Top Law Schools

Anyone have any idea when market salary will rise?

I have heard some say that it will go to 190,000 in the next rise, but any idea how long till this even maybe happens?

Cavalier wrote:NY to 190!!!!!!1111!!!111shift+1!!!11!!1

That article doesnt sound to confirmed to me!

well I looked at my tarot cards today and I read that in 2012 president Obama will be reelected by a slim margin just barely beating out Mike Huckabee. however, the Tea party will get a lock on both the house and senate so they have a veto proof majorities. well when that happens they are going to slice and dice Medicare and social secure. needless to say, I know that in 2014 there will be general population uprisings with the states calling for the first constitutional convention in many years. unfortunately, that is when China will call our debt and force us into bankruptcy. at that point, NY will be in shambles as wall street collapse.. 2 out of 3 law firms will cut at least half their associates. there will be a general splintering of the the legal market. needless to say, salaries are not going up anytime soon.

gwuorbust wrote:well I looked at my tarot cards today and I read that in 2012 president Obama will be reelected by a slim margin just barely beating out Mike Huckabee. however, the Tea party will get a lock on both the house and senate so they have a veto proof majorities. well when that happens they are going to slice and dice Medicare and social secure. needless to say, I know that in 2014 there will be general population uprisings with the states calling for the first constitutional convention in many years. unfortunately, that is when China will call our debt and force us into bankruptcy. at that point, NY will be in shambles as wall street collapse.. 2 out of 3 law firms will cut at least half their associates. there will be a general splintering of the the legal market. needless to say, salaries are not going up anytime soon.

don't mock the OP. he has 1000+ posts and obviously has a legit question

Julio_El_Chavo wrote:

gwuorbust wrote:well I looked at my tarot cards today and I read that in 2012 president Obama will be reelected by a slim margin just barely beating out Mike Huckabee. however, the Tea party will get a lock on both the house and senate so they have a veto proof majorities. well when that happens they are going to slice and dice Medicare and social secure. needless to say, I know that in 2014 there will be general population uprisings with the states calling for the first constitutional convention in many years. unfortunately, that is when China will call our debt and force us into bankruptcy. at that point, NY will be in shambles as wall street collapse.. 2 out of 3 law firms will cut at least half their associates. there will be a general splintering of the the legal market. needless to say, salaries are not going up anytime soon.

don't mock the OP. he has 1000+ posts and obviously has a legit question

Teehee.

Cavalier wrote:NY to 190!!!!!!1111!!!111shift+1!!!11!!1

Normally I'd give this a "180"...

...but instead I give it a...


190!!!!!!1111!!!111shift+1!!!11!!1

the layoffs and pay cuts will continue until morale improves

AssumptionRequired wrote:Anyone have any idea when market salary will rise?

I have heard some say that it will go to 190,000 in the next rise, but any idea how long till this even maybe happens?

let's not get ahead of ourselves here

bros, these things are very cyclical. 2-3 years, just like after the .com bubble and 9/11. btw, the next bubble is the student loan bubble, which will collapse in about 7-8 years. hth.

dood wrote:bros, these things are very cyclical. 2-3 years, just like after the .com bubble and 9/11. btw, the next bubble is the student loan bubble, which will collapse in about 7-8 years. hth.

Uh, yeah... since almost all student loans are guaranteed by the federal government, lets hope that bubble doesn't pop.

dood wrote:bros, these things are very cyclical. 2-3 years, just like after the .com bubble and 9/11. btw, the next bubble is the student loan bubble, which will collapse in about 7-8 years. hth.

see, I believe that it is a bubble, but I don't think it is going to collapse. how can it? student loans can't be discharged. unlike with stock or home values, the debtor still has to keep paying. I feel like it is the bubble that can't burst.

dood wrote:bros, these things are very cyclical. 2-3 years, just like after the .com bubble and 9/11. btw, the next bubble is the student loan bubble, which will collapse in about 7-8 years. hth.

