110 hour week

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BiglawAssociate
Posts: 355
Joined: Thu Mar 12, 2015 12:05 am

Re: 110 hour week

Postby BiglawAssociate » Sat Apr 04, 2015 12:38 pm

BmoreOrLess wrote:Definitely no differnces between the economy in the 80's and now.


Law has generally always had shittier hours...even back in the 80s.

And yes, my parents were making more than biglawyers back int he 80s and they still make more money than most lawyers now.

This profession is just balls.

At least people in finance actually make a lot of fucking money......we just get capped out at what i think is shit for our hours and high COL. Even junior partners at biglaw firms don't make that much money (start out like maybe 500-600k) after 12 years in the profession.

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bearsfan23
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Re: 110 hour week

Postby bearsfan23 » Sat Apr 04, 2015 5:37 pm

BiglawAssociate wrote:
BmoreOrLess wrote:Definitely no differnces between the economy in the 80's and now.


Law has generally always had shittier hours...even back in the 80s.

And yes, my parents were making more than biglawyers back int he 80s and they still make more money than most lawyers now.

This profession is just balls.

At least people in finance actually make a lot of fucking money......we just get capped out at what i think is shit for our hours and high COL. Even junior partners at biglaw firms don't make that much money (start out like maybe 500-600k) after 12 years in the profession.


How is it possible for you to even be this shitty of a troll? Every thread you talk about how "middle class" you were and how you married a totally real rich wife.

Now you're saying your parents were wealthy AND that all finance people make a ton of money. Umm no. Most people in Finance start at less than $75k, and very few people actually stay in the industry long enough to make a lot.

Also, you're outing yourself as working for a TTT NYC firm if Partners 12 years out are only making $500-$600k. No wonder you hate your life so much

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BiglawAssociate
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Re: 110 hour week

Postby BiglawAssociate » Sat Apr 04, 2015 7:29 pm

bearsfan23 wrote:
BiglawAssociate wrote:
BmoreOrLess wrote:Definitely no differnces between the economy in the 80's and now.


Law has generally always had shittier hours...even back in the 80s.

And yes, my parents were making more than biglawyers back int he 80s and they still make more money than most lawyers now.

This profession is just balls.

At least people in finance actually make a lot of fucking money......we just get capped out at what i think is shit for our hours and high COL. Even junior partners at biglaw firms don't make that much money (start out like maybe 500-600k) after 12 years in the profession.


How is it possible for you to even be this shitty of a troll? Every thread you talk about how "middle class" you were and how you married a totally real rich wife.

Now you're saying your parents were wealthy AND that all finance people make a ton of money. Umm no. Most people in Finance start at less than $75k, and very few people actually stay in the industry long enough to make a lot.

Also, you're outing yourself as working for a TTT NYC firm if Partners 12 years out are only making $500-$600k. No wonder you hate your life so much


I'm saying 12 years out of law school. Can you read? People don't make partner at NYC firms oftentimes unless they are 10+ years out. So you are junior partner when you're old and still making shitty money Also the range of salaries at ONE firm can vary from 500k to 10mm.....it averages out to a decent salary, but when you're junior you're still getting paid shit.

Also my parents make six figures and that's considered "rich" to you? lol What a poor. I married into money because my wife's family doesn't even work for a living anymore and still get paid six figures in investments alone...that's legit "rich" - when you make more than biglawyers/finance people do based purely on investments.

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nyyankskid
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Re: 110 hour week

Postby nyyankskid » Sat Apr 04, 2015 10:45 pm

BiglawAssociate wrote:
bearsfan23 wrote:
BiglawAssociate wrote:
BmoreOrLess wrote:Definitely no differnces between the economy in the 80's and now.


Law has generally always had shittier hours...even back in the 80s.

And yes, my parents were making more than biglawyers back int he 80s and they still make more money than most lawyers now.

This profession is just balls.

