What happens when you self-medicate Forum

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.
dabigchina

Gold
Posts: 1845
Joined: Mon Jan 13, 2014 2:22 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by dabigchina » Tue Nov 17, 2020 7:01 pm

Neff wrote:
Tue Nov 17, 2020 3:08 pm
My how TLS has regressed -- taken over by the most autistic, awkward kids in your law school.
It was always full of awkward kids, but they at least gave solid takes.

ghostoftraynor

Bronze
Posts: 305
Joined: Mon Jan 20, 2014 9:43 pm

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by ghostoftraynor » Tue Nov 17, 2020 8:40 pm

Have the mods checked if this is a Johnny/Rose alt?

nixy

Gold
Posts: 4446
Joined: Fri Feb 16, 2018 8:58 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by nixy » Tue Nov 17, 2020 9:38 pm

bonusnewsnow wrote:
Tue Nov 17, 2020 5:26 pm
In the meantime, if I could give another counter-example, here is an average PI firm that I found by clicking the ad that popped up in this thread. https://accidents.vblawgroup.com

They've recovered $500 million for clients. Their cut is about 30% (contingency) or $150 million. Subtract a very generous $50 million for overheard and that leaves the two partners with $100 million. Click their bios. Nothing special. Just competent PI lawyers.
"average"?

Hutz_and_Goodman

Gold
Posts: 1650
Joined: Mon Apr 30, 2012 10:42 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by Hutz_and_Goodman » Tue Nov 17, 2020 10:12 pm

nixy wrote:
Tue Nov 17, 2020 9:38 pm
bonusnewsnow wrote:
Tue Nov 17, 2020 5:26 pm
In the meantime, if I could give another counter-example, here is an average PI firm that I found by clicking the ad that popped up in this thread. https://accidents.vblawgroup.com

They've recovered $500 million for clients. Their cut is about 30% (contingency) or $150 million. Subtract a very generous $50 million for overheard and that leaves the two partners with $100 million. Click their bios. Nothing special. Just competent PI lawyers.
"average"?

+1. More power to the attorneys that can build a practice netting $1 million+ per year doing PI work but this is not remotely to be expected.

Anonymous User
Posts: 428122
Joined: Tue Aug 11, 2009 9:32 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by Anonymous User » Wed Nov 18, 2020 1:07 am

I met a plaintiffs employment lawyer recently. I was shocked at how much he made. No, it wasn’t millions.

He has basically a solo practice. I think you can make really good money if you own the firm. Especially if you can leverage associates.

But you have to be good at so many things. Practicing law is the least important. You have to know SEO, selling yourself to referral partners, create good systems, have a basic understanding of business, have the ability to manage, have the ability to delegate, etc., etc.

Most smart T14 lawyers would rather sit behind a desk than cold call a lawyer for a referral. Just depends on what you like doing.

The shit tasks for owning your own firm, like cold calling and networking, are worse for a lot of a
Lawyers than doc review and research.

Pick your poison.

Want to continue reading?

Register now to search topics and post comments!

Absolutely FREE!


kls120

New
Posts: 48
Joined: Wed Aug 04, 2010 4:51 pm

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by kls120 » Wed Nov 18, 2020 1:50 am

I really want this guy to continue, it has been way too long since I lol'd while browsing the TLS.

Tide030

New
Posts: 6
Joined: Thu Jun 07, 2018 2:28 pm

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by Tide030 » Wed Nov 18, 2020 4:30 am

No way a solo makes $200K right out of school. Clients won't trust green attorneys with that many billable hrs and even PI cases won't settle that fast. Biglaw is still the quickest path to making the most money. But for the long term, sure solo practice probably wins that most of the time.

JusticeSquee

Bronze
Posts: 129
Joined: Sun Dec 22, 2019 10:29 pm

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by JusticeSquee » Wed Nov 18, 2020 8:16 am

OP is an idiot. This was a fun thread. Especially liked him discounting IRS data because it didn’t fit his narrative.