Can I do something investing-wise to bet against student loans? Actually semi-srs.

rad law wrote:

dood wrote:bros, these things are very cyclical. 2-3 years, just like after the .com bubble and 9/11. btw, the next bubble is the student loan bubble, which will collapse in about 7-8 years. hth.

Can I do something investing-wise to bet against student loans? Actually semi-srs.

i dunno, but in all seriousness, check out secured transactions (the law school class) - at least for me i learned ALOT and very interesting / useful if u going into big law since every financial transaction is basically going to be secured via some sort of Art.9 mechanism. besides commercial paper.

dood wrote:

rad law wrote:

dood wrote:bros, these things are very cyclical. 2-3 years, just like after the .com bubble and 9/11. btw, the next bubble is the student loan bubble, which will collapse in about 7-8 years. hth.

Can I do something investing-wise to bet against student loans? Actually semi-srs.

i dunno, but in all seriousness, check out secured transactions (the law school class) - at least for me i learned ALOT and very interesting / useful if u going into big law since every financial transaction is basically going to be secured via some sort of Art.9 mechanism. besides commercial paper.

Sounds good dood, will do.

rad law wrote:

dood wrote:bros, these things are very cyclical. 2-3 years, just like after the .com bubble and 9/11. btw, the next bubble is the student loan bubble, which will collapse in about 7-8 years. hth.

Can I do something investing-wise to bet against student loans? Actually semi-srs.

You can buy US Treasury default swaps, if anyone even sells such a thing.

dood wrote:

rad law wrote:

dood wrote:bros, these things are very cyclical. 2-3 years, just like after the .com bubble and 9/11. btw, the next bubble is the student loan bubble, which will collapse in about 7-8 years. hth.

Can I do something investing-wise to bet against student loans? Actually semi-srs.

i dunno, but in all seriousness, check out secured transactions (the law school class) - at least for me i learned ALOT and very interesting / useful if u going into big law since every financial transaction is basically going to be secured via some sort of Art.9 mechanism. besides commercial paper.

LOL I've got secured transactions on Monday night. IIRC, student loans are secured by those promissory notes you sign each time you ask for a disbursement (actually, not sure if every time, since your initial promissory note can be used to secure future advances). The note is just a memoralization of a promise to pay, and the funds are guaranteed by the government. The government keeps the notes you've signed, which (I'm guessing) makes them enforceable under Article 9.

So, maybe if you could somehow wrangle those notes back out of the government's possession, the collateral would become unperfected and thus your promise to pay the government unenforceable under Article 9? Maybe you could buy the notes from the government (transaction covered by Article 9). So with those notes, maybe you could bundle them together and sell some of that bundle to another investor at a small premium. With that bundle, the additional investor could categorize individual debtors by their credit-rating, then chop-and-sell the bundle, pricing based upon debtor quality. This process continues...leading to credit default swaps with securities loosely based upon the underlying loan obligations.

Eventually, supply for jobs in the US outstrips demand (in absolute terms, e.g. law school grads can't even get work at a fast-food drive-through), and students start to default. The irrational exuberance of the loan-trading market starts to ebb, as people realize that a law degree is worthless. More debtors default, and the bubble pops.

Bonuses right now are very low. They will probably rise before salaries do.

First year associates were being paid more in real dollars 7-8 years ago than they are now.

RVP11 wrote:Bonuses right now are very low.

LOL. I was bored last night, creeping around on ancient greedyassociates threads. 1st year market bonuses were ~30K, with 2nd and 3rd years at 5K increments. Since industry so often forgets about the past, here's to hoping that, for us 2012'ers, the economy doesn't double-dip again before we shackle ourselves to our desks in late-2012.

gwuorbust wrote:

dood wrote:bros, these things are very cyclical. 2-3 years, just like after the .com bubble and 9/11. btw, the next bubble is the student loan bubble, which will collapse in about 7-8 years. hth.

see, I believe that it is a bubble, but I don't think it is going to collapse. how can it? student loans can't be discharged. unlike with stock or home values, the debtor still has to keep paying. I feel like it is the bubble that can't burst.