At least people in finance actually make a lot of fucking money......we just get capped out at what i think is shit for our hours and high COL. Even junior partners at biglaw firms don't make that much money (start out like maybe 500-600k) after 12 years in the profession.


How is it possible for you to even be this shitty of a troll? Every thread you talk about how "middle class" you were and how you married a totally real rich wife.

Now you're saying your parents were wealthy AND that all finance people make a ton of money. Umm no. Most people in Finance start at less than $75k, and very few people actually stay in the industry long enough to make a lot.

Also, you're outing yourself as working for a TTT NYC firm if Partners 12 years out are only making $500-$600k. No wonder you hate your life so much


I'm saying 12 years out of law school. Can you read? People don't make partner at NYC firms oftentimes unless they are 10+ years out. So you are junior partner when you're old and still making shitty money Also the range of salaries at ONE firm can vary from 500k to 10mm.....it averages out to a decent salary, but when you're junior you're still getting paid shit.

Also my parents make six figures and that's considered "rich" to you? lol What a poor. I married into money because my wife's family doesn't even work for a living anymore and still get paid six figures in investments alone...that's legit "rich" - when you make more than biglawyers/finance people do based purely on investments.


Shoot. Sounds like someone thinks he's too good to keep living down here on Earth with us mere mortals.

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FSK
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Re: 110 hour week

Postby FSK » Sat Apr 04, 2015 10:48 pm

BiglawAssociate wrote:
bearsfan23 wrote:
BiglawAssociate wrote:
BmoreOrLess wrote:Definitely no differnces between the economy in the 80's and now.


Law has generally always had shittier hours...even back in the 80s.

And yes, my parents were making more than biglawyers back int he 80s and they still make more money than most lawyers now.

This profession is just balls.

At least people in finance actually make a lot of fucking money......we just get capped out at what i think is shit for our hours and high COL. Even junior partners at biglaw firms don't make that much money (start out like maybe 500-600k) after 12 years in the profession.


How is it possible for you to even be this shitty of a troll? Every thread you talk about how "middle class" you were and how you married a totally real rich wife.

Now you're saying your parents were wealthy AND that all finance people make a ton of money. Umm no. Most people in Finance start at less than $75k, and very few people actually stay in the industry long enough to make a lot.

Also, you're outing yourself as working for a TTT NYC firm if Partners 12 years out are only making $500-$600k. No wonder you hate your life so much


I'm saying 12 years out of law school. Can you read? People don't make partner at NYC firms oftentimes unless they are 10+ years out. So you are junior partner when you're old and still making shitty money Also the range of salaries at ONE firm can vary from 500k to 10mm.....it averages out to a decent salary, but when you're junior you're still getting paid shit.

Also my parents make six figures and that's considered "rich" to you? lol What a poor. I married into money because my wife's family doesn't even work for a living anymore and still get paid six figures in investments alone...that's legit "rich" - when you make more than biglawyers/finance people do based purely on investments.


If I had your outlook on the world, I don't think there's an amount of money that would make that worth it. I hope you're a troll, for your own sad sake. Pathetic.

TTTooKewl
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Re: 110 hour week

Postby TTTooKewl » Sun Apr 05, 2015 2:45 am

flawschoolkid wrote:
BiglawAssociate wrote:
bearsfan23 wrote:
BiglawAssociate wrote:
Law has generally always had shittier hours...even back in the 80s.

And yes, my parents were making more than biglawyers back int he 80s and they still make more money than most lawyers now.

This profession is just balls.

At least people in finance actually make a lot of fucking money......we just get capped out at what i think is shit for our hours and high COL. Even junior partners at biglaw firms don't make that much money (start out like maybe 500-600k) after 12 years in the profession.


How is it possible for you to even be this shitty of a troll? Every thread you talk about how "middle class" you were and how you married a totally real rich wife.

Now you're saying your parents were wealthy AND that all finance people make a ton of money. Umm no. Most people in Finance start at less than $75k, and very few people actually stay in the industry long enough to make a lot.

