Are you making 3x your tuition? Forum
- Scotusnerd
- Posts: 811
- Joined: Sat Oct 01, 2011 7:36 pm
Are you making 3x your tuition?
Think this is accurate? I just found this while cruisin' law.com
http://thecareerist.typepad.com/thecare ... -news.html
http://thecareerist.typepad.com/thecare ... -news.html
- johnnyutah
- Posts: 1701
- Joined: Tue Aug 10, 2010 6:00 pm
Re: Are you making 3x your tuition?
I make about .75x my annual tuition.Scotusnerd wrote:Think this is accurate? I just found this while cruisin' law.com
http://thecareerist.typepad.com/thecare ... -news.html
- 20130312
- Posts: 3814
- Joined: Wed Nov 09, 2011 8:53 pm
Re: Are you making 3x your tuition?
Probs the most worthless article I've ever read. Comparing law school starting salaries to b school salaries is silly, since you basically need at least 3-5 years of experience to get into the top MBA programs. The salaries they cited were probably for some people that had been working for much longer than that and already making good money by the time they decided to get their MBA.Scotusnerd wrote:Think this is accurate? I just found this while cruisin' law.com
http://thecareerist.typepad.com/thecare ... -news.html
Also, that chick is pretty cute.
- dailygrind
- Posts: 19907
- Joined: Wed Oct 22, 2008 11:08 am
Re: Are you making 3x your tuition?
I've decided to drop out of school and enroll in Cooley at like 1k a year so when I graduate and work as a waiter, I will be able to easily afford a new home on my 25k a year salary.
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- Posts: 5
- Joined: Mon Oct 31, 2011 12:24 am
Re: Are you making 3x your tuition?
Is 3x tuition even feasible in this economy? I'm going back next semester to finish my undergrad and the tuition for the state school I'll get my degree from is 20k a semester...I've only known one person who could get 60k right after college, most have started at 30k with their degrees.
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- AreJay711
- Posts: 3406
- Joined: Tue Jul 20, 2010 8:51 pm
Re: Are you making 3x your tuition?
Most people don't buy homes right after undergrad and graduate with less than that much debt though. I think this is just another "Why not to go to law school" article.thebrookdweller wrote:Is 3x tuition even feasible in this economy? I'm going back next semester to finish my undergrad and the tuition for the state school I'll get my degree from is 20k a semester...I've only known one person who could get 60k right after college, most have started at 30k with their degrees.
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- Posts: 205
- Joined: Thu Jun 30, 2011 2:12 pm
Re: Are you making 3x your tuition?
Question: Am I making 3x my tuition?
Answer: Yes.
Lesson: Don't go to a TTT (or even anything outside the T14).
Answer: Yes.
Lesson: Don't go to a TTT (or even anything outside the T14).
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- Posts: 605
- Joined: Sat Jan 22, 2011 9:40 am
Re: Are you making 3x your tuition?
Anyone who has biglaw easily makes 3-4x their tuition.
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- Posts: 3727
- Joined: Sat Feb 06, 2010 2:23 pm
Re: Are you making 3x your tuition?
Most T14 students will end up making 3x their tuition, but not 3x their cost of attendance. If you take out full COA in loans at a T14 you will need to pay some of them down before digging yourself deeper into the hole with a real estate purchase.
- Scotusnerd
- Posts: 811
- Joined: Sat Oct 01, 2011 7:36 pm
Re: Are you making 3x your tuition?
I was starting to wonder if something was wrong with the community. I was expecting 'Biglaw or Bust' from the outset. Glad to see you guys finally found the thread!
Dailygrind made me laugh.
Dailygrind made me laugh.
- 180asBreath
- Posts: 480
- Joined: Fri Sep 23, 2011 10:47 am
Re: Are you making 3x your tuition?
"A Columbia Business School grad landed a $300,000-a-year hedge fund job this year and possibly received a guaranteed bonus of $235,000, according to the school’s just released 2011 employment report.
As large as that potential windfall might be—a total of $535,000–it still wouldn’t allow that person to surpass this year’s graduating Stanford MBA who reported to his school that he received a guaranteed bonus alone of $500,000. That person’s likely total annual compensation: $675,000."
If only I didn't have a soul... haha.
As large as that potential windfall might be—a total of $535,000–it still wouldn’t allow that person to surpass this year’s graduating Stanford MBA who reported to his school that he received a guaranteed bonus alone of $500,000. That person’s likely total annual compensation: $675,000."
If only I didn't have a soul... haha.
- CactusPuppy
- Posts: 97
- Joined: Sat Dec 24, 2011 9:56 am
Re: Are you making 3x your tuition?
