PeanutsNJam wrote:whysoseriousbiglaw wrote:Also, considering a lot of biglaw attorneys live in places like NYC, DC, etc., the money really isn't that great. Making 160k in NYC is like making 60k in flyover....except you have to work a lot more in NYC.
I don't get people who think biglaw pays a lot in places like NYC/DC, unless they grew up in a trailer park or something.
I have a question about this, since I see it posted a lot. Is this actually accurate? Trying to decide where I want to go after graduation, so this matters to me. The last number is a very rough estimate of insurance, bills, car maintenance, gas, phone, netflix, spotify, etc.
Stl:
Salary 125k
- 10k retirement contribution
- 34.7k state and federal income taxes
- 15.6k rent
- 12k
= 52.7k
Stl:
Salary 60k
- 10k retirement contribution
- 10.4k state and federal income taxes
- 10k rent
- 8k
= 21.6k
NYC:
Salary 160k
- 10k retirement contribution
- 47.4k state and federal income taxes
- 40k rent
- 10k (no car insurance, gas, or maintenance costs)
= 52.6k
I don't know what the bonus figures look like, but I'm pretty sure NYC bonuses are larger than Stl bonuses.
I'm gonna assume a 30k/year apartment is about the same as a 10k/year apartment in st louis. Pretty sure you can still grocery shop and cook for yourself right at around the same price right? Are vegetables and meats and shit literally double price in NYC? Plus don't firms pay for Seamless if you stay late? I just don't see how ~52.6k take home is as de minimus as people make it seem, but I haven't lived in NYC. Raises in NYC I heard are in larger increments than other areas as well. If it's that expensive to buy a TV in NYC, why not just order off Amazon?
I'm not trying to say that biglaw is great and dandy or whatever, but I'm curious where this "lol ur still poor with 160k in nyc" is coming from? Are there costs I'm just not accounting for?