Also, you're outing yourself as working for a TTT NYC firm if Partners 12 years out are only making $500-$600k. No wonder you hate your life so much


I'm saying 12 years out of law school. Can you read? People don't make partner at NYC firms oftentimes unless they are 10+ years out. So you are junior partner when you're old and still making shitty money Also the range of salaries at ONE firm can vary from 500k to 10mm.....it averages out to a decent salary, but when you're junior you're still getting paid shit.

Also my parents make six figures and that's considered "rich" to you? lol What a poor. I married into money because my wife's family doesn't even work for a living anymore and still get paid six figures in investments alone...that's legit "rich" - when you make more than biglawyers/finance people do based purely on investments.


If I had your outlook on the world, I don't think there's an amount of money that would make that worth it. I hope you're a troll, for your own sad sake. Pathetic.


Dude is a troll or otherwise clueless. Range of salaries of a junior partner varies from 500k to 10M??? OH MAN! CRAZY! Where on earth did you get those numbers? If you aren't a troll, I hate to break it to you, but no junior partner is making 10M. And the above poster is correct. Most in finance don't make that much money early in their career, unless they are on the sell side, in which case they are working worse hours than biglaw with worse job security. And OH MAN YOUR WIFE'S PARENTS MAKE SIX FIGURES IN INVESTMENTS? Holy shit -- in 2013, that means their net investment worth was like $300k!!!! Dudes are rich!

In any event, comparing an established family's investment income to an early-career finance / biglaw individual is just silly. The end-point of big law and [stable] finance isn't to make BIG BUCKS NOW LETS RETIRE AND LIVE ON INVESTMENTS. It's to build a career. That takes ambition. That takes hard work and sacrifice (including time with kids, your spouse, your health). It's not easy. But success is there to be had. Surprise: top 1% success isn't easy, no matter how smart you are.

Disclaimer: if your goal isn't money, and you want to do whatever you want to do, and spend more time with your family -- more power to you. I respect it. But the notion that biglaw is a golden ticket and that those who land there out of law school are entitled to some grand career is unhealthy.

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JohannDeMann
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Re: 110 hour week

Postby JohannDeMann » Sun Apr 05, 2015 3:07 am

nobody wants a grand career dude. we just dont want to be slaving away on weekends/after dinner time every goddamn week.

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BarbellDreams
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Re: 110 hour week

Postby BarbellDreams » Sun Apr 05, 2015 10:55 am

I don't understand what part of "Different people have different priorities" some of these people don't understand.

I prioritize my health and wellbeing, time with wife and kids, personal goals and activities I enjoy outside of work, travel to see the world, fitness goals and overall stress management and relaxation.

Some people prioritize $$$ and a stellar resume over all of the above.

Those are mutually exclusive 99.99% of the time. If you want $$$ above health, wellbeing and a great family then by all means, just stop trying to convince people how you're normal and how this is what they should do as well. I'll take 100K with inflation based raises for the rest of my entire life if I could do everything else that I listed above easy. A lot of people would scoff at 100K.

Anonymous User
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Re: 110 hour week

Postby Anonymous User » Sun Apr 05, 2015 12:26 pm

JohannDeMann wrote:nobody wants a grand career dude. we just dont want to be slaving away on weekends/after dinner time every goddamn week.


Agreed. I want to work a job, do good work, and then go home and have some personal time. Of course ill work late when the need arises or work the weekend if totally necessary. But I have.no desire for a "grand career". Life.begins when you get home at the end of the day. Doesnt mean you cant love your job and be passionate about it. But its still just a.job, profession or not.

