Ultimate Goal?

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Anonymous User
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Ultimate Goal?

Postby Anonymous User » Thu May 14, 2015 8:36 am

Hey all, I was looking through the various threads, and everyone (or most everyone) who plans on going the biglaw route doesn't intend to stay there, so in general, what's the ideal plan? work BL for two years, pay off your student loans (or get some savings in the bank) then what?

Can you go to a boutique firm where your hours are more reasonable and the pay is similar?
Do you go to a different firm? What's the ultimate goal job-wise?
Do you stay at BL for five instead of two years?

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bk1
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Re: Ultimate Goal?

Postby bk1 » Thu May 14, 2015 8:13 pm

"Ideal" plan is going to vary from person to person. I think what you're seeing from those threads is the general recognition that the average biglaw associate doesn't last more than a few years.

There are very few jobs where you're going to command the same level of pay while working fewer hours. Some people want to go to smaller firms. Some people want to work in-house. Some people want to work for the government. But the reality is that many people will work for smaller firms or leave the law altogether. Of course plenty of people go in-house or to the government, but they make up a smaller percentage.

TheGenWhyLawyer
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Re: Ultimate Goal?

Postby TheGenWhyLawyer » Thu May 14, 2015 9:42 pm

I agree with bk1. The "ideal" plan will vary. The Gen Y generation of attorneys seem to be less interested in the hectic demands of BL, in my opinion, which might explain why so many young attorneys don't last at BL firms. With that said, echoing what Bk1 said, there are many routes for new attorneys to take and as long as you're happy wherever you go, you'll be able to be successful and make money.

mod edit: link removed

Anonymous User
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Re: Ultimate Goal?

Postby Anonymous User » Fri May 15, 2015 9:38 am

So if you are goin to stay in law, is the generally accepted route to go either in house or for a boutique firm?

I'm sure the pay is less, but is it fair to assume that it's comparable?

And the reason people can't handle biglaw but they make the move in house or smaller boutiques is due to the hours and the less stress?

ruski
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Re: Ultimate Goal?

Postby ruski » Fri May 15, 2015 9:52 am

TheGenWhyLawyer wrote:I agree with bk1. The "ideal" plan will vary. The Gen Y generation of attorneys seem to be less interested in the hectic demands of BL, in my opinion, which might explain why so many young attorneys don't last at BL firms. With that said, echoing what Bk1 said, there are many routes for new attorneys to take and as long as you're happy wherever you go, you'll be able to be successful and make money.

mod edit: link removed


I don't think this is correct. it used to be biglaw was the only way to be rich (i.e. upper middle). there was really no such thing as in house, and there were very few if any well-paying midlaw firms, and making partner was way more doable if you wanted to make the sacrifice. but today there are wayyy more options. when you are working biglaw as a third or fourth year, you get a call everyday from a recruiter about a midlaw firm that will pay you 90% of your pay for way better hours. it honestly doesn't make sense not to take it. making partner is impossible anyways. to stay as a biglaw midlevel to make an extra 10k after tax doesn't make any sense. I think that's why people have been fleeing biglaw. Im at a v10 and its amazing how many midlevels we lose to smaller firms . its not that gen y can't take the demands of biglaw, its just that there is no real reason to take put up with it. ull get canned in a few more years later anyways.

togoornottogo
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Re: Ultimate Goal?

Postby togoornottogo » Fri May 15, 2015 10:02 am

ruski wrote:
TheGenWhyLawyer wrote:I agree with bk1. The "ideal" plan will vary. The Gen Y generation of attorneys seem to be less interested in the hectic demands of BL, in my opinion, which might explain why so many young attorneys don't last at BL firms. With that said, echoing what Bk1 said, there are many routes for new attorneys to take and as long as you're happy wherever you go, you'll be able to be successful and make money.

mod edit: link removed


I don't think this is correct. it used to be biglaw was the only way to be rich (i.e. upper middle). there was really no such thing as in house, and there were very few if any well-paying midlaw firms, and making partner was way more doable if you wanted to make the sacrifice. but today there are wayyy more options. when you are working biglaw as a third or fourth year, you get a call everyday from a recruiter about a midlaw firm that will pay you 90% of your pay for way better hours. it honestly doesn't make sense not to take it. making partner is impossible anyways. to stay as a biglaw midlevel to make an extra 10k after tax doesn't make any sense. I think that's why people have been fleeing biglaw. Im at a v10 and its amazing how many midlevels we lose to smaller firms . its not that gen y can't take the demands of biglaw, its just that there is no real reason to take put up with it. ull get canned in a few more years later anyways.


I keep reading on TLS about the lack of movement in the litigation practice groups, and that corporate hiring is really heating up. Does your statement about midlevels getting hounded to jump ship to relatively green pastures apply to lawyers in the litigation practice group?

FloridaCoastalorbust
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Re: Ultimate Goal?

Postby FloridaCoastalorbust » Fri May 15, 2015 10:49 am

Ultimate goal is eudaimonia

PapaMolly
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Re: Ultimate Goal?

Postby PapaMolly » Fri May 15, 2015 6:57 pm

The Gen Y generation of attorneys seem to be less interested in the hectic demands of BL


its not that gen y can't take the demands of biglaw, its just that there is no real reason to take put up with it.


Do you think its that Gen Y just doesn't place a high value on wealth, so their inflection point on the laffer curve is lower than those of earlier generations (i.e. rather make comfortable money and have more time than mega money, no time)?

blsingindisguise
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Re: Ultimate Goal?

Postby blsingindisguise » Fri May 15, 2015 8:47 pm

Just FYI you're not going to get 90% of your big law pay for way better hours. Maybe 70-75%. But it's still worth it.

zot1
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Re: Ultimate Goal?

Postby zot1 » Fri May 15, 2015 11:00 pm

Government all the way




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