What do you do with your BIG LAW salary? Forum

[heavoldgotjuice]

What do you spend the big bucks on?

Outed for anon abuse.

[Cavalier]

Collector's editions of Blizzard games. Guacamole at Chipotle.

[09042014]

Paying back my loan money.

But I just started withholding like 30 percent of my check. So I'm slowing down on that front.

[thesealocust]

Collector's editions of Blizzard games. Guacamole at Chipotle.

+1

Also paying down debt and saving up a rage-quit-biglaw-and/or-society fund.

[09042014]

Chipotle? You fat cats need to get your letenles at a street burrito cart. 5 bucks.

[thesealocust]

Burrito + guac + chips + guac + soda = $15

Charging your chipotle gluttony to the client = priceless

[84651846190]

Quesarritos are tcr.

[09042014]

Burrito + guac + chips + guac + soda = $15

Charging your chipotle gluttony to the client = priceless

Postmates that shit and you don't even have to walk there.

[DELG]

Daycare.

[Anonymous User]

[e] Uhhh hit anonymous reply by mistake. See below for credited response.

[BigRob]

As a junior associate: Student loans, closet-sized apartment in Manhattan, lawyerly-clothing tax, poor person food, and the remaining $500 per year goes in savings.

As a senior associate: Student loans, closet-sized apartment in Manhattan, lawyerly-clothing tax, private school for spoiled children, alimony for bitch first wife, "self-medication," and you're accruing debt.

[NYSprague]

As a junior associate: Student loans, closet-sized apartment in Manhattan, lawyerly-clothing tax, poor person food, and the remaining $500 per year goes in savings.

As a senior associate: Student loans, closet-sized apartment in Manhattan, lawyerly-clothing tax, private school for spoiled children, alimony for bitch first wife, "self-medication," and you're accruing debt.

No one can pay private school tuition and alimony. You will have to just stay married.

http://www.allen-stevenson.org/admissio ... nancialaid

http://www.cshnyc.org/admissions/tuitio ... index.aspx

--LinkRemoved--
Basically private school is $41,000 a year now.

[DELG]

As a junior associate: Student loans, closet-sized apartment in Manhattan, lawyerly-clothing tax, poor person food, and the remaining $500 per year goes in savings.

As a senior associate: Student loans, closet-sized apartment in Manhattan, lawyerly-clothing tax, private school for spoiled children, alimony for bitch first wife, "self-medication," and you're accruing debt.

No one can pay private school tuition and alimony. You will have to just stay married.

http://www.allen-stevenson.org/admissio ... nancialaid

http://www.cshnyc.org/admissions/tuitio ... index.aspx

--LinkRemoved--
Basically private school is $41,000 a year now.

Every time my husband and I think about moving back to NYC we remember that even with double biglaw we can't afford it

And furthermore we couldn't get the kid into a decent elementary school anyway because we haven't been plotting since conception

[Abbie Doobie]

Paying of undergrad and law school loans. Paying the wife's medical bills. Funding maintenance/upkeep on the house. Food.

Daycare will be added in the near future.

And there it goes

[rayiner]

My take-home was like $8,000 per month (married + didn't live in Manhattan). Of that, $750 went to repaying my bar advance over 10 months. $400 (post-tax) for health insurance for just me and my daughter. $3,000 to student loans. $1,500 for a 430 square foot studio 15 miles from Manhattan. $200 for Metro-North. $250 for maid service since I was never home. $150 or so for dry cleaning. $200 for breakfast/lunch at the firm cafeteria. The remaining $1,500 or so went to diapers, formula, and eating out. Luckily, I had some existing wardrobe from before law school, because I couldn't have afforded new shoes, etc, at the time.

LOL @ people who say big law is worth it because you can support a family on one income. Just LOL.

[Anonymous User]

Ehh, on the off-chance you are getting at budgeting, Major expenses are:

Car (lease+insurance) - $7200/yr
Student Loans (5-year repayment) - $35k/yr
Apartment (I don't live in NY/SF) - ~$21k/yr
Retirement (small b/c firm makes larger contribution) - $5k

throw in the other normal expenses and I'm left with ~20k/yr to save. Key to this, however, is that firm completely handles 100% of health insurance and makes a retirement contribution on my behalf. Not sure how common that is.

[de5igual]

Ehh, on the off-chance you are getting at budgeting, Major expenses are:

Car (lease+insurance) - $7200/yr
Student Loans (5-year repayment) - $35k/yr
Apartment (I don't live in NY/SF) - ~$21k/yr
Retirement (small b/c firm makes larger contribution) - $5k

throw in the other normal expenses and I'm left with ~20k/yr to save. Key to this, however, is that firm completely handles 100% of health insurance and makes a retirement contribution on my behalf. Not sure how common that is.

