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Posted: Sat Sep 29, 2012 2:41 pm
by Man from Nantucket
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Re: Serious Question

Posted: Sat Sep 29, 2012 2:50 pm
by Grond
Man from Nantucket wrote:How is LS even with Big Law worth it?

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Seriously? Is this a joke? How are these school administrators not in jail?
If you really are the Man from Nantucket you should contact Para about a different career choice.

Re: Serious Question

Posted: Sat Sep 29, 2012 2:59 pm
by dingbat
Man from Nantucket wrote:How is LS even with Big Law worth it?

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Seriously? Is this a joke? How are these school administrators not in jail?
Well, if your earnings goes from $50k per year to $160k per year, that's a jump of $110k per year. Now if we ignore interest, let's assume cost is $275k, add in another $150k for lost income, then we're at $425k. So, within 4 years of working (4*$110k) you're breaking even.
Of course, factoring interest into account, it'll take longer, but then, lockstep salaries increase every year at biglaw. Practically speaking, the breakeven point will be around 6-10 years, depending on interest rates, bonuses, etc.
So, for those who get (and keep) biglaw, it's absolutely worth it. Of course, for those who strike out, well, that's a different story