TTTooKewl wrote:
Dude is a troll or otherwise clueless. Range of salaries of a junior partner varies from 500k to 10M??? OH MAN! CRAZY! Where on earth did you get those numbers? If you aren't a troll, I hate to break it to you, but no junior partner is making 10M. And the above poster is correct. Most in finance don't make that much money early in their career, unless they are on the sell side, in which case they are working worse hours than biglaw with worse job security. And OH MAN YOUR WIFE'S PARENTS MAKE SIX FIGURES IN INVESTMENTS? Holy shit -- in 2013, that means their net investment worth was like $300k!!!! Dudes are rich!
In any event, comparing an established family's investment income to an early-career finance / biglaw individual is just silly. The end-point of big law and [stable] finance isn't to make BIG BUCKS NOW LETS RETIRE AND LIVE ON INVESTMENTS. It's to build a career. That takes ambition. That takes hard work and sacrifice (including time with kids, your spouse, your health). It's not easy. But success is there to be had. Surprise: top 1% success isn't easy, no matter how smart you are.
Disclaimer: if your goal isn't money, and you want to do whatever you want to do, and spend more time with your family -- more power to you. I respect it. But the notion that biglaw is a golden ticket and that those who land there out of law school are entitled to some grand career is unhealthy.
Apparently you can't read either. The range of
partner salaries (from junior to rainmaker) is like 500k to 10mm at some NYC firms. NOT JUST JUNIOR
partner salaries.
If their investment income is 300k, and assuming a 3% rate of return, they have like over 10 million invested....so yeah that's a lot more FUCK YOU money than biglawyers (except partners) will ever have. If you aren't partner, you will never save 10 million in your ENTIRE LIFE working as a piece of shit lawyer. Just LOL - YOU CANT EVEN SAVE 10 FUCKING MILLION DOLLARS WORKING AS A LAWYER. And you will be working harder than them because they retired at age fucking 50 (while you are working until 80 because YOU HAVE ONLY ONE LITTLE MILLION SAVED UP) and they have like 10 MOTHERFUCKING PROPERTIES living it up IN ADDITION 10 million cash in the bank. Oh not to mention, they NEVER worked 80 hour weeks in their entire fucking life. And you know why? Because they aren't lawyers.
And considering most biglawyers make like the same or less money in 20 years, it's pretty easy to compare "established family investment income" with lawyer income. This salary isn't improving post biglaw...because it only goes downhill.
So yes, you work harder in law, you have less upside, and you have NO CHANCE at saving fuck you money because you aren't making partner at any biglaw firm. You might save a measly 2 peanut millions over the course of your ENTIRE life - that isn't even enough to retire on.