New associate banter

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20160810
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Re: New associate banter

Postby 20160810 » Wed Oct 16, 2013 12:08 am

If you're purely in it for the money, Texas biglaw is the obvious choice.

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quakeroats
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Re: New associate banter

Postby quakeroats » Wed Oct 16, 2013 1:20 am

SBL wrote: A sandwich that's $6 here is $13 there, and on and on.


A sandwich COULD cost $13 here, but it's also available under $5. Plus, price and quality aren't directly proportional in NYC like in most of the country. For example, the best steak in the City isn't even half of what you'd pay at the high-end steak houses elsewhere: http://nymag.com/bestofny/food/2012/steak/
Tickets to the Met on Saturday night can cost $500, but the same tickets are $20 if you know where to get them. You could walk in Barneys at get a Brioni suit off the rack for $5k, or you could get a made-to-measure suit from one of hundreds of tailors for less than a fifth of that. There's a cheaper way to do just about everything in NYC, and rarely is the drop in quality noticeable. Contrast this with most of the country where good stuff tends to be less available and more expensive for what it is.

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quakeroats
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Re: New associate banter

Postby quakeroats » Wed Oct 16, 2013 1:22 am

SBL wrote:If you're purely in it for the money, Texas biglaw is the obvious choice.


Here? http://swampland.time.com/2013/10/15/texas-lt-gov-for-calls-for-obama-impeachment/

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unc0mm0n1
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Re: New associate banter

Postby unc0mm0n1 » Wed Oct 16, 2013 1:29 am

quakeroats wrote:
SBL wrote: A sandwich that's $6 here is $13 there, and on and on.


A sandwich COULD cost $13 here, but it's also available under $5. Plus, price and quality aren't directly proportional in NYC like in most of the country. For example, the best steak in the City isn't even half of what you'd pay at the high-end steak houses elsewhere: http://nymag.com/bestofny/food/2012/steak/
Tickets to the Met on Saturday night can cost $500, but the same tickets are $20 if you know where to get them. You could walk in Barneys at get a Brioni suit off the rack for $5k, or you could get a made-to-measure suit from one of hundreds of tailors for less than a fifth of that. There's a cheaper way to do just about everything in NYC, and rarely is the drop in quality noticeable. Contrast this with most of the country where good stuff tends to be less available and more expensive for what it is.


This. I was so worried when I spent a summer working in NYC but once I found my way around it actually wasn't that much worse than Chicago. It was nowhere close to other HCOL areas I've been too like London, Hawaii or Tokyo. In fact I think SF is more expensive, although it could be I spent less time there and don't know the cheap areas.

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Re: New associate banter

Postby 5ky » Wed Oct 16, 2013 1:37 am

quakeroats has never not been insufferable on TLS.

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Old Gregg
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Re: New associate banter

Postby Old Gregg » Wed Oct 16, 2013 1:50 am

5ky wrote:quakeroats has never not been insufferable on TLS.


Neck and neck with Quincy at this point.

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Re: New associate banter

Postby 20160810 » Wed Oct 16, 2013 2:53 am

5ky wrote:quakeroats has never not been insufferable on TLS.

I seem to remember him being one of those weirdos who gets macho about how many hours they bill, but maybe I'm confusing him with someone else. I don't think he's going to get a lot of traction with his "NYC isn't expensive" thing though.

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20160810
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Re: New associate banter

Postby 20160810 » Wed Oct 16, 2013 2:54 am

quakeroats wrote:
SBL wrote:If you're purely in it for the money, Texas biglaw is the obvious choice.


Here? http://swampland.time.com/2013/10/15/texas-lt-gov-for-calls-for-obama-impeachment/

I went to Berkeley, so people clamoring to impeach presidents for dumb reasons doesn't really phase me at this point.

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Re: New associate banter

Postby quakeroats » Wed Oct 16, 2013 3:57 am

SBL wrote:
quakeroats wrote:
SBL wrote:If you're purely in it for the money, Texas biglaw is the obvious choice.


Here? http://swampland.time.com/2013/10/15/texas-lt-gov-for-calls-for-obama-impeachment/

I went to Berkeley, so people clamoring to impeach presidents for dumb reasons doesn't really phase me at this point.


There are people, and then there are lieutenant governors.

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quakeroats
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Re: New associate banter

Postby quakeroats » Wed Oct 16, 2013 4:01 am

"NYC isn't expensive" thing though.


I've written quite a bit about New York, and that is not a fair reading of my position.

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IAFG
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Re: New associate banter

Postby IAFG » Wed Oct 16, 2013 8:05 am

SBL wrote:
5ky wrote:quakeroats has never not been insufferable on TLS.

I seem to remember him being one of those weirdos who gets macho about how many hours they bill, but maybe I'm confusing him with someone else. I don't think he's going to get a lot of traction with his "NYC isn't expensive" thing though.

