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[Anonymous User]

nyc to 190k!

Does anyone realistically think this will happen in the near future, say next 2-4 years? (Not necessarily 190k, but an upward change in the lockstep scale). It seems beyond overdue, especially given the huge rise in PPP among elite firms.

[kjartan]

also unless you live at home or get living expenses paid you're gonna end up with a fat tab anyway

and let's be real they'd rather you went to HLS

This is debt-crushingly true.

[Desert Fox]

nyc to 190k!

Does anyone realistically think this will happen in the near future, say next 2-4 years? (Not necessarily 190k, but an upward change in the lockstep scale). It seems beyond overdue, especially given the huge rise in PPP among elite firms.

It is no longer a total fantasy, but I don't think it'll happen. We might see bonuses start to right though.

[mvp99]

also unless you live at home or get living expenses paid you're gonna end up with a fat tab anyway

and let's be real they'd rather you went to HLS

Yes. And down the road the HLS guy will be picked before you for that GC job you always wanted.

[patogordo]

they'll probably just add another tier of bonuses for high billers

[Desert Fox]

It's also impossible for everyone to take a huge scholarship. The amount schools throw at "great admits" is grossly out of proportion to their value. The disconnect is caused by the ability of the schools to rape the rest of the student population by charging them obscene amounts of tuition, financed by government debt.

A 3.85/173 isn't worth 150k more than a 3.6/169.

[patogordo]

what's the law schools actual cost on a full ride (tuition + fees) though. can't be that high.

[Desert Fox]

what's the law schools actual cost on a full ride (tuition + fees) though. can't be that high.

Then neither is the cost of a person without scholarship.

[Anonymous User]

what's the law schools actual cost on a full ride (tuition + fees) though. can't be that high.

Mine will run about $80k total. ($27k-ish/year for living expenses).

[FKASunny]

what's the law schools actual cost on a full ride (tuition + fees) though. can't be that high.

Mine will run about $80k total. ($27k-ish/year for living expenses).

That's not what he was talking about. But congrats and thanks for sharing?

[hiima3L]

Oh you poor underpaid 1-3 year associates. Your wealth of knowledge and experience certainly justifies more $.

(Yes I mad and poor.)

How about the fact that they demand we have an expensive, prestigious law degree to work here.

I'm the first one to agree that this profession and its ludicrous barrier to entry, i.e., law school, are ludicrous.

But, frankly, I have 0 sympathy for new big lawl associates who complain about not getting a bonus after making $160k.

[Anonymous User]

what's the law schools actual cost on a full ride (tuition + fees) though. can't be that high.

I went to a T2 for free in an expensive big city. I couch surfed at a friend's 1L summer and lived with my parents 2L summer. My 3L rent was a joke thanks to luckily stumbling into a rent-controlled apartment. I lived pretty damn frugally all 3 years--lots of shit food, no vacations, no nice clothes (except a couple of suits), and no big purchases except a new laptop when mine went swimming. I had to loan my idiot brother $5k, which was part of the reason I took a job in my hometown my 2L summer. No bar study loans.

I ended up $56k in debt. It would have been less but I maxed the amount my 3L year when I started it without a job lined up. Got a job in October of 3L year so I went totally nuts 3L and ate take out every now and then and bought a $300 guitar. I probably could have left with under $50k had it not been for loaning money and breaking my laptop. But I'm not exaggerating how frugal I was. I lived by campus all 3 years so I went home/brought lunch almost every single day.

[FKASunny]

Seriously guys?

He meant what's the cost to the law school of giving someone a full ride, he wasn't soliciting a bunch of anecdotes on living expenses at T2s.

[DELG]

Oh you poor underpaid 1-3 year associates. Your wealth of knowledge and experience certainly justifies more $.

(Yes I mad and poor.)

How about the fact that they demand we have an expensive, prestigious law degree to work here.

I'm the first one to agree that this profession and its ludicrous barrier to entry, i.e., law school, are ludicrous.

