think that drylo, has the best advice, first find out the deal with getting the scholarship if you defer and then get a higher LSAT.

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JG Hall
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Re: Will biglaw cover sticker debt?

Postby JG Hall » Mon Mar 07, 2011 12:33 am

rose711 wrote:I think that perhaps the people who are putting themselves in the position of needing biglaw should talk to associates currently working in biglaw firms.

Take some people out to lunch or buy a few drinks, if they can get away from the office.

After putting all this effort into finding out about LSAT and schools, people should put effort into finding out what the job is all about. Many, many people hate working as associates in biglaw; some people love it. But at least investigate the biglaw job and understand as best you can, what it is that you are signing up for (assuming that you can get biglaw to begin with.)

this is what callback season is for.

rose711
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Re: Will biglaw cover sticker debt?

Postby rose711 » Mon Mar 07, 2011 10:12 pm

JG Hall wrote:
rose711 wrote:I think that perhaps the people who are putting themselves in the position of needing biglaw should talk to associates currently working in biglaw firms.

Take some people out to lunch or buy a few drinks, if they can get away from the office.

After putting all this effort into finding out about LSAT and schools, people should put effort into finding out what the job is all about. Many, many people hate working as associates in biglaw; some people love it. But at least investigate the biglaw job and understand as best you can, what it is that you are signing up for (assuming that you can get biglaw to begin with.)

this is what callback season is for.


How does that help people who are trying to decide whether to even go to the school and borrow tens of thousands of dollars to pay tuition? Waiting for callback season to find out about a job you almost certainly have to get to repay debt or to reach your dream or whatever, is just too late for some people.

To be fair, I posted this after having dinner with family friends where the biglaw partner and his wife were complaining about the hours, even now after so many years in corporate law. Their last vacation was ruined by clients insisting on daily calls with the partner in charge and he was billing close to 300 hour months because after the crash the firm fired all the experienced associates who could have been helping him run deals.

So I had in mind that people who want biglaw may have no idea what lifestyle they are signing up for.

keg411
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Re: Will biglaw cover sticker debt?

Postby keg411 » Mon Mar 07, 2011 11:09 pm

Meh, I know a bunch of BigLaw associates, and despite the complaints about the hours, it makes me want it more. :?

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glitched
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Re: Will biglaw cover sticker debt?

Postby glitched » Mon Mar 07, 2011 11:10 pm

rose711 wrote:
JG Hall wrote:
rose711 wrote:I think that perhaps the people who are putting themselves in the position of needing biglaw should talk to associates currently working in biglaw firms.

Take some people out to lunch or buy a few drinks, if they can get away from the office.

After putting all this effort into finding out about LSAT and schools, people should put effort into finding out what the job is all about. Many, many people hate working as associates in biglaw; some people love it. But at least investigate the biglaw job and understand as best you can, what it is that you are signing up for (assuming that you can get biglaw to begin with.)

this is what callback season is for.


How does that help people who are trying to decide whether to even go to the school and borrow tens of thousands of dollars to pay tuition? Waiting for callback season to find out about a job you almost certainly have to get to repay debt or to reach your dream or whatever, is just too late for some people.

To be fair, I posted this after having dinner with family friends where the biglaw partner and his wife were complaining about the hours, even now after so many years in corporate law. Their last vacation was ruined by clients insisting on daily calls with the partner in charge and he was billing close to 300 hour months because after the crash the firm fired all the experienced associates who could have been helping him run deals.

So I had in mind that people who want biglaw may have no idea what lifestyle they are signing up for.


yeah their last vacation was ruined. the last 4 in that year weren't. cash money baby. cash money.

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Malcolm8X
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Re: Will biglaw cover sticker debt?

Postby Malcolm8X » Mon Mar 07, 2011 11:15 pm

glitched wrote:
rose711 wrote:
JG Hall wrote:
rose711 wrote:I think that perhaps the people who are putting themselves in the position of needing biglaw should talk to associates currently working in biglaw firms.

Take some people out to lunch or buy a few drinks, if they can get away from the office.

After putting all this effort into finding out about LSAT and schools, people should put effort into finding out what the job is all about. Many, many people hate working as associates in biglaw; some people love it. But at least investigate the biglaw job and understand as best you can, what it is that you are signing up for (assuming that you can get biglaw to begin with.)

this is what callback season is for.


How does that help people who are trying to decide whether to even go to the school and borrow tens of thousands of dollars to pay tuition? Waiting for callback season to find out about a job you almost certainly have to get to repay debt or to reach your dream or whatever, is just too late for some people.

To be fair, I posted this after having dinner with family friends where the biglaw partner and his wife were complaining about the hours, even now after so many years in corporate law. Their last vacation was ruined by clients insisting on daily calls with the partner in charge and he was billing close to 300 hour months because after the crash the firm fired all the experienced associates who could have been helping him run deals.

So I had in mind that people who want biglaw may have no idea what lifestyle they are signing up for.


yeah their last vacation was ruined. the last 4 in that year weren't. cash money baby. cash money.


lololol... That's good news in my opinion. He can't keep that productivity up by himself!! I'll be his willing associate :wink: cash money :mrgreen:

rose711
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Re: Will biglaw cover sticker debt?

Postby rose711 » Mon Mar 07, 2011 11:31 pm

Actually most of their vacations have been affected by his job since they've been married -something his wife bitches about whenever vacations are mentioned. And he can never go dark on his iphone. Even his kids hate his job for the issues it has caused in their lives and none of them will even consider law school or law as a profession.

I think the firm is restarting the summer program at a reduced level, but that won't help with the senior deal people he needs. I don't think they plan to rush back into hiring, but they have learned that they can fire people without completely destroying their reputation with law students. They can still get good people from the top schools to work for them.

Many people are naive about the biglaw job short term (to pay off debts) and long term (possibility of making partner or what happens if you don't). Some people will thrive on it; some people won't. But at least look into it carefully before you end up in a situation where biglaw is the only job that will cover the debt you take on for law school.




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