Big law like med school residency? Forum

[umichman]

is it dumb to think of big law 4 years as being similar to when a dr does a residency. Both work stupid hours and have steep learning curve. Also have high pressure in both. And high prestige give u better options afterwards

Difference is big law makes a ton of money and residence doesn't.
Am I missing something?

[BruceWayne]

Yes. You're not guaranteed a lifetime six figure plus career salary and essentially lifelong job security after you complete your time in biglaw.

[Anonymous User]

yes. great analogy.

[DJ JD]

It's backwards because most exit options from big law will ultimately pay you less than what you were making previously (nonwithstanding lucrative in-house bonus packages or parters exiting to GC/CLO positions), whereas you will ultimately make much much more money once you complete your residency.

[umichman]

It's backwards because most exit options from big law will ultimately pay you less than what you were making previously (nonwithstanding lucrative in-house bonus packages or parters exiting to GC/CLO positions), whereas you will ultimately make much much more money once you complete your residency.

Fair point.

[los blancos]

Yes. You're not guaranteed a lifetime six figure plus career salary and essentially lifelong job security after you complete your time in biglaw.

[umichman]

Yes. You're not guaranteed a lifetime six figure plus career salary and essentially lifelong job security after you complete your time in biglaw.

The six figure salary I believe. But it's hard to believe there Re so many completely unemployed former associates from v10 or v25 firms. But I guess I have no basis for believing that except that I want it to be trje

[KidStuddi]

I think the better comparison would be to say being a law firm associate anywhere is similar to medical residency. BigLaw is where "up or out" is most obvious, because lockstep salaries make it very clear there is a ladder being climbed, but there really aren't that many law firms anywhere that hire "associates" as a lifetime gig. You either advance or you leave. I'm not saying you'll necessarily come off salary and become an equity partner, but rarely are you going be called an associate and have the commiserate lack of independent decision-making authority for your entire career. It's basically an apprenticeship and, like in many other fields, it's generally not something you can or would want to do indefinitely.

[chuckbass]

Yes. You're not guaranteed a lifetime six figure plus career salary and essentially lifelong job security after you complete your time in biglaw.

The six figure salary I believe. But it's hard to believe there Re so many completely unemployed former associates from v10 or v25 firms. But I guess I have no basis for believing that except that I want it to be trje

Once you get past the V17 your options are bleak.

[nealric]

Yes. You're not guaranteed a lifetime six figure plus career salary and essentially lifelong job security after you complete your time in biglaw.

The six figure salary I believe. But it's hard to believe there Re so many completely unemployed former associates from v10 or v25 firms. But I guess I have no basis for believing that except that I want it to be trje

Once you get past the V17 your options are bleak.

Completely untrue (lower v100 alum). Most of my starting classmates have left my firm by now (5 years in), but all that I have kept up with landed in pretty decent gigs.

[chuckbass]

Yes. You're not guaranteed a lifetime six figure plus career salary and essentially lifelong job security after you complete your time in biglaw.

The six figure salary I believe. But it's hard to believe there Re so many completely unemployed former associates from v10 or v25 firms. But I guess I have no basis for believing that except that I want it to be trje

Once you get past the V17 your options are bleak.

Completely untrue (lower v100 alum). Most of my starting classmates have left my firm by now (5 years in), but all that I have kept up with landed in pretty decent gigs.

Hi hello this is sarcasm (since the above poster singled V10 or V25 firms)

[nealric]

My sarcasm detector is poorly calibrated when it comes to the internet.

[BruceWayne]

Yes. You're not guaranteed a lifetime six figure plus career salary and essentially lifelong job security after you complete your time in biglaw.

The six figure salary I believe. But it's hard to believe there Re so many completely unemployed former associates from v10 or v25 firms. But I guess I have no basis for believing that except that I want it to be trje

I'm not saying that you will definitely end up unemployed at some point after working biglaw. But I am saying that you do not have anywhere near the level of job security as an M.D. An M.D. is essentially guaranteed a six figure paying job for life. A former biglaw associate has nowhere near that kind of pay/job security. Honestly, I know of former biglaw attorneys who don't even make 100K--and that isn't really an outlandish/very rare outcome.

[bearsfan23]

Med School residents make around $55k a year and therefore can't pay off their loans.

They also work more hours than almost all Biglaw associates (80-100 hours a week, every week).

So, no, they're not really alike. But this board is filled with unhappy K-JD lawyers who know nothing about any other field, so this analogy isn't a surprise.

Also, where the hell do people get the idea an MD is guaranteed bank for life. You literally have no clue

[bearsfan23]

Yes. You're not guaranteed a lifetime six figure plus career salary and essentially lifelong job security after you complete your time in biglaw.

The six figure salary I believe. But it's hard to believe there Re so many completely unemployed former associates from v10 or v25 firms. But I guess I have no basis for believing that except that I want it to be trje

I'm not saying that you will definitely end up unemployed at some point after working biglaw. But I am saying that you do not have anywhere near the level of job security as an M.D. An M.D. is essentially guaranteed a six figure paying job for life. A former biglaw associate has nowhere near that kind of pay/job security. Honestly, I know of former biglaw attorneys who don't even make 100K--and that isn't really an outlandish/very rare outcome.

This is so dumb. Even if it were true, the vast majority of MD's make less than $200k a year, and have loans in excess of $500k.

There's a reason doctors rank as more unhappy than even lawyers.

Nice try though dude

[DrRighteous]

Guys, you are doing social comparison wrong. Always compare down.