Very few firms significantly subsidize your health insurance and almost none match your 401k. Also, LOL @ food and other expenses at less than 1000/month.

[09042014]

My firm matched 101 dollars. HOW DARE you suggest there is no 401k matching!

[DoveBodyWash]

$1,500 for a 430 square foot studio 15 miles from Manhattan.

What. I've only ever rented apartments in Syracuse and St. Louis, both of which have low COL. Is $1,500 for a 430 sq. ft studio a good deal near NYC..? Is it significantly more expensive as you approach Manhattan?

[UnicornHunter]

$1,500 for a 430 square foot studio 15 miles from Manhattan.

What. I've only ever rented apartments in Syracuse and St. Louis, both of which have low COL. Is $1,500 for a 430 sq. ft studio a good deal near NYC..? Is it significantly more expensive as you approach Manhattan?

Yes

Considering all five boroughs, the median price per square foot in New York City is $424. Looking just at Manhattan however, that price jumps to an astronomical $1,538 per square foot, leading to $1,000,000 buying just 650 square feet.

Read more: http://www.businessinsider.com/us-city- ... z349iAm0x1

[Anonymous User]

Ehh, on the off-chance you are getting at budgeting, Major expenses are:

Car (lease+insurance) - $7200/yr
Student Loans (5-year repayment) - $35k/yr
Apartment (I don't live in NY/SF) - ~$21k/yr
Retirement (small b/c firm makes larger contribution) - $5k

throw in the other normal expenses and I'm left with ~20k/yr to save. Key to this, however, is that firm completely handles 100% of health insurance and makes a retirement contribution on my behalf. Not sure how common that is.

Very few firms significantly subsidize your health insurance and almost none match your 401k. Also, LOL @ food and other expenses at less than 1000/month.

Yeah I figured this but wasn't sure, my job is a little unicorn-like but pays biglaw salary. I don't have to pay for food at work Mon-Thurs and I live in a medium COL city so food expenses stay in $300-$500/month range each month. Beyond that all i have is internet, power, trash, etc. and some minor misc. expenses.

[DoveBodyWash]

$1,500 for a 430 square foot studio 15 miles from Manhattan.

What. I've only ever rented apartments in Syracuse and St. Louis, both of which have low COL. Is $1,500 for a 430 sq. ft studio a good deal near NYC..? Is it significantly more expensive as you approach Manhattan?

Yes

Considering all five boroughs, the median price per square foot in New York City is $424. Looking just at Manhattan however, that price jumps to an astronomical $1,538 per square foot, leading to $1,000,000 buying just 650 square feet.

Read more: http://www.businessinsider.com/us-city- ... z349iAm0x1

yea but that's to purchase an apartment right? What about renting one?

[WheatThins]

$1,500 for a 430 square foot studio 15 miles from Manhattan.

What. I've only ever rented apartments in Syracuse and St. Louis, both of which have low COL. Is $1,500 for a 430 sq. ft studio a good deal near NYC..? Is it significantly more expensive as you approach Manhattan?

Newflash. Manhattan is expensive. San Fransisco is expensive. Washington DC is expensive. Those cities are awesome. Syracuse and St. Louis are cheap. Those cities are dumps.

[UnicornHunter]

$1,500 for a 430 square foot studio 15 miles from Manhattan.

What. I've only ever rented apartments in Syracuse and St. Louis, both of which have low COL. Is $1,500 for a 430 sq. ft studio a good deal near NYC..? Is it significantly more expensive as you approach Manhattan?

Yes

Considering all five boroughs, the median price per square foot in New York City is $424. Looking just at Manhattan however, that price jumps to an astronomical $1,538 per square foot, leading to $1,000,000 buying just 650 square feet.

Read more: http://www.businessinsider.com/us-city- ... z349iAm0x1

yea but that's to purchase an apartment right? What about renting one?

Also expensive as fuck

According to that, average rent for a Manhattan studio ranged from $1606 for a studio in a non-doorman apartment in Harlem to $3186 for a studio in Chelsea.

[DELG]

$1,500 for a 430 square foot studio 15 miles from Manhattan.

What. I've only ever rented apartments in Syracuse and St. Louis, both of which have low COL. Is $1,500 for a 430 sq. ft studio a good deal near NYC..? Is it significantly more expensive as you approach Manhattan?

Newflash. Manhattan is expensive. San Fransisco is expensive. Washington DC is expensive. Those cities are awesome. Syracuse and St. Louis are cheap. Those cities are dumps.

TBF DC is not awesome.