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Seems like for how much work it takes to be Big Law partner, comp isn't that gre
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Date: August 19th, 2018 10:41 AM Author: purple federal idiot university at.
All those years toiling away through being an associate with soul crushing hours and work to have a remote chance at obtaining something which is slightly less soul crushing for like 800k a year? What's the point? Would not even be close to making you actually rich and it isn't enough to be truly appreciably better in any way than someone's life who makes 1/2 that. |
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Date: August 19th, 2018 10:47 AM Author: embarrassed to the bone gay mexican point 100% agree. My life isnt any better now than when I made 300k. The only difference now is im getting to retirement faster. Money is overrated and friends, family, and time for hobbies is what is really important. Once you hit a minimum threshold (200-300k) you wont be any happier. People who make 200-300k a year think seven figures think it will make them happier but thats because they have never made seven figures. Working on your relationships and having fun interests will increase your happiness way more after that amount of income. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643027) |
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Date: August 19th, 2018 11:30 AM Author: purple federal idiot university (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643189) |
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Date: August 19th, 2018 11:52 AM Author: Chocolate Brunch tell me how to make 200-300k relatively easily (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643273) |
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Date: August 19th, 2018 5:24 PM Author: embarrassed to the bone gay mexican point Go solo. I could make 200 working 10 hours a week. So can you if you do the right things. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36644671) |
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Date: August 19th, 2018 2:37 PM Author: stimulating nowag locus (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36644047) |
Date: August 19th, 2018 10:45 AM Author: rough-skinned rigor water buffalo PPP is 2-6 million at major firms
You probably hit those averages in your early 40s after a several years as a junior partner |
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Date: August 19th, 2018 3:01 PM Author: harsh stubborn gas station affirmative action nah, the mean exceeds the median. rainmakers now take as much as 10X the lowest paid partner. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36644137) |
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Date: August 19th, 2018 3:48 PM Author: green exhilarant dragon lay The multiple is more like 20-25x at a lot of firms (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36644312) |
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Date: August 19th, 2018 10:46 AM Author: Floppy Ruddy Theatre The real key is to make partner in the 1980s. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643026) |
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Date: August 19th, 2018 11:07 AM Author: insanely creepy idiotic senate (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643092) |
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Date: August 19th, 2018 11:23 AM Author: purple federal idiot university Cr as fuck. Then you can just go into chill politics and make 250K speeches like Hillary RODHAM Clinton. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643152) |
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Date: August 19th, 2018 11:25 AM Author: charismatic hell cuck (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643159) |
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Date: August 19th, 2018 11:04 AM Author: chest-beating lascivious masturbator trailer park The point is that toiling away has low returns as you point out even if you make partner. It's not worth the time trade. The more devastating issue is ithe remote possibility of making partner as a grinder. Guess what? Grinders don't bring new money to the partnership, and grinders are fungible. TCR biglaw strategy, if that's what you're going to do, is to originate and ape BD. Your expertise in any practice area hits a HUGE plateau around year 5 or 6 and there isn't another major jump until you put in another 10,000 hours and become a nation or industry-wide MFE. While this step is in your control, unlike ascent to partnership, the time return profile is similar. So fuck it. If you're a business originator you are spending your time (1) socializing and entertaining , (2) representing friends, (3) delegating substantive work. Oh and you're not fungible, and you actually add profits to the partnership that are attached to your name. You can take the book with you if you don't like the deal at your current firm. You're levels removed from the soul crushing day to day of biglaw, will be infinitely more successful in the short and long-term, and you'll have more time outside of work. Why don't people do this |
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Date: August 19th, 2018 11:07 AM Author: Bisexual stag film (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643091) |
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Date: August 19th, 2018 11:09 AM Author: purple federal idiot university Very good poa Colt tp
"Guess what? Grinders don't bring new money to the partnership, and grinders are fungible."
Yikes. One more time for the cheap seats in the back.
Problem is, as you point out, is BizDev and being good at that. A "rainmaker" as it were, but how many autistic people who just want to grind on the hamster wheel would even be good at this? |
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Date: August 19th, 2018 11:10 AM Author: lemon parlor macaca also, how do you get clients when your clients at a v20sih firm are all huge funds, banks and multinationals? (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643107) |
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Date: August 19th, 2018 11:15 AM Author: purple federal idiot university When you see a Russian oligarch across the room at Le Bernardin, wave him over to your table. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643128) |
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Date: August 19th, 2018 11:12 AM Author: Histrionic Hall rainmaker bro i primarily work with is all over me about biz dev. i fucking HATE that shit. i may do this for a few more years until my kids are out of daycare and become a truck driver or some shit. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643117) |
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Date: August 19th, 2018 11:17 AM Author: purple federal idiot university I assume the issue you're describing is incredibly common. Lawyers are like a step above accountants on introvert scale. There's like 1,000 autists per one Johnnie Cochran. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643136) |
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Date: August 19th, 2018 11:32 AM Author: Nofapping fortuitous meteor dingle berry Bro, I'll cook some meth and we can run a rig cross country non-stop. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643201) |
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Date: August 19th, 2018 12:15 PM Author: Histrionic Hall I’m down (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643407) |
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Date: August 19th, 2018 11:46 AM Author: splenetic vengeful tanning salon internal respiration This is the strategy if you want to make it, but the issue is you can spend years slaving away at BD and never bring in a client with matters appropriate for biglaw rates. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643260) |
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Date: August 19th, 2018 12:18 PM Author: Mauve bipolar spot trump supporter (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643420) |
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Date: August 19th, 2018 1:00 PM Author: lemon parlor macaca (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643596) |
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Date: August 19th, 2018 1:38 PM Author: splenetic vengeful tanning salon internal respiration As a follow up, it takes years of article writing, conference attending and industry socializing (with people you don’t want to socialize with) and other nonbillable efforts firms considee BD before you MIGHT bring in a client that throws you 200k in billables per year, just barely justifying a firm’s decision to allow you non-equity partnership that can be taken away at any time.
