First year at a big firm; brutal hours; like the job. AMA.

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Nickg415
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby Nickg415 » Tue Mar 19, 2013 11:04 pm

ph5354a wrote: I also recommend getting a 5-pound tub of whey powder and a few shaker cups to keep around the office. This will telegraph to the male associates that you are alpha (essential, since you're not generally allowed to wear tank tops to work unless you're at Quinn) and will awaken in the female associates (or, if you're lucky, partners) a primal desire, deeply seeded by evolution itself, to carry your seed.


Best advice I have ever read on TLS. I feel that with this I am guaranteed to be on partner track.

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wiseowl
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby wiseowl » Tue Mar 19, 2013 11:05 pm

Seriously Objection, wtf happened to you? You went from a pretty chill, fun, knowledgable person in the bar study thread last summer to an ugly, bitter misanthrope. It ain't flattering.

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ExBiglawAssociate
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby ExBiglawAssociate » Tue Mar 19, 2013 11:14 pm

This thread is now about this:

--ImageRemoved--

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TatNurner
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby TatNurner » Tue Mar 19, 2013 11:34 pm

^In a way it's consistent with what we've been discussing all along. Namely, how to find the best partners to work under.

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unc0mm0n1
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby unc0mm0n1 » Tue Mar 19, 2013 11:43 pm

Biglaw_Associate_V20 wrote:This thread is now about this:

--ImageRemoved--


You're welcome

Anonymous User
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby Anonymous User » Wed Mar 20, 2013 1:13 am

SBL wrote:
Green Marbles wrote:Awesome thread, I really appreciate the hyper-busy associates coming here to school us.

I have a naive question. If you make 160k/yr (which let’s assume is 120/yr after taxes) and are living a Spartan lifestyle (simply because crazy hours), then it should only take a couple years to discharge a 150k debt?

1.) Let's not assume it's $120,000 after taxes. Let's assume it's more like $95,000-100,000. Depending on your city, you're going to want to flush another $24,000 down the toilet for housing (maybe more if we're talking NYC/DC/SF - be spartan all you want, but you don't want to come home to 3 roommates playing beer pong after 16 hours at work). I think that $50,000 a year is a really optimistic maximum. There are probably some who've done more, but I doubt it.

2.) That (bolded) word... I do not think it means what you think it means.


Sister is in Y3 of NYC BigLaw and is almost done paying off debt (and that's with sticker price + undergrad debt; albeit 2007-2010 sticker debt and not $200-$300k sticker debt). Doesn't live like a spartan either. Helps to live with a SO and work at a firm that pays top tier bonuses.

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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby Green Marbles » Wed Mar 20, 2013 1:31 am

Anonymous User wrote:
SBL wrote:
Green Marbles wrote:Awesome thread, I really appreciate the hyper-busy associates coming here to school us.

I have a naive question. If you make 160k/yr (which let’s assume is 120/yr after taxes) and are living a Spartan lifestyle (simply because crazy hours), then it should only take a couple years to discharge a 150k debt?

1.) Let's not assume it's $120,000 after taxes. Let's assume it's more like $95,000-100,000. Depending on your city, you're going to want to flush another $24,000 down the toilet for housing (maybe more if we're talking NYC/DC/SF - be spartan all you want, but you don't want to come home to 3 roommates playing beer pong after 16 hours at work). I think that $50,000 a year is a really optimistic maximum. There are probably some who've done more, but I doubt it.

2.) That (bolded) word... I do not think it means what you think it means.


Sister is in Y3 of NYC BigLaw and is almost done paying off debt (and that's with sticker price + undergrad debt; albeit 2007-2010 sticker debt and not $200-$300k sticker debt). Doesn't live like a spartan either. Helps to live with a SO and work at a firm that pays top tier bonuses.


Ah, I can see how those considerations would make a difference. Thankfully I have repaid all my ugrad debt. Thank you for the info!