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Desert Fox
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Re: 110 hour week

Postby Desert Fox » Sun Apr 05, 2015 2:51 pm

Here is the problem with biglaw workaholics. Biglaw ain't some Aaoron Sorkinish wonderland where everyone works all the time because they love their jobs. You work long hours because your firms purposely makes you to ensure maximum profitability.

dixiecupdrinking
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Re: 110 hour week

Postby dixiecupdrinking » Sun Apr 05, 2015 6:11 pm

TTTooKewl wrote:Dude is a troll or otherwise clueless. Range of salaries of a junior partner varies from 500k to 10M??? OH MAN! CRAZY! Where on earth did you get those numbers? If you aren't a troll, I hate to break it to you, but no junior partner is making 10M. And the above poster is correct. Most in finance don't make that much money early in their career, unless they are on the sell side, in which case they are working worse hours than biglaw with worse job security. And OH MAN YOUR WIFE'S PARENTS MAKE SIX FIGURES IN INVESTMENTS? Holy shit -- in 2013, that means their net investment worth was like $300k!!!! Dudes are rich!

In any event, comparing an established family's investment income to an early-career finance / biglaw individual is just silly. The end-point of big law and [stable] finance isn't to make BIG BUCKS NOW LETS RETIRE AND LIVE ON INVESTMENTS. It's to build a career. That takes ambition. That takes hard work and sacrifice (including time with kids, your spouse, your health). It's not easy. But success is there to be had. Surprise: top 1% success isn't easy, no matter how smart you are.

Disclaimer: if your goal isn't money, and you want to do whatever you want to do, and spend more time with your family -- more power to you. I respect it. But the notion that biglaw is a golden ticket and that those who land there out of law school are entitled to some grand career is unhealthy.

What is top 1% success?

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DELG
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Re: 110 hour week

Postby DELG » Sun Apr 05, 2015 6:20 pm

Desert Fox wrote:Here is the problem with biglaw workaholics. Biglaw ain't some Aaoron Sorkinish wonderland where everyone works all the time because they love their jobs. You work long hours because your firms purposely makes you to ensure maximum profitability.

If firms cared even a little bit about people they would harness the fact that lots of associates actually are law geeks who want to delve into shit out of their sense of Sorkinish wonder. But never has a partner ever asked himself why his associates come to work every day.

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BiglawAssociate
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Re: 110 hour week

Postby BiglawAssociate » Tue Apr 07, 2015 2:07 am

TTTooKewl wrote:
Dude is a troll or otherwise clueless. Range of salaries of a junior partner varies from 500k to 10M??? OH MAN! CRAZY! Where on earth did you get those numbers? If you aren't a troll, I hate to break it to you, but no junior partner is making 10M. And the above poster is correct. Most in finance don't make that much money early in their career, unless they are on the sell side, in which case they are working worse hours than biglaw with worse job security. And OH MAN YOUR WIFE'S PARENTS MAKE SIX FIGURES IN INVESTMENTS? Holy shit -- in 2013, that means their net investment worth was like $300k!!!! Dudes are rich!

In any event, comparing an established family's investment income to an early-career finance / biglaw individual is just silly. The end-point of big law and [stable] finance isn't to make BIG BUCKS NOW LETS RETIRE AND LIVE ON INVESTMENTS. It's to build a career. That takes ambition. That takes hard work and sacrifice (including time with kids, your spouse, your health). It's not easy. But success is there to be had. Surprise: top 1% success isn't easy, no matter how smart you are.

Disclaimer: if your goal isn't money, and you want to do whatever you want to do, and spend more time with your family -- more power to you. I respect it. But the notion that biglaw is a golden ticket and that those who land there out of law school are entitled to some grand career is unhealthy.


Apparently you can't read either. The range of partner salaries (from junior to rainmaker) is like 500k to 10mm at some NYC firms. NOT JUST JUNIOR PARTNER SALARIES.

