KatyMarie wrote:rickgrimes69 wrote:jbagelboy wrote:$160k pretax only feels like a lot of money for someone that grew up impoverished (relatively speaking).
That's quite possibly the most elitist thing I've seen uttered on this site (seriously). $160k is a shit ton of money and easily puts you in the top 5% of wage earners.
Seriously. What?? Netting 90-100k a year is a hell of a lot of money for the vast majority of the people in the US (not to even LOOK at the global perspective on this).
I agree that you're not going to be happy if you're just chasing after money and hoping that it's enough to fulfill you...but 160k is a hell of a lot of money.
Keep in mind: (1) For many lawyers, it won't be 160k and up for more than a handful of years. (2) Yes, it is $160k, but you should also think about your pay per hour worked; it's probably not as high as you would think, and comes with a lot of debt for a lot of people, as has been mentioned. (3) For many lawyers, the quality of life is not great. 0Ls seem to have a hard time accepting this, but time and time again, practicing lawyers, including people who have worked demanding consulting or other jobs (e.g., Needanexit) have commented that the unique combinations of stress, being on call 24/7, tedium, erratic nature of the job, and often less than ideal managing of junior associates lead to a job that not easy, to say the least. There's plenty of hard evidence of this, namely, as many other posters have mentioned, the sheer number of people who leave biglaw, despite the salary, after just a few years. And these are all people who have worked hard, managed stress, and succeeded throughout their entire lives.
Now no one is saying that there aren't benefits to biglaw, naming the salary, credential, connections, and the exit options, but people are just trying to provide a more complete and accurate picture of biglaw. One that, as many posters have explained, was lacking to some degree from this forum prior to the past few years. Another purpose is to make sure people think about their decision to take on a lot of debt with the goal of obtaining a biglaw position. No one is saying that you should never do this, and in fact many posters here have. It's definitely a way to provide for your family. But it is a big decision, the financial equivalent of buying property, and not one that should be made lightly. I think the point of many of the practicing lawyer's posts are, think carefully about before taking on the debt. Think about what value you think it adds. Think carefully about your goals, what you would be happy with. Then you can make an informed decision on what you should do.