Irvine Now, Michigan in 2012?

Share Your Experiences, Read About Other Experiences. Please keep posts organized by school and expected year of graduation.

Where would you go?

1. Irvine 1/2 tuition scholarship
7
26%
2. Michigan in 2012 at sticker, keep working in the meantime
20
74%
 
Total votes: 27

sealoquesea
Posts: 16
Joined: Sat Aug 07, 2010 4:11 pm

Irvine Now, Michigan in 2012?

Postby sealoquesea » Wed Feb 09, 2011 2:26 am

So, I have had a very different cycle from when I first posted this:

1. Irvine, $75k of debt or less for 2011
2. Keep working, go to Michigan in 2012, presumably at sticker. Received deferred admission.

I have enough in savings to cover living expenses at either school.

I want to work and live either in either South Florida or Southern California where I have ties to both.
I have guaranteed legal ties/connections to the San Diego legal market (yes guaranteed)

I went to Irvine's ASD and liked it. I would like to live in SoCal after graduation, and I like wearing shorts in the winter.
Michigan seems amazing, didn't think I'd get in. Am worried I am just being a prestige whore--and am probably asking this question to the wrong group of people. I would keep working as an analyst in a private equity firm. I hate my current job. Its dull and the people are assholes. I am interviewing a lot for other jobs. But making money is nice...

Should i just suck it up, pay the extra 70k, go to Michigan, freeze my ass off, do big law when i graduate?

And before people condemn me for making this decision, no i am not an idiot. I went to Penn undergrad, am very very debt adverse and don't know if Michigan is where I should go if I don't think I want big law now... Things could change, but I rather do personal injury or something along those lines where I could be my own boss down the line.

Thanks again
Last edited by sealoquesea on Sat Apr 02, 2011 1:50 pm, edited 2 times in total.

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Knock
Posts: 5152
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Re: UMiami, Irvine, or a Private Equity Firm?

Postby Knock » Wed Feb 09, 2011 2:27 am

sealoquesea wrote:So, it seems like I have two options at the end of the day for law school that I am leaning towards.

1. Irvine, $75k of debt or less
2. U Miami $60 k of debt or less
3. Keep working at a private equity firm

I have enough in savings to cover living expenses at either school.

I want to work and live either in South Florida or Southern California where I have ties to both.
I have guaranteed legal ties/connection to the San Diego legal market (yes guaranteed)

Irvine seems innovative, personal and supportive. Who knows where it will end up in the rankings...
Miami offers another legal market to establish ties, a lower cost of living post graduation, and a strong focus on
Latin America which is definitely my strongest interest right now. However it seems to have bleak employment prospects and seems less personal overall.

My other option is to keep working as an analyst in a private equity firm. While its prestigious and offers promise for an MBA and potentially a very lucrative job down the road

Would love to hear any advice


How much money do you make at the private equity firm, what are your hours like, and how much do you enjoy the job?

bhan87
Posts: 850
Joined: Mon Mar 12, 2007 8:08 pm

Re: UMiami, Irvine, or a Private Equity Firm?

Postby bhan87 » Wed Feb 09, 2011 2:32 am

In this economy, I'd go with the private equity firm for at least a few years. Law school will still be an option a few years down the road so it's sensible to save up money and see how the legal market is later. If it's still crap you can go the MBA route. If it's less crappy you'll improve your chances with WE

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Verity
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Re: UMiami, Irvine, or a Private Equity Firm?

Postby Verity » Wed Feb 09, 2011 2:35 am

What do you really want to do? Do you want to be a lawyer or an investor/banker? If you haven't figured that out yet, we can't help you. The only thing I will say is that you have to judge the stability and down-the-road prospects of your current job, and weigh that against a horrible job market for new lawyers (especially coming out of Irvine or Miami) should your "guaranteed" job in San Diego fall through. I'd probably say stay put for a year, reassess, retake the LSAT and shoot for at least T14.

Danteshek
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Joined: Wed Dec 10, 2008 4:40 pm

Re: UMiami, Irvine, or a Private Equity Firm?

Postby Danteshek » Wed Feb 09, 2011 2:35 am

Depends on the type of private equity firm, and what exactly you are doing. There are tons of crappy PE firms, and tons of analysts who are really used car salesmen.

jck4487
Posts: 112
Joined: Tue Nov 09, 2010 3:15 am

Re: UMiami, Irvine, or a Private Equity Firm?

Postby jck4487 » Wed Feb 09, 2011 2:36 am

Have you visited UC Irvine? I would seriously recommend it--no other school I visited could compare to it.

sealoquesea
Posts: 16
Joined: Sat Aug 07, 2010 4:11 pm

Re: UMiami, Irvine, or a Private Equity Firm?