If their investment income is 300k, and assuming a 3% rate of return, they have like over 10 million invested....so yeah that's a lot more FUCK YOU money than biglawyers (except partners) will ever have. If you aren't partner, you will never save 10 million in your ENTIRE LIFE working as a piece of shit lawyer. Just LOL - YOU CANT EVEN SAVE 10 FUCKING MILLION DOLLARS WORKING AS A LAWYER. And you will be working harder than them because they retired at age fucking 50 (while you are working until 80 because YOU HAVE ONLY ONE LITTLE MILLION SAVED UP) and they have like 10 MOTHERFUCKING PROPERTIES living it up IN ADDITION 10 million cash in the bank. Oh not to mention, they NEVER worked 80 hour weeks in their entire fucking life. And you know why? Because they aren't lawyers.

And considering most biglawyers make like the same or less money in 20 years, it's pretty easy to compare "established family investment income" with lawyer income. This salary isn't improving post biglaw...because it only goes downhill.

So yes, you work harder in law, you have less upside, and you have NO CHANCE at saving fuck you money because you aren't making partner at any biglaw firm. You might save a measly 2 peanut millions over the course of your ENTIRE life - that isn't even enough to retire on.

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bearsfan23
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Re: 110 hour week

Postby bearsfan23 » Tue Apr 07, 2015 2:32 am

BiglawAssociate wrote:
TTTooKewl wrote:
Dude is a troll or otherwise clueless. Range of salaries of a junior partner varies from 500k to 10M??? OH MAN! CRAZY! Where on earth did you get those numbers? If you aren't a troll, I hate to break it to you, but no junior partner is making 10M. And the above poster is correct. Most in finance don't make that much money early in their career, unless they are on the sell side, in which case they are working worse hours than biglaw with worse job security. And OH MAN YOUR WIFE'S PARENTS MAKE SIX FIGURES IN INVESTMENTS? Holy shit -- in 2013, that means their net investment worth was like $300k!!!! Dudes are rich!

In any event, comparing an established family's investment income to an early-career finance / biglaw individual is just silly. The end-point of big law and [stable] finance isn't to make BIG BUCKS NOW LETS RETIRE AND LIVE ON INVESTMENTS. It's to build a career. That takes ambition. That takes hard work and sacrifice (including time with kids, your spouse, your health). It's not easy. But success is there to be had. Surprise: top 1% success isn't easy, no matter how smart you are.

Disclaimer: if your goal isn't money, and you want to do whatever you want to do, and spend more time with your family -- more power to you. I respect it. But the notion that biglaw is a golden ticket and that those who land there out of law school are entitled to some grand career is unhealthy.


Apparently you can't read either. The range of partner salaries (from junior to rainmaker) is like 500k to 10mm at some NYC firms. NOT JUST JUNIOR PARTNER SALARIES.

If their investment income is 300k, and assuming a 3% rate of return, they have like over 10 million invested....so yeah that's a lot more FUCK YOU money than biglawyers (except partners) will ever have. If you aren't partner, you will never save 10 million in your ENTIRE LIFE working as a piece of shit lawyer. Just LOL - YOU CANT EVEN SAVE 10 FUCKING MILLION DOLLARS WORKING AS A LAWYER. And you will be working harder than them because they retired at age fucking 50 (while you are working until 80 because YOU HAVE ONLY ONE LITTLE MILLION SAVED UP) and they have like 10 MOTHERFUCKING PROPERTIES living it up IN ADDITION 10 million cash in the bank. Oh not to mention, they NEVER worked 80 hour weeks in their entire fucking life. And you know why? Because they aren't lawyers.

And considering most biglawyers make like the same or less money in 20 years, it's pretty easy to compare "established family investment income" with lawyer income. This salary isn't improving post biglaw...because it only goes downhill.

So yes, you work harder in law, you have less upside, and you have NO CHANCE at saving fuck you money because you aren't making partner at any biglaw firm. You might save a measly 2 peanut millions over the course of your ENTIRE life - that isn't even enough to retire on.



JFC you are completely insufferable, even for a troll

hdunlop
Posts: 461
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Re: 110 hour week

Postby hdunlop » Tue Apr 07, 2015 4:45 am

Nah that's a pretty great "gotten to" rant

hdunlop
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Re: 110 hour week

Postby hdunlop » Tue Apr 07, 2015 4:48 am

The math in it alone is too obviously too dumb to be troll.

