If you graduated without debt, would you still do BigLaw? Forum

Chicago60657 · Post by **Chicago60657** » Wed Sep 23, 2015 9:46 pm

Discuss.

Anonymous User · Post by **Anonymous User** » Wed Sep 23, 2015 9:48 pm

Graduating without debt. Still doing Biglaw. just saving up that sweet sweet ca$h for when I really need it (eventual public interest job). If you're at a school where it's relatively easy to get a Biglaw job (established practices, decently large OCI), I don't see why not. maybe this is a stronger case for just doing a summer and then getting out?

zot1 · Post by **zot1** » Wed Sep 23, 2015 9:51 pm

Graduated with debt and still happy not doing BigLaw.

Anonymous User · Post by **Anonymous User** » Wed Sep 23, 2015 9:51 pm

No debt, basically doing PI with a high burnout rate knowing I don't have to worry about it as a result.

Anonymous User · Post by **Anonymous User** » Wed Sep 23, 2015 9:58 pm

Im graduating without debt, but i still got that sweet big law lined up. Figure ill save up like 200k to make up for all my lost income during law school and then exit out to some chill corporate gig

Monochromatic Oeuvre · Post by **Monochromatic Oeuvre** » Wed Sep 23, 2015 10:02 pm

Am graduating without debt, and still terrified enough of having no savings that I'll probably hang onto the Biglaw train until they kick me off.

Anonymous User · Post by **Anonymous User** » Wed Sep 23, 2015 10:06 pm

Yea, and personally probably invest most of the money I would be using to pay loans back. You don't have the debt obligation hanging over your head all the time as a reason why you have to stay, despite wanting to jump off the roof, so you can pursue other options whenever you want to really. You could do 2-3 years, get the experience/exit-ops & dip out with a F ton more money in your pocket. Plus, your older you may want to hit the younger you for passing up on a chance make $160k ($190k?) in your late 20's, unless of course you can find a similarly paying job elsewhere. Or maybe your older you will want to hit the younger you for going to law school generally, idk.

Mack.Hambleton · Post by **Mack.Hambleton** » Wed Sep 23, 2015 10:09 pm

Still best exit opps outside of very few things from what I can tell

Elston Gunn · Post by **Elston Gunn** » Wed Sep 23, 2015 10:21 pm

PI is more attractive if you have a shitload of debt, not the other way around. Or at least it is to me.

The money difference between Biglaw and PI/Gov declines as your loan balance grows.

Anonymous User · Post by **Anonymous User** » Wed Sep 23, 2015 10:27 pm

Elston Gunn wrote:PI is more attractive if you have a shitload of debt, not the other way around. Or at least it is to me.

The money difference between Biglaw and PI/Gov declines as your loan balance grows.

Can you elaborate on why? Genuinely interested because I do have a shitload of debt and am pursuing PI/Gov

hairbear7 · Post by **hairbear7** » Wed Sep 23, 2015 10:39 pm

Anonymous User wrote:
Elston Gunn wrote:PI is more attractive if you have a shitload of debt, not the other way around. Or at least it is to me.

The money difference between Biglaw and PI/Gov declines as your loan balance grows.
Can you elaborate on why? Genuinely interested because I do have a shitload of debt and am pursuing PI/Gov

PSLF

Anonymous User · Post by **Anonymous User** » Wed Sep 23, 2015 10:52 pm

yeah i'm genuinely confused about why people who have a ton of debt but want to do public interest go to biglaw to "pay off their debt".

its annoying when people act like you must be rich if you're going into public interest-- I wouldn't have any money for at least 6-8 years with big law, and if i switched to PI at that point, i'd still be making no money, so why not just start out with what you want to do?

Germaine · Post by **Germaine** » Wed Sep 23, 2015 11:00 pm

No debt, on biglaw track. To me, the lack of debt makes biglaw much more tolerable because I won't feel as trapped, and I don't do well when I feel trapped.

BizBro · Post by **BizBro** » Wed Sep 23, 2015 11:05 pm

I came to law school for the models and bottles, and I intend to keep it that way

Johann · Post by **Johann** » Wed Sep 23, 2015 11:13 pm

hairbear7 wrote:
Anonymous User wrote:
Elston Gunn wrote:PI is more attractive if you have a shitload of debt, not the other way around. Or at least it is to me.