Being a solo practitioner can be profitable, but it’s more likely to lead to below-median earnings. This is not feasible for those with high student debt loads. It’s not complicated. Also doing a solo practice in Hattiesburg, Mississippi is a lot different (lower overhead costs) than doing it in Chicago/New York/Los Angeles/DC. And some folks want to live in cities.

bonusnewsnow

New
Posts: 47
Joined: Tue Nov 17, 2020 9:43 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by bonusnewsnow » Wed Nov 18, 2020 8:33 am

JusticeSquee wrote:
Wed Nov 18, 2020 8:16 am
OP is an idiot. This was a fun thread. Especially liked him discounting IRS data because it didn’t fit his narrative.

Being a solo practitioner can be profitable, but it’s more likely to lead to below-median earnings.
I didn't discount the IRS data. I simply asked for a source and method, and provided an alternate source/method that strongly contradicted what appeared to be an absurd number. I searched for the author and he's a self-styled "law school is a scam" blogger, an effort he pursues while working as a law school professor. He's sending you every "scorpion and the frog" signal possible that he is full of shit, and you want me to believe him without checking the source?

Every reply in this thread can be categorized into three groups:

1. "I don't have any personal experience with solo practice but I'm going to make broad generalizations about how no one can make money doing it. The only way to make money in law is by working as an associate in biglaw, at the 24/7 beck and call of a biglaw partner who pays you a small fraction of what he bills you out at." Successful solos aren't going to post here. The reddit guy is an anomaly. but it doesn't mean they don't exist!

2. "You're an idiot. You're stupid. You're this. You're that. Attack attack attack until you leave and this board's [possibly misleading] narrative is restored." ok ok I'll leave!

3. "Yes, you can make a lot of money and have control over your life as a solo, but I would rather be a worker bee." I think this is the saddest one of all, because the author has resigned to a life of unhappiness. How do you get up in the morning and say that to yourself? Shouldn't you reach for the brass ring before giving up on life? Self esteem!

Ask yourself this. Have you ever seen a sincerely actually happy biglawyer? Ever? Reddit guy is a sincerely happy solo. Your turn to provide an example of a happy biglawer.

Want to continue reading?

Register for access!

Did I mention it was FREE ?


nixy

Gold
Posts: 4446
Joined: Fri Feb 16, 2018 8:58 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by nixy » Wed Nov 18, 2020 8:48 am

bonusnewsnow wrote:
Wed Nov 18, 2020 8:33 am
3. "Yes, you can make a lot of money and have control over your life as a solo, but I would rather be a worker bee." I think this is the saddest one of all, because the author has resigned to a life of unhappiness. How do you get up in the morning and say that to yourself? Self-esteem.
Fuck off, pal. First, "some solos make decent money" (which is what I've acknowledged) does not mean every solo can make decent money. "Control over your life" also means doing a whole lot of non-law stuff (marketing, accounting, managing) that some people don't want to do. I know what does and doesn't make me happy, and the kind of self-directed work that being a solo requires doesn't make me happy. Also, some of us don't define ourselves by our work identity; I work so I can pay the bills, and then I go home and do the things that really matter to me. And finally, it's not like biglaw or solo are the only two options for lawyers. So when I say "worker bee" I'm not talking about being a biglaw associate.

So if you're not happy unless you're in charge of everything, that's great. You go be a solo. But don't impose your preferences on other people.

bonusnewsnow

New
Posts: 47
Joined: Tue Nov 17, 2020 9:43 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by bonusnewsnow » Wed Nov 18, 2020 8:53 am

nixy wrote:
Wed Nov 18, 2020 8:48 am
bonusnewsnow wrote:
Wed Nov 18, 2020 8:33 am
3. "Yes, you can make a lot of money and have control over your life as a solo, but I would rather be a worker bee." I think this is the saddest one of all, because the author has resigned to a life of unhappiness. How do you get up in the morning and say that to yourself? Self-esteem.
Fuck off, pal. First, "some solos make decent money" (which is what I've acknowledged) does not mean every solo can make decent money. "Control over your life" also means doing a whole lot of non-law stuff (marketing, accounting, managing) that some people don't want to do. I know what does and doesn't make me happy, and the kind of self-directed work that being a solo requires doesn't make me happy. Also, some of us don't define ourselves by our work identity; I work so I can pay the bills, and then I go home and do the things that really matter to me. And finally, it's not like biglaw or solo are the only two options for lawyers. So when I say "worker bee" I'm not talking about being a biglaw associate.
Ok so you're not a biglawyer. My mistake and I apologize. You're government or casual in-house. Those can be ok jobs. Everyone, even a rich trust-fund baby, needs something to do from 9-6 on weekdays and those jobs can fill that need without disrupting your life or happiness.

