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(Please Ask Questions and Answer Questions)
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acadec
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Postby acadec » Wed Jul 28, 2010 8:29 pm

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Last edited by acadec on Wed Mar 02, 2011 7:03 pm, edited 1 time in total.

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como
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Re: How to be rich and still enter politics

Postby como » Wed Jul 28, 2010 8:39 pm

It's not a bad idea to start biglaw, then try to work for a foundation or some board. I think Michelle Obama worked for some hospitals or something. I know, I know, she wasn't the politician. I think she was the bread-winner though. Hillary Clinton worked midlaw and then made some controversial investments. Basically, there are tons of ways to get rich and be in politics. However, I think being rich is somewhat of a necessary condition.

fear&loathingintexas
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Re: How to be rich and still enter politics

Postby fear&loathingintexas » Wed Jul 28, 2010 10:30 pm

If you want to be rich and enter politics, stay the hell away from politics until you get rich.

Fmr. Gov. Mitt Romney, R-Mass. (Harvard JD/MBA '75): made his money in management consulting and venture capital, never practiced law a day in his life, didn't enter politics until he ran against Sen. Kennedy in 1994

Sen. Mark Warner, D-Va. (Harvard JD '80): also never worked as an attorney; invested in Nextel in the '80s; first elected to public office in 2001 as Governor of Virginia

Rick Snyder, R-Mich. (Michigan JD/MBA '82): running for Governor of Michigan; worked in Big 4 Accounting and tech start-ups

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go4hls
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Re: How to be rich and still enter politics

Postby go4hls » Wed Jul 28, 2010 10:49 pm

Wait, am I reading that title right? Isn't saying "How to be rich and still enter politics" a bit like saying "How to be good looking and still become a model" ??

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Mr. Matlock
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Re: How to be rich and still enter politics

Postby Mr. Matlock » Wed Jul 28, 2010 10:58 pm

--ImageRemoved--

Meg Whitman, CEO of EBAY, Republican for Governor of CA.... BILLIONAIRE

Image

Carly Fiorina, CEO of Hewlett-Packard, Republican for CA Senate

Image

Ahnold.... the Governator. Pretty fucking rich too!


Write a letter to any of these pimps and ask them if it's been a problem.

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acadec
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Re: How to be rich and still enter politics

Postby acadec » Thu Jul 29, 2010 12:00 am

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Last edited by acadec on Wed Mar 02, 2011 7:04 pm, edited 1 time in total.

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LAWYER2
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Re: How to be rich and still enter politics

Postby LAWYER2 » Thu Jul 29, 2010 2:22 am

If your question is leaning more towards "How to make good living, while posturing yourself in the political arena?" I would suggest seeking work within a large corporation in government relations and compliance. You have the opportunity to earn a nice salary all while making government connections that will last long after you've moved on from the job.

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acadec
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Re: How to be rich and still enter politics

Postby acadec » Thu Jul 29, 2010 9:49 am

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Last edited by acadec on Wed Mar 02, 2011 7:06 pm, edited 1 time in total.


Bryan
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Re: How to be rich and still enter politics

Postby Bryan » Mon Aug 02, 2010 10:53 pm

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Last edited by Bryan on Tue Mar 08, 2011 12:54 pm, edited 1 time in total.

jrs12
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Re: How to be rich and still enter politics

Postby jrs12 » Mon Aug 02, 2010 10:58 pm

I wish everyone were required to have a legitimate career before running for elected office.

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Nom Sawyer
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Re: How to be rich and still enter politics

Postby Nom Sawyer » Mon Aug 02, 2010 11:00 pm

Suggestions for new thread title:

"How to be tall and still play Basketball"

"How to be skinny and still be a model"

"How to be tired and still fall asleep"

:mrgreen:

Al Prufrock
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Re: How to be rich and still enter politics

Postby Al Prufrock » Tue Aug 03, 2010 11:35 am

Nom Sawyer wrote:Suggestions for new thread title:

"How to be tall and still play Basketball"

"How to be skinny and still be a model"

"How to be tired and still fall asleep"

:mrgreen:

:lol:

What about DOJ?

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jdstl
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Re: How to be rich and still enter politics

Postby jdstl » Wed Aug 04, 2010 5:52 pm

I think the key to entering politics is simply getting in good with local party elites who can get you started running for offices (most candidates are "recruited" for races by a local party apparatus, they don't just decide to run by themselves-- with some exceptions, of course).

To this end, I can see either the BigLaw/Corporate route or the Public Service/Government route being effective if you know how to leverage the advantages of each.

BigLaw Advantages= money , access to business elites, potential for part time $$$ (ie., I'm sure most firms would be more than happy to lower those billable hour reqs in order to get a State Senator on retainer).

Public Service Advantages= more favorable resume, access to political elites (depending on position), more time to become involved in politics before running for office.

So if you were a BigLaw associate trying to swing a political career: work for 4-5 years, save as much money as possible (but not in a 401k). Figure out who the influential political elites are in your community and spread some money around (not illegally,just campaign donations). Try to serve on nonprofit boards/get to know community leaders through whatever involvement possible. Once you're in good with the local elites, tell the local party leader that you'd like to run for office, and will wait to help the party in a race that needs a good candidate. In reality, most of the time the party will come to an attractive candidate and offer their support.

I think a biglaw associate who played his/her cards right could have A) A sizable personal campaign war chest B) Access to a great fund raising base (other Biglaw associates and C) A powerful local network underpinned by well placed campaign donations.

For a public service route, similar strategy, but more of a focus on networking and less on $$$ (since you won't have a lot to spare).

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sundevil77
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Re: How to be rich and still enter politics

Postby sundevil77 » Wed Aug 04, 2010 6:03 pm

OP, I actually thought quite a bit about this before making my decision to attend law school. While it is almost a necessity to be able to self-fund a least a portion of a political campaign, a career as a lawyer won't give you enough for a bid for an expensive race like a congressional seat. Depending on where you live, you might be able to make a decent bid for a state seat based on a decent Biglaw salary.

In AZ, I know Sen. Kyl went to work in private practice at a big Phoenix firm, but his wikipedia page notes that his work focused primarily on lobbying. I think that speaks to an earlier posters point: you need to be able to develop a good network and make useful contacts in whatever job you choose.

Really there is no set path to Congress. You could find someone in Congress from nearly every walk of life. Just be active in local politics, make large donations when you can, and develop your network.

09042014
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Re: How to be rich and still enter politics

Postby 09042014 » Wed Aug 04, 2010 6:13 pm

Politicians live a rich lifestyle even if they aren't rich.




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