Are you making 3x your tuition?

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Scotusnerd
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Are you making 3x your tuition?

Postby Scotusnerd » Mon Dec 19, 2011 10:47 am

Think this is accurate? I just found this while cruisin' law.com

http://thecareerist.typepad.com/thecareerist/2011/12/law-school-news.html

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johnnyutah
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Re: Are you making 3x your tuition?

Postby johnnyutah » Mon Dec 19, 2011 6:01 pm

Scotusnerd wrote:Think this is accurate? I just found this while cruisin' law.com

http://thecareerist.typepad.com/thecareerist/2011/12/law-school-news.html

I make about .75x my annual tuition.

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20130312
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Re: Are you making 3x your tuition?

Postby 20130312 » Mon Dec 19, 2011 6:13 pm

Scotusnerd wrote:Think this is accurate? I just found this while cruisin' law.com

http://thecareerist.typepad.com/thecareerist/2011/12/law-school-news.html


Probs the most worthless article I've ever read. Comparing law school starting salaries to b school salaries is silly, since you basically need at least 3-5 years of experience to get into the top MBA programs. The salaries they cited were probably for some people that had been working for much longer than that and already making good money by the time they decided to get their MBA.

Also, that chick is pretty cute.

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dailygrind
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Re: Are you making 3x your tuition?

Postby dailygrind » Mon Dec 19, 2011 6:53 pm

I've decided to drop out of school and enroll in Cooley at like 1k a year so when I graduate and work as a waiter, I will be able to easily afford a new home on my 25k a year salary.

thebrookdweller
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Re: Are you making 3x your tuition?

Postby thebrookdweller » Mon Dec 19, 2011 9:14 pm

Is 3x tuition even feasible in this economy? I'm going back next semester to finish my undergrad and the tuition for the state school I'll get my degree from is 20k a semester...I've only known one person who could get 60k right after college, most have started at 30k with their degrees.

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AreJay711
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Re: Are you making 3x your tuition?

Postby AreJay711 » Mon Dec 19, 2011 9:17 pm

thebrookdweller wrote:Is 3x tuition even feasible in this economy? I'm going back next semester to finish my undergrad and the tuition for the state school I'll get my degree from is 20k a semester...I've only known one person who could get 60k right after college, most have started at 30k with their degrees.

Most people don't buy homes right after undergrad and graduate with less than that much debt though. I think this is just another "Why not to go to law school" article.

lawschoolgrapedme
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Re: Are you making 3x your tuition?

Postby lawschoolgrapedme » Sat Dec 24, 2011 9:18 pm

Question: Am I making 3x my tuition?

Answer: Yes.

Lesson: Don't go to a TTT (or even anything outside the T14).

Transferthrowaway
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Re: Are you making 3x your tuition?

Postby Transferthrowaway » Sat Dec 24, 2011 9:33 pm

Anyone who has biglaw easily makes 3-4x their tuition.

bdubs
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Re: Are you making 3x your tuition?

Postby bdubs » Sat Dec 24, 2011 9:45 pm

Most T14 students will end up making 3x their tuition, but not 3x their cost of attendance. If you take out full COA in loans at a T14 you will need to pay some of them down before digging yourself deeper into the hole with a real estate purchase.

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Scotusnerd
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Re: Are you making 3x your tuition?

Postby Scotusnerd » Sun Dec 25, 2011 10:41 am

I was starting to wonder if something was wrong with the community. I was expecting 'Biglaw or Bust' from the outset. Glad to see you guys finally found the thread! :lol:

Dailygrind made me laugh.

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180asBreath
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Re: Are you making 3x your tuition?

Postby 180asBreath » Sun Dec 25, 2011 10:45 am

"A Columbia Business School grad landed a $300,000-a-year hedge fund job this year and possibly received a guaranteed bonus of $235,000, according to the school’s just released 2011 employment report.

As large as that potential windfall might be—a total of $535,000–it still wouldn’t allow that person to surpass this year’s graduating Stanford MBA who reported to his school that he received a guaranteed bonus alone of $500,000. That person’s likely total annual compensation: $675,000."

If only I didn't have a soul... haha.

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CactusPuppy
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Re: Are you making 3x your tuition?