Postby sealoquesea » Wed Feb 09, 2011 2:49 am

1. The PE job is prestigious, but I hate the firm, I work 70 hours a week and do not feel compensated for it. I will make $70,000 this year including bonus. I am nothing near a used car salesman. It is very analytical. I am trying to lateral to a blue chip firm

There is limited job stability in finance. I dont want that to be laid off in ten years and sh*t out of luck with a family and mortgage and nothing to fall back on.

So the pay is not horrible for a 23 year old. From working with the big firms at my job including Gibson Dunn, i am much more interested in litigation than transactional work. document review= better them than me. long term i am still really undecided on whether Id stay in investments or law.

If its law, I am more interested in eventually practicing on my own/with my family, and at some point I want to be able to be my own boss maybe have a life.

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Veyron
Posts: 3598
Joined: Fri Jan 08, 2010 3:50 am

Re: UMiami, Irvine, or a Private Equity Firm?

Postby Veyron » Wed Feb 09, 2011 2:51 am

sealoquesea wrote:1. The PE job is prestigious, but I hate the firm, I work 70 hours a week and do not feel compensated for it. I will make $70,000 this year including bonus. I am nothing near a used car salesman. It is very analytical. I am trying to lateral to a blue chip firm

There is limited job stability in finance. I dont want that to be laid off in ten years and sh*t out of luck with a family and mortgage and nothing to fall back on.

So the pay is not horrible for a 23 year old. From working with the big firms at my job including Gibson Dunn, i am much more interested in litigation than transactional work. document review= better them than me. long term i am still really undecided on whether Id stay in investments or law.

If its law, I am more interested in eventually practicing on my own/with my family, and at some point I want to be able to be my own boss maybe have a life.


Yes, law is a field just SWIMMING with job stability.

Although, if you have guaranteed contacts that probably means family firm which means stability.

Danteshek
Posts: 2172
Joined: Wed Dec 10, 2008 4:40 pm

Re: UMiami, Irvine, or a Private Equity Firm?

Postby Danteshek » Wed Feb 09, 2011 3:44 am

I say stick it out for 2-3 more years, and then consider law school.

sealoquesea
Posts: 16
Joined: Sat Aug 07, 2010 4:11 pm

Re: Irvine Now, Michigan in 2012?

Postby sealoquesea » Sat Apr 02, 2011 1:39 pm

bump

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dr123
Posts: 3503
Joined: Tue Jan 04, 2011 2:38 am

Re: Irvine Now, Michigan in 2012?

Postby dr123 » Sat Apr 02, 2011 1:50 pm

Wait have you actually gotten into Michigan? How do you know you'll be accepted?

sealoquesea
Posts: 16
Joined: Sat Aug 07, 2010 4:11 pm

Re: Irvine Now, Michigan in 2012?

Postby sealoquesea » Sat Apr 02, 2011 1:54 pm

was waitlisted than accepted to start in 2012

thegreatk
Posts: 114
Joined: Thu Dec 23, 2010 12:17 am

Re: UMiami, Irvine, or a Private Equity Firm?

Postby thegreatk » Sat Apr 02, 2011 2:04 pm

jck4487 wrote:Have you visited UC Irvine? I would seriously recommend it--no other school I visited could compare to it.


+10000

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LettuceBeefRealTea
Posts: 48
Joined: Sat Mar 26, 2011 12:06 pm

Re: UMiami, Irvine, or a Private Equity Firm?

Postby LettuceBeefRealTea » Sat Apr 02, 2011 2:24 pm

sealoquesea wrote:1. The PE job is prestigious, but I hate the firm, I work 70 hours a week and do not feel compensated for it. I will make $70,000 this year including bonus. I am nothing near a used car salesman. It is very analytical. I am trying to lateral to a blue chip firm

There is limited job stability in finance. I dont want that to be laid off in ten years and sh*t out of luck with a family and mortgage and nothing to fall back on.

So the pay is not horrible for a 23 year old. From working with the big firms at my job including Gibson Dunn, i am much more interested in litigation than transactional work. document review= better them than me. long term i am still really undecided on whether Id stay in investments or law.

If its law, I am more interested in eventually practicing on my own/with my family, and at some point I want to be able to be my own boss maybe have a life.


what? if you're already in the PE game, why would you leave? most people have to wade through the grueling shit of being an IB analyst for 2-3 years before they can transfer to a PE firm IF they get lucky. that is more like 80+ hours a week, though they are generally making a solid $30-70k more than you.