Wasn't he a rabid Michigan troll who receded when they continued to place poorly relative to peers?

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Re: New associate banter

Postby Big Shrimpin » Wed Oct 16, 2013 8:28 am

SBL wrote:If you're purely in it for the money, Texas biglaw is the obvious choice.


Ya. Charlotte has a nice COL too and a fair amount of work, if the Deep South ain't your thing.

Biglaw bro of mine in Charlotte was renting a massive 3br for a fraction of what I paid for a smallish 1br in MFH. But then again, he had to live in Charlotte.

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Re: New associate banter

Postby dixiecupdrinking » Wed Oct 16, 2013 8:33 am

SBL wrote:
5ky wrote:quakeroats has never not been insufferable on TLS.

I seem to remember him being one of those weirdos who gets macho about how many hours they bill, but maybe I'm confusing him with someone else. I don't think he's going to get a lot of traction with his "NYC isn't expensive" thing though.

Everything he's said is correct.

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IAFG
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Re: New associate banter

Postby IAFG » Wed Oct 16, 2013 8:59 am

dixiecupdrinking wrote:
SBL wrote:
5ky wrote:quakeroats has never not been insufferable on TLS.

I seem to remember him being one of those weirdos who gets macho about how many hours they bill, but maybe I'm confusing him with someone else. I don't think he's going to get a lot of traction with his "NYC isn't expensive" thing though.

Everything he's said is correct.

Not the steak thing. He said it references the best steak in the city, but the article says it's merely the best in Brooklyn. A lot less amazing.

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Re: New associate banter

Postby thesealocust » Wed Oct 16, 2013 9:41 am

SBL wrote:If you're purely in it for the money, Texas biglaw is the obvious choice.


If you're REALLY in it for the money, focus on first year salaries is myopic. Over a 30 to 40 year career I'd be surprised if NYC incomes didn't skew highly towards the top end vs. secondary markets where you'll have more disposable income on the 1st year's salary. Obviously only a small portion of the people who start law school will become partners, GCs, CEOs, etc. - but a non-negligible portion will. If you're really motivated by money and thinking long term, differences in comp (or probability of attaining comp) will wipe out salary/tax differences over 10 years worth of a career in like a month.

Having said, if you're only planning a short tour of duty in biglaw and/or intense legal jobs, starting in a lower CoL location makes all kinds of sense. Your emergency fund will get you a hell of a lot further if you rage quit biglaw in Texas or Oklahoma than it will in MFH.

5ky wrote:quakeroats has never not been insufferable on TLS.


Truer words have never been spoken. I remember some hilarious debates over NYC firms, Duke's placement in NYC firms, vault rankings, etc. from the Halcyon days of TLS.

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5ky
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Re: New associate banter

Postby 5ky » Wed Oct 16, 2013 10:11 am

IAFG wrote:
SBL wrote:
5ky wrote:quakeroats has never not been insufferable on TLS.

I seem to remember him being one of those weirdos who gets macho about how many hours they bill, but maybe I'm confusing him with someone else. I don't think he's going to get a lot of traction with his "NYC isn't expensive" thing though.

Wasn't he a rabid Michigan troll who receded when they continued to place poorly relative to peers?


as tsl noted above, he was some duke troll who continually waded into uva-specific threads to crow about the glory of DUKE

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Re: New associate banter

Postby Stanford4Me » Wed Oct 16, 2013 10:30 am

quakeroats wrote:
SBL wrote:If you're purely in it for the money, Texas biglaw is the obvious choice.


Here? http://swampland.time.com/2013/10/15/texas-lt-gov-for-calls-for-obama-impeachment/

As a native Texan I can confirm that I woke up this morning wanting to impeach Obama. I also called all of my friends to ensure they felt the same.

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Big Shrimpin
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Re: New associate banter

Postby Big Shrimpin » Wed Oct 16, 2013 10:31 am

thesealocust wrote:
SBL wrote:If you're purely in it for the money, Texas biglaw is the obvious choice.


If you're REALLY in it for the money, focus on first year salaries is myopic. Over a 30 to 40 year career I'd be surprised if NYC incomes didn't skew highly towards the top end vs. secondary markets where you'll have more disposable income on the 1st year's salary. Obviously only a small portion of the people who start law school will become partners, GCs, CEOs, etc. - but a non-negligible portion will. If you're really motivated by money and thinking long term, differences in comp (or probability of attaining comp) will wipe out salary/tax differences over 10 years worth of a career in like a month.

Having said, if you're only planning a short tour of duty in biglaw and/or intense legal jobs, starting in a lower CoL location makes all kinds of sense. Your emergency fund will get you a hell of a lot further if you rage quit biglaw in Texas or Oklahoma than it will in MFH.