User avatar
cavalier1138

Moderator
Posts: 8007
Joined: Fri Mar 25, 2016 8:01 pm

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by cavalier1138 » Wed Nov 18, 2020 9:17 am

ghostoftraynor wrote:
Tue Nov 17, 2020 8:40 pm
Have the mods checked if this is a Johnny/Rose alt?
I checked for sock-puppeting, and they appear to legitimately just be someone with an axe to grind and a really, really big deficit in the comprehending-basic-things department.

Let's try to not let this devolve into a flame war. Beyond the inherent fun of dunking on bad takes, it's always good to have popular misconceptions debunked for any third parties reading threads like this.

bonusnewsnow

New
Posts: 47
Joined: Tue Nov 17, 2020 9:43 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by bonusnewsnow » Wed Nov 18, 2020 9:22 am

cavalier1138 wrote:
Wed Nov 18, 2020 9:17 am
ghostoftraynor wrote:
Tue Nov 17, 2020 8:40 pm
Have the mods checked if this is a Johnny/Rose alt?
I checked for sock-puppeting, and they appear to legitimately just be someone with an axe to grind and a really, really big deficit in the comprehending-basic-things department.

Let's try to not let this devolve into a flame war. Beyond the inherent fun of dunking on bad takes, it's always good to have popular misconceptions debunked for any third parties reading threads like this.
#2, by a person so unhappy they picked a scowling Richard Nixon as their icon. OK I'll really leave this time. Bye all.

Register now!

Resources to assist law school applicants, students & graduates.

It's still FREE!


nixy

Gold
Posts: 4446
Joined: Fri Feb 16, 2018 8:58 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by nixy » Wed Nov 18, 2020 9:34 am

the ad hominems are glorious.

JusticeSquee

Bronze
Posts: 129
Joined: Sun Dec 22, 2019 10:29 pm

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by JusticeSquee » Wed Nov 18, 2020 9:38 am

bonusnewsnow wrote:
Wed Nov 18, 2020 8:33 am
JusticeSquee wrote:
Wed Nov 18, 2020 8:16 am
OP is an idiot. This was a fun thread. Especially liked him discounting IRS data because it didn’t fit his narrative.

Being a solo practitioner can be profitable, but it’s more likely to lead to below-median earnings.
I didn't discount the IRS data. I simply asked for a source and method, and provided an alternate source/method that strongly contradicted what appeared to be an absurd number. I searched for the author and he's a self-styled "law school is a scam" blogger, an effort he pursues while working as a law school professor. He's sending you every "scorpion and the frog" signal possible that he is full of shit, and you want me to believe him without checking the source?

Every reply in this thread can be categorized into three groups:

1. "I don't have any personal experience with solo practice but I'm going to make broad generalizations about how no one can make money doing it. The only way to make money in law is by working as an associate in biglaw, at the 24/7 beck and call of a biglaw partner who pays you a small fraction of what he bills you out at." Successful solos aren't going to post here. The reddit guy is an anomaly. but it doesn't mean they don't exist!

2. "You're an idiot. You're stupid. You're this. You're that. Attack attack attack until you leave and this board's [possibly misleading] narrative is restored." ok ok I'll leave!

3. "Yes, you can make a lot of money and have control over your life as a solo, but I would rather be a worker bee." I think this is the saddest one of all, because the author has resigned to a life of unhappiness. How do you get up in the morning and say that to yourself? Shouldn't you reach for the brass ring before giving up on life? Self esteem!

Ask yourself this. Have you ever seen a sincerely actually happy biglawyer? Ever? Reddit guy is a sincerely happy solo. Your turn to provide an example of a happy biglawer.
I am a sincerely happy biglawyer. Anecdotal data is fun!