PE is the place to be right now. i mean, you are already a couple years ahead of most of the top people in finance at your age (assuming a 1/2 year out of college). the economy isn't great, but this is when the work gets put in for little cash now but huge payoffs later. it is better to be putting in your grunt work now when the economy is shit than when it is good and miss the real payoff. PE is going to make you a lot less money for less work faster than law. fuck, you shouldn't be worrying about money after 10 years in PE unless you fuck up big time. finance is pretty stable right now. the economy could double dip really hard over the next 2-3 years with the insane QE that the FED has been doing, but it should be really solid in the 5-10+ year time frame. that's when you'll be making most of your money anyways.

if i were you, i would stick it out for another year or two. then i would pick between staying in PE, switching over to a hedge, getting an mba and switching into consulting or blue chip, or going to law school (pretty weak option relatively in my mind).

as for where i am coming from, i interned for 2 ib's and hated it. i don't want to go through the 2 years as an ib analyst, especially when i already have a business that i can live and pay tuition off of debt free. i think law school with an econ/finance background is fucking smart, but you are in a position where law school would hurt/slow you down.

that being said, i think that irvine will be the better choice if you do choose to go to law school. you already have a guaranteed hook up in socal law + irvine is already becoming a socal heavy hitter. you would just be throwing money away for michigan. besides, newport>ann arbor, and you'll be closer to your family, which i am just now starting to recognize as important ( :roll: at myself).

sealoquesea
Posts: 16
Joined: Sat Aug 07, 2010 4:11 pm

Re: UMiami, Irvine, or a Private Equity Firm?

Postby sealoquesea » Sat Apr 02, 2011 6:06 pm

LettuceBeefRealTea wrote:
sealoquesea wrote:1. The PE job is prestigious, but I hate the firm, I work 70 hours a week and do not feel compensated for it. I will make $70,000 this year including bonus. I am nothing near a used car salesman. It is very analytical. I am trying to lateral to a blue chip firm

There is limited job stability in finance. I dont want that to be laid off in ten years and sh*t out of luck with a family and mortgage and nothing to fall back on.

So the pay is not horrible for a 23 year old. From working with the big firms at my job including Gibson Dunn, i am much more interested in litigation than transactional work. document review= better them than me. long term i am still really undecided on whether Id stay in investments or law.

If its law, I am more interested in eventually practicing on my own/with my family, and at some point I want to be able to be my own boss maybe have a life.


what? if you're already in the PE game, why would you leave? most people have to wade through the grueling shit of being an IB analyst for 2-3 years before they can transfer to a PE firm IF they get lucky. that is more like 80+ hours a week, though they are generally making a solid $30-70k more than you.

PE is the place to be right now. i mean, you are already a couple years ahead of most of the top people in finance at your age (assuming a 1/2 year out of college). the economy isn't great, but this is when the work gets put in for little cash now but huge payoffs later. it is better to be putting in your grunt work now when the economy is shit than when it is good and miss the real payoff. PE is going to make you a lot less money for less work faster than law. fuck, you shouldn't be worrying about money after 10 years in PE unless you fuck up big time. finance is pretty stable right now. the economy could double dip really hard over the next 2-3 years with the insane QE that the FED has been doing, but it should be really solid in the 5-10+ year time frame. that's when you'll be making most of your money anyways.

if i were you, i would stick it out for another year or two. then i would pick between staying in PE, switching over to a hedge, getting an mba and switching into consulting or blue chip, or going to law school (pretty weak option relatively in my mind).

as for where i am coming from, i interned for 2 ib's and hated it. i don't want to go through the 2 years as an ib analyst, especially when i already have a business that i can live and pay tuition off of debt free. i think law school with an econ/finance background is fucking smart, but you are in a position where law school would hurt/slow you down.

that being said, i think that irvine will be the better choice if you do choose to go to law school. you already have a guaranteed hook up in socal law + irvine is already becoming a socal heavy hitter. you would just be throwing money away for michigan. besides, newport>ann arbor, and you'll be closer to your family, which i am just now starting to recognize as important ( :roll: at myself).



making more money now when i first posted. i graduated college in 09 so i am two years out. i think ill see how my job search turns out before making any decisions regarding law school

HLS
Posts: 7
Joined: Sat Apr 02, 2011 1:32 am

Re: Irvine Now, Michigan in 2012?

Postby HLS » Sat Apr 02, 2011 6:56 pm

If you want to work and live in so cal, go to Michigan.
If you want to work anywhere else with good job prospective, go to Michigan.

If you want a good LS experience, go to Michigan.

That extra 40k will be covered in the long run. Go to Michigan.

jck4487
Posts: 112
Joined: Tue Nov 09, 2010 3:15 am

Re: Irvine Now, Michigan in 2012?

Postby jck4487 » Sat Apr 02, 2011 11:15 pm

I think it's a deeply personal opinion but, let's be honest, ASD at Irvine was awesome. Everyone on TLS has this "top 14 or kill yourself" mentality, but it's not as hard and fast as all these extremely knowledgable potential law students make it seem. Irvine seems like it's going to be an amazing school. Michigan is probably pretty cool too (too cold for me personally), but what could Michigan offer you in a few years that Irvine can't now? You got the flier about their job placement at Irvine. It speaks for itself.




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