5ky wrote:quakeroats has never not been insufferable on TLS.


Truer words have never been spoken. I remember some hilarious debates over NYC firms, Duke's placement in NYC firms, vault rankings, etc. from the Halcyon days of TLS.



I lol'd at the "halcyon days of TLS." And also got weirdly nostalgic.

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Re: New associate banter

Postby Old Gregg » Wed Oct 16, 2013 11:49 am

Quick update on Sallie Mae and credit cards: good buddy of mine was just able to get an entire payment on a credit card, without any fee. Had to fight a little, but he got it.

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Re: New associate banter

Postby quakeroats » Wed Oct 16, 2013 12:47 pm

thesealocust wrote:
SBL wrote:If you're purely in it for the money, Texas biglaw is the obvious choice.


If you're REALLY in it for the money, focus on first year salaries is myopic. Over a 30 to 40 year career I'd be surprised if NYC incomes didn't skew highly towards the top end vs. secondary markets where you'll have more disposable income on the 1st year's salary. Obviously only a small portion of the people who start law school will become partners, GCs, CEOs, etc. - but a non-negligible portion will. If you're really motivated by money and thinking long term, differences in comp (or probability of attaining comp) will wipe out salary/tax differences over 10 years worth of a career in like a month.


Ding ding.

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quakeroats
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Re: New associate banter

Postby quakeroats » Wed Oct 16, 2013 12:53 pm

IAFG wrote:
SBL wrote:
5ky wrote:quakeroats has never not been insufferable on TLS.

I seem to remember him being one of those weirdos who gets macho about how many hours they bill, but maybe I'm confusing him with someone else. I don't think he's going to get a lot of traction with his "NYC isn't expensive" thing though.

Wasn't he a rabid Michigan troll who receded when they continued to place poorly relative to peers?


That's me. It's nice to be right, but if I saved even one student from choosing Michigan/UVA over Penn/Duke it's been worth it.

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quakeroats
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Re: New associate banter

Postby quakeroats » Wed Oct 16, 2013 12:56 pm

IAFG wrote:
dixiecupdrinking wrote:
SBL wrote:
5ky wrote:quakeroats has never not been insufferable on TLS.

I seem to remember him being one of those weirdos who gets macho about how many hours they bill, but maybe I'm confusing him with someone else. I don't think he's going to get a lot of traction with his "NYC isn't expensive" thing though.

Everything he's said is correct.

Not the steak thing. He said it references the best steak in the city, but the article says it's merely the best in Brooklyn. A lot less amazing.


I can see how you'd read it like that, but NY Mag wasn't doing a borough-specific set of reviews. They turned a few heads when they announced:

http://www.businessinsider.com/steak-at ... elm-2013-2

DwightSchruteFarms
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Re: New associate banter

Postby DwightSchruteFarms » Wed Oct 16, 2013 3:22 pm

How often are you all asking for more work during a downtime? I asked yesterday, and all my partners said they didnt have anything...so i basically sat around and researched waiver wire pickups for week 7. Today, I get in and do a small 15 min assignment, nothing major. But now i have nothing to do. I don't want to get on their nerves with my constant requests but I honestly can't research fantasy football anymore.

nucky thompson
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Re: New associate banter

Postby nucky thompson » Wed Oct 16, 2013 3:33 pm

DwightSchruteFarms wrote:How often are you all asking for more work during a downtime? I asked yesterday, and all my partners said they didnt have anything...so i basically sat around and researched waiver wire pickups for week 7. Today, I get in and do a small 15 min assignment, nothing major. But now i have nothing to do. I don't want to get on their nerves with my constant requests but I honestly can't research fantasy football anymore.


this is my fear of big law: i know i'll have to cope with extremely busy weeks and extremely slow weeks, but, unlike busy weeks, slow weeks do not result in a change in the amount of hours spent at the office. what happens if you just go home when you have nothing to do (especially after informing the need-to-knows that you need work)?

Edited: this is a fear for me because doing nothing in an office, even if there is nothing to do, results in weird guilt emotions/time moves slow as fuck.

Edited again: do NYC big law firms provide associates with a way to get grammar/punctuation proof reads before submitting assignments?

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Stanford4Me
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Re: New associate banter

Postby Stanford4Me » Wed Oct 16, 2013 3:40 pm

DwightSchruteFarms wrote:How often are you all asking for more work during a downtime? I asked yesterday, and all my partners said they didnt have anything...so i basically sat around and researched waiver wire pickups for week 7. Today, I get in and do a small 15 min assignment, nothing major. But now i have nothing to do. I don't want to get on their nerves with my constant requests but I honestly can't research fantasy football anymore.

Do research that pertains to your practice. In my downtime I've been reading about startups and investment round term sheets.




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