JusticeSquee

Bronze
Posts: 129
Joined: Sun Dec 22, 2019 10:29 pm

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by JusticeSquee » Wed Nov 18, 2020 9:57 am

bonusnewsnow wrote:
Tue Nov 17, 2020 5:26 pm
Paul Campos wrote:
Tue Nov 17, 2020 5:19 pm
Per IRS data, the average annual earnings for a solo legal practitioner in the USA in 2012 were $49,000.* The median was of course much lower, since the average is pulled up by a few massive outliers.

*Benjamin Barton, GLASS HALF FULL
Link please. I'd like to see how they define the group "solo legal practitioner." Specifically, earnings per hour of work would be useful because I bet a lot of the people categorized as "solos" are really not working at all.
This is fun, both because you are legitimately a moron and because the data disproves your thesis.

SOURCE: https://www.irs.gov/statistics/soi-tax- ... statistics

In 2018, of the solo practitioner law practices that had a reportable net income (so does not fit your definition of "not working at all" lol) the average (note, not median) net income for solo practitioners was $68,000. Note, this is not a starting net income, but rather the average for all solo practices which HAVE A NET INCOME. Forget the majority of solo practices which HAVE NO NET INCOME AND HAVE A HIGH CHANCE OF FAILING.

You are the one peddling lies. The data disproves you. Good that the Reddit dude succeeded. But I'm willing to bet that he was from a privileged background and had minimal student debt (also willing to bet he is a white man, but don't want to get into all that now). He does not change the statistics.

Now please, GTFO.

bonusnewsnow

New
Posts: 47
Joined: Tue Nov 17, 2020 9:43 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by bonusnewsnow » Wed Nov 18, 2020 10:08 am

JusticeSquee wrote:
Wed Nov 18, 2020 9:57 am
bonusnewsnow wrote:
Tue Nov 17, 2020 5:26 pm
Paul Campos wrote:
Tue Nov 17, 2020 5:19 pm
Per IRS data, the average annual earnings for a solo legal practitioner in the USA in 2012 were $49,000.* The median was of course much lower, since the average is pulled up by a few massive outliers.

*Benjamin Barton, GLASS HALF FULL
Link please. I'd like to see how they define the group "solo legal practitioner." Specifically, earnings per hour of work would be useful because I bet a lot of the people categorized as "solos" are really not working at all.
This is fun, both because you are legitimately a moron and because the data disproves your thesis.

SOURCE: https://www.irs.gov/statistics/soi-tax- ... statistics

In 2018, of the solo practitioner law practices that had a reportable net income (so does not fit your definition of "not working at all" lol) the average (note, not median) net income for solo practitioners was $68,000. Note, this is not a starting net income, but rather the average for all solo practices which HAVE A NET INCOME. Forget the majority of solo practices which HAVE NO NET INCOME AND HAVE A HIGH CHANCE OF FAILING.

You are the one peddling lies. The data disproves you. Good that the Reddit dude succeeded. But I'm willing to bet that he was from a privileged background and had minimal student debt (also willing to bet he is a white man, but don't want to get into all that now). He does not change the statistics.

Now please, GTFO.
I spent ten minutes reading through both spreadsheets in your link and didn't see that. Can you please do me a favor and provide a proper bluebook cite, that leads the reader to exactly where you're getting this information? I'm also curious about dollars/hours worked if you have that. This is necessary to discount people who do solo legal work part-time. One other issue is that most "solos" aren't really solos because they have one or two junior attorneys, paralegals or administrative assistants. Are you catching them in this number, or is the number only for lawyers who are literally solo without even an administrative assistant?

Edit: One other issue. Is this catching solo attorneys who don't report taxes as a sole proprietorship on Schedule C? Is it catching lawyers who are smart enough to set up a liabilty-protected entity for their business? The link says, "Nonfarm Sole Proprietorship Statistics" which "The Sole Proprietorship study covers basic data, including business receipts, deductions, and net income reported by an individual taxpayer on Schedule C of Form 1040."
JusticeSquee wrote:
Wed Nov 18, 2020 9:38 am
I am a sincerely happy biglawyer. Anecdotal data is fun!
TBH, you don't seem very happy in your writing tone. You seem like you're about to go off. This, "I'm on the verge of exploding" tone is one I've seen from biglawyers.