In 2007 and 2008, I made 2.00x my 2011-2012 law school tuition.johnnyutah wrote:I make about .75x my annual tuition.Scotusnerd wrote:Think this is accurate? I just found this while cruisin' law.com
http://thecareerist.typepad.com/thecare ... -news.html
In 2009 and 2010, I made 1.00x
In 2011, I made 0.15x =(
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- Joined: Fri Oct 22, 2010 8:16 pm
Re: Are you making 3x your tuition?
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Last edited by 83947368 on Wed Jul 25, 2012 2:56 pm, edited 1 time in total.
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- Patriot1208
- Posts: 7023
- Joined: Tue May 18, 2010 11:28 am
Re: Are you making 3x your tuition?
That's only one person. The median person out of Columbia's b school will likely be making somewhere around biglaw money. The upside is a lot higher but you also have to have multiple years of work experience to get in and that work experience largely dictates where you end up after b school. Meaning, almost every person that goes from B school to PE/VC/HF will probably have had a PE/VC/HF or at least BB IBD job before b school. Even at Harvard the biggest employers are MBB, which pay roughly biglaw money all in to new associates. And the one guy I know at Harvard's b school will tell you that unless you had good finance experience before getting your MBA, you aren't getting good finance interviews.180asBreath wrote:"A Columbia Business School grad landed a $300,000-a-year hedge fund job this year and possibly received a guaranteed bonus of $235,000, according to the school’s just released 2011 employment report.
As large as that potential windfall might be—a total of $535,000–it still wouldn’t allow that person to surpass this year’s graduating Stanford MBA who reported to his school that he received a guaranteed bonus alone of $500,000. That person’s likely total annual compensation: $675,000."
If only I didn't have a soul... haha.
- dingbat
- Posts: 4974
- Joined: Wed Jan 11, 2012 9:12 pm
Re: Are you making 3x your tuition?
This is complete dung.
Yes, many people make more money coming out of business school - working for an investment bank or hedge fund.
However, huge numbers of those people have been let go right now. Both investment banks and hedge funds are very quick to fire people. Most of those high earners don't last 5 years with such a salary and many don't even make 12 months.
Right now, there are no finance jobs around and everyone who has one is panicking they don't lose theirs.
I work closely with lots of investment banks and hedge funds and I'm telling this out of experience.
Also, as for debt standards, it's not about earning a multiple. If you're earning 150,000 living in the Dakotas, you'll have a good life, even if you've racked up $250,000 in law school debt.
However, if you're living in NYC and making $150,000, you still can't afford to buy an apartment even if you got a free ride and came out debt free.
Yes, many people make more money coming out of business school - working for an investment bank or hedge fund.
However, huge numbers of those people have been let go right now. Both investment banks and hedge funds are very quick to fire people. Most of those high earners don't last 5 years with such a salary and many don't even make 12 months.
Right now, there are no finance jobs around and everyone who has one is panicking they don't lose theirs.
I work closely with lots of investment banks and hedge funds and I'm telling this out of experience.
Also, as for debt standards, it's not about earning a multiple. If you're earning 150,000 living in the Dakotas, you'll have a good life, even if you've racked up $250,000 in law school debt.
However, if you're living in NYC and making $150,000, you still can't afford to buy an apartment even if you got a free ride and came out debt free.
- mattviphky
- Posts: 1111
- Joined: Fri Jan 28, 2011 6:43 pm
Re: Are you making 3x your tuition?
i hope it is rapid tuition increase and not salary decreaseCactusPuppy wrote:In 2007 and 2008, I made 2.00x my 2011-2012 law school tuition.johnnyutah wrote:I make about .75x my annual tuition.Scotusnerd wrote:Think this is accurate? I just found this while cruisin' law.com
http://thecareerist.typepad.com/thecare ... -news.html
In 2009 and 2010, I made 1.00x
In 2011, I made 0.15x =(
- 20130312
- Posts: 3814
- Joined: Wed Nov 09, 2011 8:53 pm
Re: Are you making 3x your tuition?
Considering they said 2011-2012 was when they were in law school, I'm going to guess they were working in '07 and '08 and not in law school yet. In other words, the change is almosts definitely due to salary decrease (with perhaps a sprinkle of tuition increase).mattviphky wrote:i hope it is rapid tuition increase and not salary decreaseCactusPuppy wrote:In 2007 and 2008, I made 2.00x my 2011-2012 law school tuition.johnnyutah wrote:I make about .75x my annual tuition.Scotusnerd wrote:Think this is accurate? I just found this while cruisin' law.com
http://thecareerist.typepad.com/thecare ... -news.html
In 2009 and 2010, I made 1.00x
In 2011, I made 0.15x =(
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