BearLaw
Posts: 133
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Re: 110 hour week

Postby BearLaw » Tue Apr 07, 2015 10:12 am

BiglawAssociate wrote:
TTTooKewl wrote:
Dude is a troll or otherwise clueless. Range of salaries of a junior partner varies from 500k to 10M??? OH MAN! CRAZY! Where on earth did you get those numbers? If you aren't a troll, I hate to break it to you, but no junior partner is making 10M. And the above poster is correct. Most in finance don't make that much money early in their career, unless they are on the sell side, in which case they are working worse hours than biglaw with worse job security. And OH MAN YOUR WIFE'S PARENTS MAKE SIX FIGURES IN INVESTMENTS? Holy shit -- in 2013, that means their net investment worth was like $300k!!!! Dudes are rich!

In any event, comparing an established family's investment income to an early-career finance / biglaw individual is just silly. The end-point of big law and [stable] finance isn't to make BIG BUCKS NOW LETS RETIRE AND LIVE ON INVESTMENTS. It's to build a career. That takes ambition. That takes hard work and sacrifice (including time with kids, your spouse, your health). It's not easy. But success is there to be had. Surprise: top 1% success isn't easy, no matter how smart you are.

Disclaimer: if your goal isn't money, and you want to do whatever you want to do, and spend more time with your family -- more power to you. I respect it. But the notion that biglaw is a golden ticket and that those who land there out of law school are entitled to some grand career is unhealthy.


Apparently you can't read either. The range of partner salaries (from junior to rainmaker) is like 500k to 10mm at some NYC firms. NOT JUST JUNIOR PARTNER SALARIES.

If their investment income is 300k, and assuming a 3% rate of return, they have like over 10 million invested....so yeah that's a lot more FUCK YOU money than biglawyers (except partners) will ever have. If you aren't partner, you will never save 10 million in your ENTIRE LIFE working as a piece of shit lawyer. Just LOL - YOU CANT EVEN SAVE 10 FUCKING MILLION DOLLARS WORKING AS A LAWYER. And you will be working harder than them because they retired at age fucking 50 (while you are working until 80 because YOU HAVE ONLY ONE LITTLE MILLION SAVED UP) and they have like 10 MOTHERFUCKING PROPERTIES living it up IN ADDITION 10 million cash in the bank. Oh not to mention, they NEVER worked 80 hour weeks in their entire fucking life. And you know why? Because they aren't lawyers.

And considering most biglawyers make like the same or less money in 20 years, it's pretty easy to compare "established family investment income" with lawyer income. This salary isn't improving post biglaw...because it only goes downhill.

So yes, you work harder in law, you have less upside, and you have NO CHANCE at saving fuck you money because you aren't making partner at any biglaw firm. You might save a measly 2 peanut millions over the course of your ENTIRE life - that isn't even enough to retire on.


Cough... doesnt understand investing... cough cough

wildhaggis
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Re: 110 hour week

Postby wildhaggis » Tue Apr 07, 2015 10:20 am

BiglawAssociate wrote:
TTTooKewl wrote:
Dude is a troll or otherwise clueless. Range of salaries of a junior partner varies from 500k to 10M??? OH MAN! CRAZY! Where on earth did you get those numbers? If you aren't a troll, I hate to break it to you, but no junior partner is making 10M. And the above poster is correct. Most in finance don't make that much money early in their career, unless they are on the sell side, in which case they are working worse hours than biglaw with worse job security. And OH MAN YOUR WIFE'S PARENTS MAKE SIX FIGURES IN INVESTMENTS? Holy shit -- in 2013, that means their net investment worth was like $300k!!!! Dudes are rich!