The money difference between Biglaw and PI/Gov declines as your loan balance grows.
Can you elaborate on why? Genuinely interested because I do have a shitload of debt and am pursuing PI/Gov

PSLF

this is the right answer. no debt means playing with house money. you can coast for a year easy.

dixiecupdrinking · Post by **dixiecupdrinking** » Wed Sep 23, 2015 11:15 pm

Anonymous User wrote:yeah i'm genuinely confused about why people who have a ton of debt but want to do public interest go to biglaw to "pay off their debt".

its annoying when people act like you must be rich if you're going into public interest-- I wouldn't have any money for at least 6-8 years with big law, and if i switched to PI at that point, i'd still be making no money, so why not just start out with what you want to do?

Risk aversion, mainly. 10 years is a long time to commit to a career track, and if you bail on PSLF after 5 or 6 years you could be way worse off than if you'd just gone to biglaw and paid it off. But I agree, otherwise the numbers certainly favor doing PSLF from day one.

As to the OP: unless you're passionate about something else, sure, do biglaw for a few years. If you're smart about it can build up a legitimate nest egg and it will open up opportunities that most people don't have coming out of school. But if you have another specific, well-defined career interest... then chase like hell after it.

lavarman84 · Post by **lavarman84** » Wed Sep 23, 2015 11:24 pm

Will have no debt. Still doing biglaw. If I don't like it, I'll do something else.

Anonymous User · Post by **Anonymous User** » Wed Sep 23, 2015 11:33 pm

I will be graduating with very little debt, but still doing BigLaw. My plan is to save up aggressively and retire early after ~ 10 years of work.

A. Nony Mouse · Post by **A. Nony Mouse** » Wed Sep 23, 2015 11:41 pm

Anonymous User wrote:I will be graduating with very little debt, but still doing BigLaw. My plan is to save up aggressively and retire early after ~ 10 years of work.

How old are you now?

Anonymous User · Post by **Anonymous User** » Wed Sep 23, 2015 11:43 pm

^^ 33, but my husband is older, and I want time to be lazy and travel while we can still enjoy it.

Anastasia Dee Dualla · Post by **Anastasia Dee Dualla** » Wed Sep 23, 2015 11:59 pm

TatteredDignity · Post by **TatteredDignity** » Thu Sep 24, 2015 12:05 am

Anonymous User wrote:I will be graduating with very little debt, but still doing BigLaw. My plan is to save up aggressively and retire early after ~ 10 years of work.

You sound like a Mustachian.

banjo · Post by **banjo** » Thu Sep 24, 2015 12:49 am

Yeah, probably. Not sure where else I'd go for good training in transactional work. I considered a midlaw firm, but they had spotty offer rates, lower pay, and I wasn't sure how much work they had.

If I were interested in litigation, I'd probably try to clerk and bypass biglaw altogether.

Anonymous User · Post by **Anonymous User** » Thu Sep 24, 2015 12:51 am

What's an average PI salary?

Anonymous User · Post by **Anonymous User** » Thu Sep 24, 2015 2:04 am

T14 Full Ride, came in with $25K Savings. Burned through most of it on COL 1L. Got 1L Summer Associate which is covering 2L COL expenses. Got 2L Summer Associate to hopefully cover all 3L COL expenses. Goal is to do biglaw for the money and save up for a house/investments. Plan on following the money best I can for now and see where that takes me.

If I can snag an offer from my Summer firm, then to make $160K in my 20s is a pretty amazing opportunity. Very happy I went to law school. Would have still gone if had to take out debt because job prospects were pretty lousy (was making $40K with a BS undergrad major). However, would have made me feel much grimmer about my future if I knew I'd be on the hook for a 6 figure loan bill.

If you graduated without debt, would you still do BigLaw? Forum

If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Register now to search topics and post comments!

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Register for access!

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Resources to assist law school applicants, students & graduates.

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Register now!

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Register now, it's still FREE!

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Re: If you graduated without debt, would you still do BigLaw?

Seriously? What are you waiting for?