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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby 09042014 » Wed Mar 20, 2013 1:40 am

double post
Last edited by 09042014 on Wed Mar 20, 2013 11:39 am, edited 1 time in total.

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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby 09042014 » Wed Mar 20, 2013 1:41 am

Desert Fox wrote:180K means like 12K+ of interest only. So even if you pay 50K, you still have ~140K.

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thelawyler
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby thelawyler » Wed Mar 20, 2013 11:12 am

Desert Fox wrote:
Desert Fox wrote:180K means like 12K+ of interest only. So even if you pay 50K, you still have ~140K.

Sucks brah.

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wert3813
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby wert3813 » Wed Mar 20, 2013 8:00 pm

To the Big Law people ITT:

If you graduated debt free what job would you have taken (that you feasibly could have gotten)?

What job would you have taken that would have been tougher to get (thinking like DOJ Honors program or something, not GM of the Yankees)?

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Objection
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby Objection » Wed Mar 20, 2013 8:13 pm

wiseowl wrote:Seriously Objection, wtf happened to you? You went from a pretty chill, fun, knowledgable person in the bar study thread last summer to an ugly, bitter misanthrope. It ain't flattering.


Just being honest about big law.

Hard to do that without sounding bitter.

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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby 005618502 » Wed Mar 20, 2013 8:23 pm

Desert Fox wrote:
Desert Fox wrote:180K means like 12K+ of interest only. So even if you pay 50K, you still have ~140K.


Yeah this sucks. I thought my debt would be low now that I got 12 weeks of 1L SA in a market with no state income tax. But nooooooo after taxes I will see about 30-31,000 of the 39,000 and looking at my interest accrued from one semester....not going to help as much as I thought.

Interest really sucks.

Anyone know what take home is on 160 in Texas?

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Old Gregg
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby Old Gregg » Wed Mar 20, 2013 8:36 pm

AssumptionRequired wrote:
Desert Fox wrote:
Desert Fox wrote:180K means like 12K+ of interest only. So even if you pay 50K, you still have ~140K.


Yeah this sucks. I thought my debt would be low now that I got 12 weeks of 1L SA in a market with no state income tax. But nooooooo after taxes I will see about 30-31,000 of the 39,000 and looking at my interest accrued from one semester....not going to help as much as I thought.

Interest really sucks.

Anyone know what take home is on 160 in Texas?


First world problems.

fluffythepenguin
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby fluffythepenguin » Wed Mar 20, 2013 8:37 pm

AssumptionRequired wrote:
Desert Fox wrote:
Desert Fox wrote:180K means like 12K+ of interest only. So even if you pay 50K, you still have ~140K.


Yeah this sucks. I thought my debt would be low now that I got 12 weeks of 1L SA in a market with no state income tax. But nooooooo after taxes I will see about 30-31,000 of the 39,000 and looking at my interest accrued from one semester....not going to help as much as I thought.

Interest really sucks.

Anyone know what take home is on 160 in Texas?


I think about 115k.

005618502
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby 005618502 » Wed Mar 20, 2013 8:39 pm

Fresh Prince wrote:
AssumptionRequired wrote:
Desert Fox wrote:
Desert Fox wrote:180K means like 12K+ of interest only. So even if you pay 50K, you still have ~140K.


Yeah this sucks. I thought my debt would be low now that I got 12 weeks of 1L SA in a market with no state income tax. But nooooooo after taxes I will see about 30-31,000 of the 39,000 and looking at my interest accrued from one semester....not going to help as much as I thought.

Interest really sucks.

Anyone know what take home is on 160 in Texas?


First world problems.


I guess having over 150k in debt at graduation plus about 20k in UG debt is first world problems...but it still sucks.

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Old Gregg
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby Old Gregg » Wed Mar 20, 2013 8:47 pm

...
Last edited by Old Gregg on Wed Mar 20, 2013 11:19 pm, edited 1 time in total.