Get unlimited access to all forums and topics

Register now!

I'm pretty sure I told you it's FREE...


nixy

Gold
Posts: 4446
Joined: Fri Feb 16, 2018 8:58 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by nixy » Wed Nov 18, 2020 11:15 am

JusticeSquee wrote:
Wed Nov 18, 2020 9:57 am
This is fun, both because you are legitimately a moron and because the data disproves your thesis.

SOURCE: https://www.irs.gov/statistics/soi-tax- ... statistics

In 2018, of the solo practitioner law practices that had a reportable net income (so does not fit your definition of "not working at all" lol) the average (note, not median) net income for solo practitioners was $68,000. Note, this is not a starting net income, but rather the average for all solo practices which HAVE A NET INCOME. Forget the majority of solo practices which HAVE NO NET INCOME AND HAVE A HIGH CHANCE OF FAILING.

You are the one peddling lies. The data disproves you. Good that the Reddit dude succeeded. But I'm willing to bet that he was from a privileged background and had minimal student debt (also willing to bet he is a white man, but don't want to get into all that now). He does not change the statistics.

Now please, GTFO.
I actually agree that bonusnewsnow is extrapolating way too broadly based on cherry-picked solos and biglaw associates (also that there are factors like being a white dude that play into success, and that comments on your tone are dumb). But nothing about the data on solo practices that had a net income tells you that the majority of solo practices have no net income. And that the data is from sole proprietorships really does seem pretty limiting, since I can’t see why most solos would operate as sole proprietors.

JusticeSquee

Bronze
Posts: 129
Joined: Sun Dec 22, 2019 10:29 pm

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by JusticeSquee » Wed Nov 18, 2020 11:27 am

bonusnewsnow wrote:
Wed Nov 18, 2020 10:08 am
JusticeSquee wrote:
Wed Nov 18, 2020 9:38 am
I am a sincerely happy biglawyer. Anecdotal data is fun!
TBH, you don't seem very happy in your writing tone. You seem like you're about to go off. This, "I'm on the verge of exploding" tone is one I've seen from biglawyers.
I'm a generally happy person. Biglaw isn't the source of my happiness, it's just a way to make money so I can enjoy my life with friends/family. Some people in biglaw are unhappy, others are not. Some people who open their own law firms are millionaires (I suspect the vast majority are not).

bonusnewsnow

New
Posts: 47
Joined: Tue Nov 17, 2020 9:43 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by bonusnewsnow » Wed Nov 18, 2020 11:39 am

nixy wrote:
Wed Nov 18, 2020 11:15 am
there are factors like being a white dude that play into success
White dudes with PI practices where their clients are accident victims have a racial advantage? Almost all PI websites advertise their bilingual ability. Click the reddit guy's practice and look at his staff. You're claiming that biglaw is the place to go if you don't want your minority/gender status to work against you?

Getting back to the IRS data. That spreadsheet claims the average sole proprietor doctor makes $71,000 a year (go to that row and divide net income by # of returns). The average sole prop. doctor with that expensive doctor equipment and at least one assistant and nurse makes $71,000. It appears to be understating results. More tellingly, the average sole proprietor across all industries makes about $16,000, welfare level money. The average American small business owner makes welfare level money.

bonusnewsnow

New
Posts: 47
Joined: Tue Nov 17, 2020 9:43 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by bonusnewsnow » Wed Nov 18, 2020 11:50 am

Paul Campos wrote:
Tue Nov 17, 2020 5:19 pm
Per IRS data, the average annual earnings for a solo legal practitioner in the USA in 2012 were $49,000.* The median was of course much lower, since the average is pulled up by a few massive outliers.

*Benjamin Barton, GLASS HALF FULL
When you and Mr. Barton correct your analysis, please cite to this thread. :D

Communicate now with those who not only know what a legal education is, but can offer you worthy advice and commentary as you complete the three most educational, yet challenging years of your law related post graduate life.