In any event, comparing an established family's investment income to an early-career finance / biglaw individual is just silly. The end-point of big law and [stable] finance isn't to make BIG BUCKS NOW LETS RETIRE AND LIVE ON INVESTMENTS. It's to build a career. That takes ambition. That takes hard work and sacrifice (including time with kids, your spouse, your health). It's not easy. But success is there to be had. Surprise: top 1% success isn't easy, no matter how smart you are.

Disclaimer: if your goal isn't money, and you want to do whatever you want to do, and spend more time with your family -- more power to you. I respect it. But the notion that biglaw is a golden ticket and that those who land there out of law school are entitled to some grand career is unhealthy.


Apparently you can't read either. The range of partner salaries (from junior to rainmaker) is like 500k to 10mm at some NYC firms. NOT JUST JUNIOR PARTNER SALARIES.

If their investment income is 300k, and assuming a 3% rate of return, they have like over 10 million invested....so yeah that's a lot more FUCK YOU money than biglawyers (except partners) will ever have. If you aren't partner, you will never save 10 million in your ENTIRE LIFE working as a piece of shit lawyer. Just LOL - YOU CANT EVEN SAVE 10 FUCKING MILLION DOLLARS WORKING AS A LAWYER. And you will be working harder than them because they retired at age fucking 50 (while you are working until 80 because YOU HAVE ONLY ONE LITTLE MILLION SAVED UP) and they have like 10 MOTHERFUCKING PROPERTIES living it up IN ADDITION 10 million cash in the bank. Oh not to mention, they NEVER worked 80 hour weeks in their entire fucking life. And you know why? Because they aren't lawyers.

And considering most biglawyers make like the same or less money in 20 years, it's pretty easy to compare "established family investment income" with lawyer income. This salary isn't improving post biglaw...because it only goes downhill.

So yes, you work harder in law, you have less upside, and you have NO CHANCE at saving fuck you money because you aren't making partner at any biglaw firm. You might save a measly 2 peanut millions over the course of your ENTIRE life - that isn't even enough to retire on.


(completely unhinged)

BearLaw
Posts: 133
Joined: Sun Jun 17, 2012 6:23 pm

Re: 110 hour week

Postby BearLaw » Tue Apr 07, 2015 10:22 am

wildhaggis wrote:
BiglawAssociate wrote:
TTTooKewl wrote:
Dude is a troll or otherwise clueless. Range of salaries of a junior partner varies from 500k to 10M??? OH MAN! CRAZY! Where on earth did you get those numbers? If you aren't a troll, I hate to break it to you, but no junior partner is making 10M. And the above poster is correct. Most in finance don't make that much money early in their career, unless they are on the sell side, in which case they are working worse hours than biglaw with worse job security. And OH MAN YOUR WIFE'S PARENTS MAKE SIX FIGURES IN INVESTMENTS? Holy shit -- in 2013, that means their net investment worth was like $300k!!!! Dudes are rich!

In any event, comparing an established family's investment income to an early-career finance / biglaw individual is just silly. The end-point of big law and [stable] finance isn't to make BIG BUCKS NOW LETS RETIRE AND LIVE ON INVESTMENTS. It's to build a career. That takes ambition. That takes hard work and sacrifice (including time with kids, your spouse, your health). It's not easy. But success is there to be had. Surprise: top 1% success isn't easy, no matter how smart you are.

Disclaimer: if your goal isn't money, and you want to do whatever you want to do, and spend more time with your family -- more power to you. I respect it. But the notion that biglaw is a golden ticket and that those who land there out of law school are entitled to some grand career is unhealthy.


Apparently you can't read either. The range of partner salaries (from junior to rainmaker) is like 500k to 10mm at some NYC firms. NOT JUST JUNIOR PARTNER SALARIES.