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Old Gregg
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby Old Gregg » Wed Mar 20, 2013 8:51 pm

....
Last edited by Old Gregg on Wed Mar 20, 2013 11:19 pm, edited 1 time in total.

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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby 005618502 » Wed Mar 20, 2013 10:25 pm

Fresh Prince wrote:
wert3813 wrote:To the Big Law people ITT:

If you graduated debt free what job would you have taken (that you feasibly could have gotten)?

What job would you have taken that would have been tougher to get (thinking like DOJ Honors program or something, not GM of the Yankees)?


I have little to no debt and I work in biglaw, and I like it fine.

Hours can be tough and very unpredictable, but there's no profession where you get paid the big bucks and you're basically not on call.

I don't really know how long I see myself at the firm. I definitely think you can go to other firms and make the same for billing less, but I like my current firm because of job security and I am learning a lot.

To keep my hours somewhat more sane, I'm very careful about who I work for and the matters I take on. I also work from home during non office hours, but that's a trust thing. A lot of associates and partners like face time. I've earned the trust of my colleagues because whenever they ask me to do something, I do it (unless I have more pressing work).

Coworkers respect my holidays to the extent they can. I had a lovely break for Christmas and New Years. Thanksgiving kind of sucked, and I didn't get my birthday (but no one knew it was my bday and I think it's kind of dumb to refuse to do work because it is your birthday). I've gotten most of those one off holidays (like MLK), and yes even got Super Bowl Sunday (despite being on a billion dollar deal).

The people I work with are people who wouldn't give me something to do during a holiday or weekend unless they absolutely had to. And if you refuse to do it, they'll end up having to sacrifice their lives to do it, and that's not really fair to them. We are all in this together and the more you can help out the quicker you can get the whole deal over with.


What do you mean when you say job security? you in NYC?

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ExBiglawAssociate
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby ExBiglawAssociate » Wed Mar 20, 2013 10:29 pm

wert3813 wrote:To the Big Law people ITT:

If you graduated debt free what job would you have taken (that you feasibly could have gotten)?


Biglaw.

wert3813 wrote:What job would you have taken that would have been tougher to get (thinking like DOJ Honors program or something, not GM of the Yankees)?


Probably DOJ Honors, although it depends on the component. I didn't apply, so I don't know whether I would have gotten it or not.

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wert3813
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby wert3813 » Wed Mar 20, 2013 11:52 pm

Biglaw_Associate_V20 wrote:
wert3813 wrote:To the Big Law people ITT:

If you graduated debt free what job would you have taken (that you feasibly could have gotten)?


Biglaw.

wert3813 wrote:What job would you have taken that would have been tougher to get (thinking like DOJ Honors program or something, not GM of the Yankees)?


Probably DOJ Honors, although it depends on the component. I didn't apply, so I don't know whether I would have gotten it or not.


Thanks to both of you. To those of you working in transactional, do you do almost exclusively M&A or bankruptcy, taxation, regulatory, etc.

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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby Anonymous User » Wed Mar 20, 2013 11:56 pm

If I graduated with zero debt, I'd still do corporate work at a big firm. Unless I was independently wealthy, I'd do nothing different. If I was independently wealthy I would not have gone to law school. I'd probably be living in a third world country running my own charity.

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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby Anonymous User » Thu Mar 21, 2013 12:02 am

another anon firm grunt chiming in - i've got minimal debt, had near-perfect law school credentials, and chose to do biglaw.

amazing amount of mental freedom that comes with accumulating this much nest-egg this quickly.

as they say, you can do anything for a year...

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warandpeace
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby warandpeace » Thu Mar 21, 2013 12:07 am

rad lulz wrote:When you meet chicks in bars, do you tell them that you make binders for a living?


lulz

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Objection
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Re: First year at a big firm; brutal hours; like the job. AMA.

Postby Objection » Thu Mar 21, 2013 9:41 am

If I had no debt, I probably would have went to a small p-side shop for a few years (if I could have landed such a gig) and then went solo.




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