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Junior v50 biglaw partner on reddit: $850k not enough to maek it in NYC
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Date: February 2nd, 2025 11:32 PM Author: .,..,..,.,,..,..,,,,,,,,..,...,.,.,., https://www.reddit.com/r/biglaw/comments/1ifzcgv/nyc_partner_salary_reality_check/
I know I’m going to get shredded for this, but here goes: I’m a second-year partner at a V50 firm in NYC, making around $850K, and it just doesn’t feel like that much money. I don’t mean that in an abstract sense—I mean that I genuinely don’t feel like I’m living like someone who makes $850K/year.
I have two kids (another on the way) and rent a two-bedroom in Carroll Gardens for $5,900/month. My husband and I have been trying to buy a home that fits a family of five, but Brooklyn prices are insane. Anything semi-decent (move-in ready) is either wildly unaffordable—especially at today’s 7% interest rates—or in a neighborhood where private school would be a must, making it just as unaffordable.
We’ve considered the suburbs, but anything truly worth coming home to after these long hours—and within 1.5 hours of my office—is going to be $2-2.4M minimum. With current mortgage rates and NJ/Westchester property taxes, that’s a ~$17-18K/month nut. My monthly draw is around $21k.
I know this sounds entitled/insane, but I wanted to add another data point on what life is like in NYC as a Biglaw partner. My sense is that partners before the 2010s could afford to actually live in NYC much sooner after making partner, while for me, that kind of financial breathing room feels a long way off. NYC is increasingly for the ultra-rich or the poor, with the middle class (upper, middle, lower) disappearing entirely.
Again, I know it’s crazy to suggest that making $850K is somehow “struggling,” or "upper middle class," but it simply doesn’t go as far as it did 15 years ago in NYC. I don’t see this sentiment discussed much—so tell me, am I way off base? |
Date: February 2nd, 2025 11:34 PM Author: Tyler, The Poaster their rent is <$6k and they dont send their kids to private school - what the fuck are they spending their money on? (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616646) |
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Date: February 2nd, 2025 11:35 PM Author: Wife shaving her vagina before a business trip Yeah her salary alone is 43k a month after tax (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616651) |
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Date: February 2nd, 2025 11:37 PM Author: .,..,..,.,,..,..,,,,,,,,..,...,.,.,., it seems like the bulk of her salary is paid at the end of the year from the comments. normally she is paid 21k a month apparently. (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616660) |
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Date: February 3rd, 2025 12:08 AM Author: Wife shaving her vagina before a business trip Still (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616730) |
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Date: February 3rd, 2025 12:10 AM Author: Ass Sunstein Yeah, but she is basically saying she wants to live off her base salary and not take bonus into account, so yeah, obviously she can't afford much doing that. (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616735) |
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Date: February 2nd, 2025 11:34 PM Author: Wife shaving her vagina before a business trip A $2.5 million house is easily affordable on a 850k salary. Also, she should have 1-2 million saved up by now easy. (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616647) |
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Date: February 2nd, 2025 11:36 PM Author: """""""'" " Also, she should have 1-2 million saved up by now easy."
no way. she has only been a partner 2 years so she has only been in BIGLAW max 10 years. she probably spent the first few just paying down student loans. then it's unlikely she'd save that much given that she wasn't making 850k as an associate. |
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Date: February 2nd, 2025 11:34 PM Author: """""""'" is the 21k monthly "draw" pre or post tax?
also, LOL @ NYC |
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Date: February 2nd, 2025 11:37 PM Author: Die Hard 2: Die Harder Given everything she wrote I assume her husband makes 150K max.
She would be better off buying a 1BR than renting that 2BR |
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Date: February 2nd, 2025 11:40 PM Author: .,..,..,.,,..,..,,,,,,,,..,...,.,.,., a 1br with 3 kids? (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616667) |
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Date: February 2nd, 2025 11:45 PM Author: AI_concubine Women are retarded about money. And imagine if your wife was a big law partner (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616675) |
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Date: February 2nd, 2025 11:58 PM Author: but at what cost lol @ the comments from all the poors on Reddit (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616697) |