If their investment income is 300k, and assuming a 3% rate of return, they have like over 10 million invested....so yeah that's a lot more FUCK YOU money than biglawyers (except partners) will ever have. If you aren't partner, you will never save 10 million in your ENTIRE LIFE working as a piece of shit lawyer. Just LOL - YOU CANT EVEN SAVE 10 FUCKING MILLION DOLLARS WORKING AS A LAWYER. And you will be working harder than them because they retired at age fucking 50 (while you are working until 80 because YOU HAVE ONLY ONE LITTLE MILLION SAVED UP) and they have like 10 MOTHERFUCKING PROPERTIES living it up IN ADDITION 10 million cash in the bank. Oh not to mention, they NEVER worked 80 hour weeks in their entire fucking life. And you know why? Because they aren't lawyers.

And considering most biglawyers make like the same or less money in 20 years, it's pretty easy to compare "established family investment income" with lawyer income. This salary isn't improving post biglaw...because it only goes downhill.

So yes, you work harder in law, you have less upside, and you have NO CHANCE at saving fuck you money because you aren't making partner at any biglaw firm. You might save a measly 2 peanut millions over the course of your ENTIRE life - that isn't even enough to retire on.


(completely unhingedperfectly suited for being a lawyer)


FIFY

Anonymous User
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Re: 110 hour week

Postby Anonymous User » Tue Apr 07, 2015 10:51 am

Well like most things, opportunity will determine how much you make. I will say this, he's right that you don't generally get rich from being a lawyer, but it does give you an opportunity to get rich if you make the right connections.

Probably best lesson I learned from my dad who is what many would consider a shitlaw lawyer in the midwest, is that you don't get rich from lawyer salary, you get rich from investments and buying into your client's small company when its cheap and cash out for double digit millions when it sells big and you hold 10% of the private stock.

Ironically that scenario is more likely open to small market "shitlaw" lawyers who work with small companies, spend their careers building relationships with a small group, and then cash out relatively big in the end. Plus even if you don't the best thing about being a lawyer is that you get to hang out with rich people while they do rich shit and take you along on their boats and ski trips and what not.

But dude's just wrong thinking you can't get ultra-net worth coming from law, just as you can coming from anything else. You just have to be a lucky m.f.

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Monochromatic Oeuvre
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Re: 110 hour week

Postby Monochromatic Oeuvre » Tue Apr 07, 2015 1:20 pm

This discussion of millionaires is weird. The ambition level the average person ITT seems to be (rightly) concerned with is making enough money to decently provide for a family while still managing to see said family regularly.

dixiecupdrinking
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Re: 110 hour week

Postby dixiecupdrinking » Tue Apr 07, 2015 2:52 pm

Yeah you can't easily get rich as a lawyer or in literally any other career. The whole point of being rich is that most people aren't.

You can be very well off in law and work your ass off, or you can be moderately well off and work less.

Anonymous User
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Re: 110 hour week

Postby Anonymous User » Tue Apr 07, 2015 3:02 pm

Isn't it the case that there are in-house positions that pay ~500k all in after a few years? I'm thinking of large banks/certain f500s? Would you all say that those positions are the balance between work/life and money?

Anonymous User
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Re: 110 hour week

Postby Anonymous User » Tue Apr 07, 2015 5:40 pm

This discussion of millionaires and making bank definitely seems off base given the discussion thus far.in the thread. Hell, im considering leaving biglaw entirely for a position that pays about 60K to start since it would allow for a huge amount of job satisfaction and far more manageable hours. I just cant view my biglaw time as anything more than a means by which to pay off my loans. Doesnt help that im stuck in a practice.group I never wanted to be in. So my strategy is to just grind it out until loans are gone and then resign myself to a lower standard of living in a position that would be far better from a personal satisfactipn standpoint. As ive said, life is too short. Dont want to be a millionaire. Just want to be happy and fulfilled, even if far lower standard of living.

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FSK
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Re: 110 hour week

Postby FSK » Tue Apr 07, 2015 5:42 pm

You can buy a house and have a great standard of living after biglaw if you move to ARE COUNTRY. I would be perfectly happy doing that.




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