I am so tired of the psedu-psychological bullshit sentiment that whether one is rich is a subjective thing. It's not. Taken to the absurd limit, no one aside from Warren Buffet, Bill Gates, and the Saudi Oil Princes are rich. In fact, in the ridiculous "subjectivity of wealth" world, Bill Gates wouldn't feel rich because he had to work for his wealth but the Saudis just had to be born.
Give me a fucking break.
The fact that rich people still can live beyond their means does not make them not rich. Was Michael Jackson "not rich"? I mean, sure, by the time they go bankrupt, they're not rich anymore - at least temporarily - but that doesn't mean they weren't rich when they were pulling down $1mm+ a year.
There is an 'argument' to be had about where the lines are between middle class, upper-middle-class, and 'rich.' But $1mm a year - well beyond the "1% of people in the wealthiest country in the world make this amount" - is wayyyy past that line. The arguments fall into "is a junior associate middle class, upper-middle-class, or rich," not "is a partner at a V100 firm rich."
If you think otherwise, you are objectively detached from reality. I'm tempted to assume you grew up at least middle/upper-middle-class, and have no concept of what it is to be poor (or even middle class), to have such an absurd viewpoint.
Anyway, that tangent out of the way, RPL is a better measure of a firm's financial strength than RPP, and RPL is harder to game.
ETA: And I do agree that people can "not feel rich" if their peers make more than they do. That doesn't mean they aren't objectively rich, though.
ETA2: And you are certainly right that "going to law school for a shot at being rich" is probably a bad move, unless you get into a top school and have dim prospects elsewhere. Even then, uphill battle. But if you get into one of the top schools, going to law school with the expectation of making much better money than you would have sans-law-school is more than justifiable for many people.
Last edited by ToTransferOrNot
on Tue Dec 06, 2011 10:28 pm, edited 1 time in total.