95k / yr Job VS T14 Law School
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Date: September 30th, 2015 6:33 PM Author: bistre travel guidebook Subject: 95K yr Job VS T14 Law School
My younger brother works in back office division of a finance company in NYC. Makes 95k a year.
He's recently got really bored with his job due to lack of challenging work, boring task, easy hours, etc. Hence, he's been looking to make a jump to a more competitive career.
He's been trying hard, for last 6 months, to break into a front office role at his bank. That hasn't been a success, yet.
He recently took LSAT and is prepping for GMAT, thinking that he will likely pursue either law school or MBA to break into either Biglaw or I-banking / Mgmt Consulting. He scored 172 on LSAT. I don't exactly know his undergrad GPA, but assuming that he gets into a T14 school, would it be worth it to attend?
Let's assume some hypos:
1. He gets into a low-tier T14 at half scholarship
2. He gets into a T6 school (CCN) at sticker price
Is either of above option credited in his situation?
(http://www.autoadmit.com/thread.php?thread_id=3005232&forum_id=2#28870966)
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Date: September 30th, 2015 8:42 PM Author: bistre travel guidebook
"No one IN THIS ECONOMY with only 2-3 years of experience with only a BA/BS degree earns 95k"
-> I made 70k base salary first year out of school. I worked at a tech consulting firm. I also got paid overtime, per diem (whenever I traveled), etc.
Plenty of people make 90-100k 5-7 years out of school.
(http://www.autoadmit.com/thread.php?thread_id=3005232&forum_id=2#28871717)
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Date: September 30th, 2015 8:44 PM Author: bistre travel guidebook
"No one in back office makes 95k."
-> depends on what kind of back office job you're talking about. Lowest-level back office jobs, such as operations (just clearing trades, data entry, etc) have moderate pay.
other 'back office' jobs pay much better. Sales reporting, data analytics, risk, finance, technology, etc.
(http://www.autoadmit.com/thread.php?thread_id=3005232&forum_id=2#28871734) |
Date: September 30th, 2015 8:47 PM Author: bistre travel guidebook
"why would he go to LS instead of bid-ness school"
-> He hasn't made up his mind yet. He's still prepping for GMAT and lining up references that will write him rec's required to apply for b-schools. He plans to apply to both MBA and law schools, see which ones he gets into, and make decisions based on how things pan out.
One hesitation he has about MBA is based on the suspicion that the MBA is largely a networking degree where you learn nothing of value. No different than an undergrad business or econ degree.
(http://www.autoadmit.com/thread.php?thread_id=3005232&forum_id=2#28871761)
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Date: September 30th, 2015 9:07 PM Author: angry big turdskin institution
95k in NYC = 40k in my current city (which is fucking great). what a scam, yr bro basically lives like some dude who works at a verizon store and is contemplating massive debt and lifelong servitude in the shittiest "career" imaginable just to have a shot at pushing into a middle class lifestyle in his current location
Goldman has a massive back end operation in Salt Lake City. he should at least apply there before literally throwing his life away on law school
(http://www.autoadmit.com/thread.php?thread_id=3005232&forum_id=2#28871916) |
Date: September 30th, 2015 9:13 PM Author: bistre travel guidebook
"95k in NYC = 40k in my current city"
-> NYC, SF, and LA are only significantly more expensive than other cities if you live close to downtown area without roommates.
If you get a roommate to share a place in manhattan or go out to live in Jersey, cost of living doesn't differ that much from other big cities.
My brother's after tax is 5k a month. He pays 1300 per month on rent, 5-700 on food, 2-300 on drinks, etc. He saves well over 2.5k a month.
You go ahead and try saving 2-3k a month on your 40k a year salary in your bumbfuck town. not gonna happen.
(http://www.autoadmit.com/thread.php?thread_id=3005232&forum_id=2#28871956) |
Date: September 30th, 2015 10:25 PM Author: bistre travel guidebook
I think the best money is in sales. I heard from my brother that the salespeople at his bank clear 300k if they're any decent at it. (inst. sales and retail wealth mgmt sales)
half of his bank's partners hail from sales department. a lot of these guys clear 2-3 Mil a year.
i guess, if you wanna make big bucks, u gotta know how to schmooze.
(http://www.autoadmit.com/thread.php?thread_id=3005232&forum_id=2#28872568) |
Date: September 30th, 2015 10:27 PM Author: ocher vigorous sandwich
If you're in finance and not doing front office Private Equity or Hedge Fund you're a filthy prole and should killself.
(http://www.autoadmit.com/thread.php?thread_id=3005232&forum_id=2#28872583)
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