[Cogburn87]

The six figure salary I believe. But it's hard to believe there Re so many completely unemployed former associates from v10 or v25 firms. But I guess I have no basis for believing that except that I want it to be trje

It's not so much unemployment as it's forced into a job doing the same shit for a fraction of the pay.

Also you have to factor in the number who simply leave the profession altogether. I have no idea how many people abandon medicine after their residency is over, but I very much doubt it's anywhere near the ~1/4 of people who left law upon exiting the biglaw firm i was at.

[Hikikomorist]

Yes. You're not guaranteed a lifetime six figure plus career salary and essentially lifelong job security after you complete your time in biglaw.

The six figure salary I believe. But it's hard to believe there Re so many completely unemployed former associates from v10 or v25 firms. But I guess I have no basis for believing that except that I want it to be trje

I'm not saying that you will definitely end up unemployed at some point after working biglaw. But I am saying that you do not have anywhere near the level of job security as an M.D. An M.D. is essentially guaranteed a six figure paying job for life. A former biglaw associate has nowhere near that kind of pay/job security. Honestly, I know of former biglaw attorneys who don't even make 100K--and that isn't really an outlandish/very rare outcome.

This is so dumb. Even if it were true, the vast majority of MD's make less than $200k a year, and have loans in excess of $500k.

There's a reason doctors rank as more unhappy than even lawyers.

Nice try though dude

This claim seems incredible. Can you cite a source?

[kray]

Guys, you are doing social comparison wrong. Always compare down.

[krads153]

Yes. You're not guaranteed a lifetime six figure plus career salary and essentially lifelong job security after you complete your time in biglaw.

The six figure salary I believe. But it's hard to believe there Re so many completely unemployed former associates from v10 or v25 firms. But I guess I have no basis for believing that except that I want it to be trje

I'm not saying that you will definitely end up unemployed at some point after working biglaw. But I am saying that you do not have anywhere near the level of job security as an M.D. An M.D. is essentially guaranteed a six figure paying job for life. A former biglaw associate has nowhere near that kind of pay/job security. Honestly, I know of former biglaw attorneys who don't even make 100K--and that isn't really an outlandish/very rare outcome.

This is so dumb. Even if it were true, the vast majority of MD's make less than $200k a year, and have loans in excess of $500k.

There's a reason doctors rank as more unhappy than even lawyers.

Nice try though dude

This claim seems incredible. Can you cite a source?

I think if you're taking out full loans these days, that's a reasonable estimate. 4 years of loans plus 4 years of tons of interest accruing. Maybe more like 400k.

The average doctor is making around 200k a year (just google it) since the average doctor is a family med practitioner. Something like 70%+ of residencies are family med/crappier positions.

In summary? both law and medicine are terrible, on average, financial decisions these days.

[los blancos]

A key difference between primary care docs and lawyers that make anywhere near what they make is (a) essentially limitless geographical flexibility; (b) the ability to get off the treadmill and get back on; and (c) they probably work ~half the hours that any lawyer making $150k+ does.

(don't get me wrong, medicine sucks too in a lot of ways)

[seespotrun]

Bearsfan is a source of authority. Hes very close with all of the doctors that have had to stitch up the base of his dick after he's cut it with a razor blade. (This is seriously what Bears fan is into--cutting his genitals with razor blades).

[BruceWayne]

Med School residents make around $55k a year and therefore can't pay off their loans.

They also work more hours than almost all Biglaw associates (80-100 hours a week, every week).

So, no, they're not really alike. But this board is filled with unhappy K-JD lawyers who know nothing about any other field, so this analogy isn't a surprise.

Also, where the hell do people get the idea an MD is guaranteed bank for life. You literally have no clue

Wow you really don't know what you're talking about at all.

No one is saying that there aren't downsides to being a doctor (that's a serious strawman). But you're a fool if you think that finances are among them. I know what you're saying is wrong just from talking to relatives who are the exact type of doctor that you consider to be at the bottom of the totem pole (and they are in a sense, but even they still are far better off financially than most people who make it into biglaw). Not to mention the absurd difference in job security.

I also think you have a seriously flawed understanding of what happens to many people post biglaw. Yes if you end up being in house counsel at Coke or GE it works out pretty damn well. But that's NOT what happens to a very large percentage of people.

[abogadesq]

Med School residents make around $55k a year and therefore can't pay off their loans.

They also work more hours than almost all Biglaw associates (80-100 hours a week, every week).

So, no, they're not really alike. But this board is filled with unhappy K-JD lawyers who know nothing about any other field, so this analogy isn't a surprise.

Also, where the hell do people get the idea an MD is guaranteed bank for life. You literally have no clue

This. Residency is more like taking a 1-2 year commitment right out of law school at a DA or PD office where you're working 60 hours a week and making shit pay. Like in a residency, you get trained and after your commitment you move on to better paying things.

...Only residencies are worse. I think 80 hours a week is the norm. And you start with the night shift and are on call.

[Internetdan]

I don't know if this is on topic but my family doctor who I went to since I was in kindergarten told me he was surprised I went to law school and he thought I was going to be a stoner piece of shit for the rest of my life.

I told him his son at my same uni's medical school told everyone at a post grad mixer party he was only becoming a doctor so he could write drug prescriptions for himself and supply stripers, and now the doctor won't see me anymore.

Can any MDs help diagnose this lump on my penis if I post a link to pictures. Thanks in advance.