Postby CactusPuppy » Sat Dec 31, 2011 9:36 am

johnnyutah wrote:
Scotusnerd wrote:Think this is accurate? I just found this while cruisin' law.com

http://thecareerist.typepad.com/thecareerist/2011/12/law-school-news.html

I make about .75x my annual tuition.


In 2007 and 2008, I made 2.00x my 2011-2012 law school tuition.
In 2009 and 2010, I made 1.00x
In 2011, I made 0.15x =(

83947368
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Re: Are you making 3x your tuition?

Postby 83947368 » Sun Jan 08, 2012 4:50 pm

.
Last edited by 83947368 on Wed Jul 25, 2012 2:56 pm, edited 1 time in total.

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Patriot1208
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Re: Are you making 3x your tuition?

Postby Patriot1208 » Mon Jan 09, 2012 5:03 pm

180asBreath wrote:"A Columbia Business School grad landed a $300,000-a-year hedge fund job this year and possibly received a guaranteed bonus of $235,000, according to the school’s just released 2011 employment report.

As large as that potential windfall might be—a total of $535,000–it still wouldn’t allow that person to surpass this year’s graduating Stanford MBA who reported to his school that he received a guaranteed bonus alone of $500,000. That person’s likely total annual compensation: $675,000."

If only I didn't have a soul... haha.

That's only one person. The median person out of Columbia's b school will likely be making somewhere around biglaw money. The upside is a lot higher but you also have to have multiple years of work experience to get in and that work experience largely dictates where you end up after b school. Meaning, almost every person that goes from B school to PE/VC/HF will probably have had a PE/VC/HF or at least BB IBD job before b school. Even at Harvard the biggest employers are MBB, which pay roughly biglaw money all in to new associates. And the one guy I know at Harvard's b school will tell you that unless you had good finance experience before getting your MBA, you aren't getting good finance interviews.

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dingbat
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Re: Are you making 3x your tuition?

Postby dingbat » Sat Jan 14, 2012 9:25 am

This is complete dung.
Yes, many people make more money coming out of business school - working for an investment bank or hedge fund.
However, huge numbers of those people have been let go right now. Both investment banks and hedge funds are very quick to fire people. Most of those high earners don't last 5 years with such a salary and many don't even make 12 months.
Right now, there are no finance jobs around and everyone who has one is panicking they don't lose theirs.
I work closely with lots of investment banks and hedge funds and I'm telling this out of experience.

Also, as for debt standards, it's not about earning a multiple. If you're earning 150,000 living in the Dakotas, you'll have a good life, even if you've racked up $250,000 in law school debt.
However, if you're living in NYC and making $150,000, you still can't afford to buy an apartment even if you got a free ride and came out debt free.

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mattviphky
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Re: Are you making 3x your tuition?

Postby mattviphky » Sun Jan 15, 2012 2:18 pm

CactusPuppy wrote:
johnnyutah wrote:
Scotusnerd wrote:Think this is accurate? I just found this while cruisin' law.com

http://thecareerist.typepad.com/thecareerist/2011/12/law-school-news.html

I make about .75x my annual tuition.


In 2007 and 2008, I made 2.00x my 2011-2012 law school tuition.
In 2009 and 2010, I made 1.00x
In 2011, I made 0.15x =(


i hope it is rapid tuition increase and not salary decrease

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20130312
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Re: Are you making 3x your tuition?

Postby 20130312 » Mon Jan 16, 2012 12:49 pm

mattviphky wrote:
CactusPuppy wrote:
johnnyutah wrote:
Scotusnerd wrote:Think this is accurate? I just found this while cruisin' law.com

http://thecareerist.typepad.com/thecareerist/2011/12/law-school-news.html

I make about .75x my annual tuition.


In 2007 and 2008, I made 2.00x my 2011-2012 law school tuition.
In 2009 and 2010, I made 1.00x
In 2011, I made 0.15x =(


i hope it is rapid tuition increase and not salary decrease


Considering they said 2011-2012 was when they were in law school, I'm going to guess they were working in '07 and '08 and not in law school yet. In other words, the change is almosts definitely due to salary decrease (with perhaps a sprinkle of tuition increase).

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hoos89
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Re: Are you making 3x your tuition?

Postby hoos89 » Tue Jan 17, 2012 3:42 pm

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