Register now, it's still FREE!


nixy

Gold
Posts: 4446
Joined: Fri Feb 16, 2018 8:58 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by nixy » Wed Nov 18, 2020 12:37 pm

bonusnewsnow wrote:
Wed Nov 18, 2020 11:39 am
nixy wrote:
Wed Nov 18, 2020 11:15 am
there are factors like being a white dude that play into success
White dudes with PI practices where their clients are accident victims have a racial advantage? Almost all PI websites advertise their bilingual ability. Click the reddit guy's practice and look at his staff. You're claiming that biglaw is the place to go if you don't want your minority/gender status to work against you?
What on earth about what I said suggests I think biglaw is where to go if you don’t want your racial/gender identity to work against you? Just because I point out a difficulty in doing solo work doesn’t mean I’m claiming biglaw is better.

Anonymous User
Posts: 428122
Joined: Tue Aug 11, 2009 9:32 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by Anonymous User » Wed Nov 18, 2020 12:57 pm

bonusnewsnow wrote:
Wed Nov 18, 2020 8:33 am
JusticeSquee wrote:
Wed Nov 18, 2020 8:16 am
OP is an idiot. This was a fun thread. Especially liked him discounting IRS data because it didn’t fit his narrative.

Being a solo practitioner can be profitable, but it’s more likely to lead to below-median earnings.
I didn't discount the IRS data. I simply asked for a source and method, and provided an alternate source/method that strongly contradicted what appeared to be an absurd number. I searched for the author and he's a self-styled "law school is a scam" blogger, an effort he pursues while working as a law school professor. He's sending you every "scorpion and the frog" signal possible that he is full of shit, and you want me to believe him without checking the source?

Every reply in this thread can be categorized into three groups:

1. "I don't have any personal experience with solo practice but I'm going to make broad generalizations about how no one can make money doing it. The only way to make money in law is by working as an associate in biglaw, at the 24/7 beck and call of a biglaw partner who pays you a small fraction of what he bills you out at." Successful solos aren't going to post here. The reddit guy is an anomaly. but it doesn't mean they don't exist!

2. "You're an idiot. You're stupid. You're this. You're that. Attack attack attack until you leave and this board's [possibly misleading] narrative is restored." ok ok I'll leave!

3. "Yes, you can make a lot of money and have control over your life as a solo, but I would rather be a worker bee." I think this is the saddest one of all, because the author has resigned to a life of unhappiness. How do you get up in the morning and say that to yourself? Shouldn't you reach for the brass ring before giving up on life? Self esteem!

Ask yourself this. Have you ever seen a sincerely actually happy biglawyer? Ever? Reddit guy is a sincerely happy solo. Your turn to provide an example of a happy biglawer.
This is anecdotal, but I've worked in law for years and talked with dozens of solo and small firm attorneys about going solo after law school. They all said it's usually foolish to do it right out of law school. Also, I've met happy biglaw lawyers. Especially ones that did it for a several years, made a bunch of money, and moved into positions where they enjoyed their work more and were paid the same or more for working a lot less.

bonusnewsnow

New
Posts: 47
Joined: Tue Nov 17, 2020 9:43 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by bonusnewsnow » Wed Nov 18, 2020 2:13 pm

I'm not saying every graduate who starts a solo practice will do well. I'm saying that among graduates who work as lawyers, only losers relegate themselves to a life-long associate position. Some graduates don't do biglaw, own firm, government or in-house, because they're not as good as the lawyers they compete with (no one said opening your own firm insulates you from competition), they fundamentally dislike legal work, they found a better career, or a multitude of other reasons.

I mention this because this morning I read an article on ATL, which stated that law school applications are up by 50% from where they were a year ago. That's not going to turn out well. https://abovethelaw.com/2020/11/theres- ... ns-way-up/

nixy

Gold
Posts: 4446
Joined: Fri Feb 16, 2018 8:58 am

Re: Why biglawyers are losers. 36 year old makes $10 million a year with his own firm

Post by nixy » Wed Nov 18, 2020 2:47 pm

Who here has suggested they want “a life-long associate position?” to be an associate for the rest of their lives? Biglaw doesn’t generally even let you do that, right? Seems like a huge strawman.

Seriously? What are you waiting for?

Now there's a charge.
Just kidding ... it's still FREE!


Locked

Return to “Legal Employment”