Biglaw Exit salary

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starry eyed
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Re: Biglaw Exit salary

Postby starry eyed » Mon Feb 09, 2015 6:47 pm

Ok so a biglaw refugee making 100k w/benefits is a somewhat desirable outcome. What does the guy who started in a 2-10 attorney firm make 5-6 years in if he starts at 60k?

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Lacepiece23
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Re: Biglaw Exit salary

Postby Lacepiece23 » Mon Feb 09, 2015 11:43 pm

starry eyed wrote:Ok so a biglaw refugee making 100k w/benefits is a somewhat desirable outcome. What does the guy who started in a 2-10 attorney firm make 5-6 years in if he starts at 60k?


I can't speak but from anecdotal advice, but from what I've heard it depends. I think in law salary can be tied a lot more to skill than other professions. A great litigator who starts out small has a much higher ceiling than a shitty attorney who has zero court presence. Also, business development skills can tie into income a lot from what it seems. A lot of your options/salary by then will depend on how good of an attorney you actually are.

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UnicornHunter
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Re: Biglaw Exit salary

Postby UnicornHunter » Mon Feb 09, 2015 11:51 pm

starry eyed wrote:Ok so a biglaw refugee making 100k w/benefits is a somewhat desirable outcome. What does the guy who started in a 2-10 attorney firm make 5-6 years in if he starts at 60k?


Agree with above, but it's going to be more than just skill that determines this... market, contacts, specialty, fee structure, etc....

If you're at a small p side firm and you get a big contingency case, you can be a millionaire or broke after 5 years. There's no predictable way to answer this question without more information. On the other hand, if you're at a small family law firm and you start at 60k... you might be making 60k in 5 years. You eat what you kill.

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starry eyed
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Re: Biglaw Exit salary

Postby starry eyed » Tue Feb 10, 2015 1:53 pm

I can't speak but from anecdotal advice, but from what I've heard it depends. I think in law salary can be tied a lot more to skill than other professions. A great litigator who starts out small has a much higher ceiling than a shitty attorney who has zero court presence. Also, business development skills can tie into income a lot from what it seems. A lot of your options/salary by then will depend on how good of an attorney you actually are.


Since you mentioned specialties, what are some of the more lucrative specialties for smaller firms? (disregarding outliers like PI plaintiff work and family law on the other end). Does litigation pay better? I've heard the general biglaw advice for secure exit options is to go with corporate transaction work. I appreciate the anecdotes.




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