*stops paying like a boss

You can always stop paying and force them to try wage garnishment and other such tactics. Now, if degrees were linked to earning power, this wouldn't be a problem since they could always garnish the wages that you earn at your job that affords a living wage, but I'm not sure they'll do so well trying to recover six figures from the modified Anthro Lit with a focus in Native American furniture.

http://www.ed.gov/news/press-releases/s ... increase-0

http://washingtonexaminer.com/local/dc/ ... er-profits

Kohinoor wrote:

gwuorbust wrote:

dood wrote:bros, these things are very cyclical. 2-3 years, just like after the .com bubble and 9/11. btw, the next bubble is the student loan bubble, which will collapse in about 7-8 years. hth.

see, I believe that it is a bubble, but I don't think it is going to collapse. how can it? student loans can't be discharged. unlike with stock or home values, the debtor still has to keep paying. I feel like it is the bubble that can't burst.

*stops paying like a boss

You can always stop paying and force them to try wage garnishment and other such tactics. Now, if degrees were linked to earning power, this wouldn't be a problem since they could always garnish the wages that you earn at your job that affords a living wage, but I'm not sure they'll do so well trying to recover six figures from the modified Anthro Lit with a focus in Native American furniture.

http://www.ed.gov/news/press-releases/s ... increase-0

http://washingtonexaminer.com/local/dc/ ... er-profits

Yes, but even if every single person in America did this, the debt is guaranteed (or loaned directly) by the government. So, unless you think it would bankrupt an institution that can literally print money, the bubble can't burst.

Renzo wrote:

Kohinoor wrote:

gwuorbust wrote:

dood wrote:bros, these things are very cyclical. 2-3 years, just like after the .com bubble and 9/11. btw, the next bubble is the student loan bubble, which will collapse in about 7-8 years. hth.

see, I believe that it is a bubble, but I don't think it is going to collapse. how can it? student loans can't be discharged. unlike with stock or home values, the debtor still has to keep paying. I feel like it is the bubble that can't burst.

*stops paying like a boss

You can always stop paying and force them to try wage garnishment and other such tactics. Now, if degrees were linked to earning power, this wouldn't be a problem since they could always garnish the wages that you earn at your job that affords a living wage, but I'm not sure they'll do so well trying to recover six figures from the modified Anthro Lit with a focus in Native American furniture.

Yes, but even if every single person in America did this, the debt is guaranteed (or loaned directly) by the government. So, unless you think it would bankrupt an institution that can literally print money, the bubble can't burst.

It's less of a student loan bubble and more of a tuition bubble. If the federal government let the market determine interest rates and also didn't guarantee the loans (and I am by no means saying that they should do either of those things), then tuition would drop almost immediately because demand would fall of a cliff. No one would be able to afford to go to school at current tuition rates if the interest rates on student loans truly reflected their risk.

Renzo wrote:

Kohinoor wrote:

gwuorbust wrote:

dood wrote:bros, these things are very cyclical. 2-3 years, just like after the .com bubble and 9/11. btw, the next bubble is the student loan bubble, which will collapse in about 7-8 years. hth.

see, I believe that it is a bubble, but I don't think it is going to collapse. how can it? student loans can't be discharged. unlike with stock or home values, the debtor still has to keep paying. I feel like it is the bubble that can't burst.

*stops paying like a boss

You can always stop paying and force them to try wage garnishment and other such tactics. Now, if degrees were linked to earning power, this wouldn't be a problem since they could always garnish the wages that you earn at your job that affords a living wage, but I'm not sure they'll do so well trying to recover six figures from the modified Anthro Lit with a focus in Native American furniture.

http://www.ed.gov/news/press-releases/s ... increase-0

http://washingtonexaminer.com/local/dc/ ... er-profits

Yes, but even if every single person in America did this, the debt is guaranteed (or loaned directly) by the government. So, unless you think it would bankrupt an institution that can literally print money, the bubble can't burst.

But guaranteed and loaned directly would work very differently, no? If they're guaranteed, then any shortfalls are repaid and so asset-backed securities based on those loans don't experience a shortfall. If they're direct loaned, why would we assume that the government would print money to remedy the shortfall to itself?