Reasonable starting salary for a graduate of a Tier 2?

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Reasonable starting salary for a graduate of a Tier 2?

Postby cookie » Sun Apr 18, 2010 10:46 pm

I have pretty much narrowed my law school decisions to Tier 2 schools that will leave me with less than $50,000 in student loans (total over three years). However, I am still quite debt adverse and was wondering what the most realistic salary is for a graduating student at a Tier 2 law school (around high 70's to low 80's). Considering this is such an open question, lets say this is the worst case scenario, but I do find a law job as an attorney.

Any responses are appreciated.

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gwuorbust
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby gwuorbust » Sun Apr 18, 2010 10:58 pm


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kalvano
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby kalvano » Sun Apr 18, 2010 10:59 pm

$50K.

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FunkyJD
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby FunkyJD » Sun Apr 18, 2010 11:01 pm

p. 44 = sobering :shock:

r6_philly
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby r6_philly » Mon Apr 19, 2010 12:02 am

FunkyJD wrote:p. 44 = sobering :shock:


On the other hand, the T10 column is really personally reassuring to see that there is no big different between big law, mid law and small law. Furthermore, according to page 43 grades doesn't matter as much at T10.

Everyone considering paying sticker outside of T10 should pay attention to this.

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FunkyJD
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby FunkyJD » Mon Apr 19, 2010 12:07 am

r6_philly wrote:
FunkyJD wrote:p. 44 = sobering :shock:


On the other hand, the T10 column is really personally reassuring to see that there is no big different between big law, mid law and small law. Furthermore, according to page 43 grades doesn't matter as much at T10.

Everyone considering paying sticker outside of T10 should pay attention to this.

QFT.

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Doritos
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby Doritos » Mon Apr 19, 2010 12:55 am

gwuorbust wrote:http://www.americanbarfoundation.org/uploads/cms/documents/ajd.pdf

see pages 43 and 44


Fantastic resource. Thanks.

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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby 公诉人 » Mon Apr 19, 2010 1:14 am

r6_philly wrote:
FunkyJD wrote:p. 44 = sobering :shock:


On the other hand, the T10 column is really personally reassuring to see that there is no big different between big law, mid law and small law. Furthermore, according to page 43 grades doesn't matter as much at T10.

Everyone considering paying sticker outside of T10 should pay attention to this.



the difference doesn't lie in just the salary, biglaw means better chances to lateral and horizontally move. Working in biglaw means you can lateral to another industry, that is something that midlaw will not allow you to do. It's a gold star on your resume, much in the same way HYS is. It also means larger bonuses, and if you're going for partnership, a much better return on your time investment. BIGLAW partners make a hell of a lot more than small and mid law partners. IT is also possible to lateral into a midlaw partner position from associate status from a BIGLAW firm. These are the unquantifiable intangibles that make BIGLAW V10 what it is. Oh yea, and the bonuses arent bad ;)

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legalease9
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby legalease9 » Mon Apr 19, 2010 2:55 am

gwuorbust wrote:http://www.americanbarfoundation.org/uploads/cms/documents/ajd.pdf

see pages 43 and 44


This is a great source!

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Nom Sawyer
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby Nom Sawyer » Mon Apr 19, 2010 3:16 am

legalease9 wrote:
gwuorbust wrote:http://www.americanbarfoundation.org/uploads/cms/documents/ajd.pdf

see pages 43 and 44


This is a great source!



+1

kams
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby kams » Mon Apr 19, 2010 3:25 am

I think it really depends on the law school's location and your class rank. Where I'm from, students from the local tier 2 law school rake in around $35,000 to $40,000. If you go to a tier 2 law school near a very large city and kick ass in your grades, it could be around high 70's to low 80's. But I don't think it would be wise to fool yourself into thinking high 70's to low 80's will be the worst case scenario, or even an average case scenario. Probably good to best case scenario would be around there.

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General Tso
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby General Tso » Mon Apr 19, 2010 3:30 am

Everybody talking about this 'great source' should check its publication date. It is a nice study but it's 6 years old. I would imagine things are worse now.

r6_philly
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby r6_philly » Mon Apr 19, 2010 10:13 am

公诉人 wrote:the difference doesn't lie in just the salary, biglaw means better chances to lateral and horizontally move. Working in biglaw means you can lateral to another industry, that is something that midlaw will not allow you to do. It's a gold star on your resume, much in the same way HYS is. It also means larger bonuses, and if you're going for partnership, a much better return on your time investment. BIGLAW partners make a hell of a lot more than small and mid law partners. IT is also possible to lateral into a midlaw partner position from associate status from a BIGLAW firm. These are the unquantifiable intangibles that make BIGLAW V10 what it is. Oh yea, and the bonuses arent bad ;)


Thanks for this info. I really appreicate it as I didn't know much about the differences. I will most likely not be able to do get into big law for personal/family reasons, so it is comforting to see that salary potential is not incredibly diminished at the smaller firms (For a T10 grad). My plan is to practice in a firm for a little while for experience before moving to solo or small practice, or to industry, or to academia. I have no interest in lateral moves or making partner. I was working under the assumption that $80-100k is about what I can expect outside of big law, so seeing higher numbers for T10 grads is really good news. And the fact that grades don't matter as much is really good news. I am used to reading general advice on TLS and I take them to heart. I just didn't expect that T10 stands apart from the general rules.

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Rand M.
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby Rand M. » Mon Apr 19, 2010 10:30 am

swheat wrote:Everybody talking about this 'great source' should check its publication date. It is a nice study but it's 6 years old. I would imagine things are worse now.


The fact that it is older was immediately apparent to me as those salaries for the larger firm don't reflect the new definition of "market" (160k). I think if anything things aren't necessarily worse, just different. I would think that there is a greater gulf right now between the top and the bottom. It seems like the middle is shrinking and the industry is becoming more and more bimodal.

pollaclc
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby pollaclc » Mon Apr 19, 2010 10:33 am

seeing schools 21-100 lumped together = *cries*

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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby cookie » Mon Apr 19, 2010 3:59 pm

I apologize for the lateness in my response. Rest assured, I appreciate all the advice, including the table and some of your personal opinions. I am simply trying to make an informed decision like many others here on this board. I say worst case scenario because I essentially want to imagine myself as lower 25 to 50 % at the school I choose to attend and see how I can handle the debt. I do not think I will do this poorly, but you never know. I think 35 k would be a bit low for what i'm hoping, but the jump up to $40,000 would certainly be reasonable.

Thank you

toolfan
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Re: Reasonable starting salary for a graduate of a Tier 2?

Postby toolfan » Mon Apr 19, 2010 4:04 pm

On an 80k salary, you should expect to pocket 59-60k after taxes etc. On a 40k salary, prob near low 30's.




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