But, frankly, I have 0 sympathy for new big lawl associates who complain about not getting a bonus after making $160k.

TBF no one wants sympathy we just want a better comp package. If comp was awarded according to how sympathetic the person was there would be no homeless war vets.

[kjartan]

Oh you poor underpaid 1-3 year associates. Your wealth of knowledge and experience certainly justifies more $.

(Yes I mad and poor.)

How about the fact that they demand we have an expensive, prestigious law degree to work here.

I'm the first one to agree that this profession and its ludicrous barrier to entry, i.e., law school, are ludicrous.

But, frankly, I have 0 sympathy for new big lawl associates who complain about not getting a bonus after making $160k.

LOL at this 160k flame. Sure, you're nominally making 160k, but factor in opportunity cost and debt repayment.

[DELG]

also unless you live at home or get living expenses paid you're gonna end up with a fat tab anyway

and let's be real they'd rather you went to HLS

Yes. And down the road the HLS guy will be picked before you for that GC job you always wanted.

Weird taking shit personally schtick. Have you ever gotten screened for BPD?

[2014]

I'll be interested to see what happens this year if/when bonuses stay flat.

[DELG]

also unless you live at home or get living expenses paid you're gonna end up with a fat tab anyway

and let's be real they'd rather you went to HLS

Yes. And down the road the HLS guy will be picked before you for that GC job you always wanted.

Weird taking shit personally schtick. Have you ever gotten screened for BPD?

Also, this is like, such a grim, blindered idea of what you imagine my end game must be. It's like being a senior associate: only law students think practitioners actually hope to be there.

[JusticeJackson]

.

[Anonymous User]

Know for a fact that my v100 will up bonus game this year, but no one will follow us.

[XxSpyKEx]

nyc to 190k!

Does anyone realistically think this will happen in the near future, say next 2-4 years? (Not necessarily 190k, but an upward change in the lockstep scale). It seems beyond overdue, especially given the huge rise in PPP among elite firms.

Why increase salaries when the supply of top law school grads vastly outstrips demand each year? Honestly, firms in major cities could decrease salaries to $120k, and supply would still vastly outnumber demand (assuming all the big firms colluded and dropped salaries at the same time). As a practical matter, where else are you going to find an employer to pay you that much money with no experience whatsoever and nothing going for you but a degree from a t14? The only reason salaries got to $160k /year for first-year associates was because the tech-boom, where the firms were basically fighting tooth and nail for top law school grads (and basically anyone with a t14 degree and a pulse could easily get a biglaw job). Some firms tried to drop salaries after the financial crisis, but most firms didn't follow suit (probably because it reflects poorly on the firm), so biglaw salaries managed to remain at $160k /year for first-year associates. I think at this point firms are probably just waiting for inflation to do its thing where it better balances out the salaries with the supply of recent law school grads.

[sideroxylon]

Know for a fact that my v100 will up bonus game this year, but no one will follow us.

i'm glad you have a working knowledge of 100 law firms

(but earnestly hope you get your increased bonus!)

[5ky]

Know for a fact that my v100 will up bonus game this year, but no one will follow us.

(Cahill)

[5ky]

Know for a fact that my v100 will up bonus game this year, but no one will follow us.

i'm glad you have a working knowledge of 100 law firms

(but earnestly hope you get your increased bonus!)

They can bc Cahill has given above market bonuses + supplemental bonuses for years now, and nobody follows.

[sideroxylon]

Know for a fact that my v100 will up bonus game this year, but no one will follow us.

i'm glad you have a working knowledge of 100 law firms

(but earnestly hope you get your increased bonus!)

They can bc Cahill has given above market bonuses + supplemental bonuses for years now, and nobody follows.

I took it to mean up it even more, but yeah Cahill could continue to pay its special bonuses or whatever.

Would really like to see the return of the KIRKLAND SHATTERS meme.