Life after Big Law

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Real Madrid
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Joined: Mon May 30, 2011 12:21 am

Life after Big Law

Postby Real Madrid » Mon Jul 04, 2011 3:01 pm

There's a lot of talk about Big Law on these forums and the lifestyle it comes with. But I can't find a lot of info on life after Big Law. What usually happens to those 80+% associates who don't make partner?

Also, if people were making, say, 240k after 5ish years and get pushed out or leave voluntarily, what are the chances they'll ever make it back to a salary in the Big Law range, and when (if ever) will it happen?

schooner
Posts: 374
Joined: Sat May 14, 2011 6:50 pm

Re: Life after Big Law

Postby schooner » Mon Jul 04, 2011 4:17 pm

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Last edited by schooner on Sun May 03, 2015 12:29 am, edited 1 time in total.

admisionquestion
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Joined: Sun Sep 26, 2010 12:16 am

Re: Life after Big Law

Postby admisionquestion » Mon Jul 04, 2011 8:05 pm

Hmm,

So I know graduates enter an almost entirely bi-modal market with peaks at 160 and something like 50,000. The 160 peak being fairly firm and the 50,000 being much more spread out between 70,00 and unemployed.

So, what sort of wages are typical for people if they can't handle big law. So lets say, they make big law and practice for 3 years before dropping. Are they stuck with 50,000 shit law or do they then become ideal recruits for boutiques and decently paid in-house etc.

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thesealocust
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Re: Life after Big Law

Postby thesealocust » Mon Jul 04, 2011 8:13 pm

A large number of jobs people leave big firms for (federal government, other firms, inhouse counsel) have competitive pay packages (probably in the low 6-figures) but are a paycut. My guess is people don't wind up forced into jobs that pay a quarter of what they used to be making, though I'm sure some voluntarily leave the legal field or jump to public interest work that would put them in that pay bracket.

InLikeFlint
Posts: 132
Joined: Sat Oct 23, 2010 6:58 pm

Re: Life after Big Law

Postby InLikeFlint » Mon Jul 04, 2011 8:19 pm

admisionquestion wrote:Hmm,

So I know graduates enter an almost entirely bi-modal market with peaks at 160 and something like 50,000. The 160 peak being fairly firm and the 50,000 being much more spread out between 70,00 and unemployed.

So, what sort of wages are typical for people if they can't handle big law. So lets say, they make big law and practice for 3 years before dropping. Are they stuck with 50,000 shit law or do they then become ideal recruits for boutiques and decently paid in-house etc.


I think the bi-modal distribution is for first-year attorneys. Salaries five to ten years out should be much more varied.

admisionquestion
Posts: 473
Joined: Sun Sep 26, 2010 12:16 am

Re: Life after Big Law

Postby admisionquestion » Mon Jul 04, 2011 10:35 pm

thesealocust wrote:A large number of jobs people leave big firms for (federal government, other firms, inhouse counsel) have competitive pay packages (probably in the low 6-figures) but are a paycut. My guess is people don't wind up forced into jobs that pay a quarter of what they used to be making, though I'm sure some voluntarily leave the legal field or jump to public interest work that would put them in that pay bracket.



I believe this could be true, but can you (or anyone) point me in the direction of data to confirm that?

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Doritos
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Re: Life after Big Law

Postby Doritos » Mon Jul 04, 2011 11:14 pm

thesealocust wrote:A large number of jobs people leave big firms for (federal government, other firms, inhouse counsel) have competitive pay packages (probably in the low 6-figures) but are a paycut. My guess is people don't wind up forced into jobs that pay a quarter of what they used to be making, though I'm sure some voluntarily leave the legal field or jump to public interest work that would put them in that pay bracket.


thesealocust is always right.

http://www.bcgsearch.com/article/60630/ ... Fair-Deal/

http://www.insidecounsel.com/2011/02/01 ... ary-report

admisionquestion
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Joined: Sun Sep 26, 2010 12:16 am

Re: Life after Big Law

Postby admisionquestion » Mon Jul 04, 2011 11:36 pm

Thanks a ton. TLS is the best community evah...

CanadianWolf
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Re: Life after Big Law

Postby CanadianWolf » Tue Jul 05, 2011 10:32 am

A potential weakness of an unemployed biglaw associate is the inability to bring in clients. Another weakness might be inexperience in handling most or all aspects of an entire case.
Biglaw associates that last only a few years enjoy high earnings at the expense of building their own business thus, if unable to attain employment in another large law firm, might be tempted to leave the profession if the thought of starting from scratch seems overwhelming.




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