And in that partnership race, you’re likely already up against someone whose relative or best friend’s dad or someone is already a GC or something.
Long story short, if you are a mid-level, ask yourself - is there someone ALREADY in my family or social circle who is in a position to send business to a big law firm (regardless of whether thats me at the moment)? If not, BD is going to be tortuous and will likely amount to nothing even after years of effort. |
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Date: August 19th, 2018 2:13 PM Author: chest-beating lascivious masturbator trailer park Lol at writing articles to get business. Just make friends with bankers and entrepreneurs and it will come. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643938) |
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Date: August 19th, 2018 3:57 PM Author: splenetic vengeful tanning salon internal respiration I agree writing articles is shit, but at my firm at least they wanted you to do that along with RFPs, nonbillable client presentations, etc. Just additional hoops they made you start jumping through, right when you reached midlevel and had begun to have enough of law generally (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36644343) |
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Date: August 19th, 2018 6:23 PM Author: chest-beating lascivious masturbator trailer park The most successful young guys I know just get hired by all their friends, work hard for them, and let reputation and network grow from there (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36644892) |
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Date: August 19th, 2018 2:24 PM Author: lemon parlor macaca "as a follow up"
stop poasting like a biglawyer you faggot
does anyone actually get business from writing articles? like does an inhouse counsel read one and reach out and go "oh hey interesting article, we wanna hire you!"? |
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Date: August 19th, 2018 4:13 PM Author: galvanic quadroon place of business The point of writing articles is so that you can list them in your pitch book / RFP and seem like you're a "thought leader" or whatever BS term is popular at the moment. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36644423) |
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Date: August 19th, 2018 1:43 PM Author: Trip sound barrier So the Cr strategy is to be a rainmaker? (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643815) |
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Date: August 19th, 2018 2:12 PM Author: chest-beating lascivious masturbator trailer park Adopt this as a middle level associate if you want to avoid a life of grinding (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643936) |
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Date: August 19th, 2018 3:09 PM Author: cyan contagious wagecucks plaza lol NOWAG (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36644173) |
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Date: August 19th, 2018 6:22 PM Author: chest-beating lascivious masturbator trailer park CCRRRR (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36644887) |
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Date: August 19th, 2018 11:11 AM Author: Opaque Deer Antler Public Bath When I was a summer, one of the rainmaker partners told us that “being a iglaw partner is one of the hardest ways to make money”
He was making like 3-4m so we all just secretly rolled our eyes, but I do get his point now |
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Date: August 19th, 2018 11:22 AM Author: purple federal idiot university Right, I mean, 3-4 million is a very healthy income, don't get me wrong. It's actually fantastic and puts you 10x above the threshold of being in the '1 percent' (380K).
BUT-
It's a question of what it requires to get there and how teeny tiny slim of a chance it is that it will ever even happen. Running a small business, real estate, investing, seems to be so many more ways to generate comparable earnings with less sacrifice. Even the medical profession where salaries are high and work is very stressful but much more rewarding. |
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Date: August 19th, 2018 11:25 AM Author: rough-skinned rigor water buffalo Very few small business owners and docs make 3-4 million a year (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643161) |
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Date: August 19th, 2018 11:30 AM Author: purple federal idiot university True, but plenty make around 500K-2 million, not factoring in QoL, job satisfaction, independence and other factors. Either way, I assume the people who become Big Law partners genuinely "like" the work they do or find it interesting - but it just seems to me to be hugely sacrificial for increasingly diminishing returns. Again, I don't see a huge difference in life satisfaction between making 600k/year as a small business owner than 1.8 million as a Big Law partner, especially taking intangibles into consideration. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643184) |
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Date: August 19th, 2018 11:27 AM Author: Khaki at-the-ready genital piercing fat ankles dumb thread from a dumb kike (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643168) |
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Date: August 19th, 2018 11:30 AM Author: purple federal idiot university yeah love u too (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643187) |
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Date: August 19th, 2018 12:32 PM Author: alcoholic unhinged gaping indian lodge small businesses are a terrible way to make money. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643476) |
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Date: August 19th, 2018 1:44 PM Author: Trip sound barrier This. The chance of maeking it in small biz is about the same as biglol, but same hours and lower pay (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643819) |
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Date: August 19th, 2018 2:39 PM Author: Histrionic Hall how do you define maeking it in biglaw? small business is probably much harder to pull off (unless by maek it you mean become a rainmaker partner and make like 3 mil+ a year) (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36644051) |
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Date: August 19th, 2018 3:17 PM Author: Chocolate Brunch aren't franchises almost guaranteed money machines? (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36644194) |
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Date: August 19th, 2018 7:04 PM Author: Bat-shit-crazy regret sort of, but for a lot of franchises you need a shitload of capital just to start out and buy one (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36645133) |
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Date: August 19th, 2018 4:14 PM Author: galvanic quadroon place of business At least you're working for yourself in small biz. Something to be said for grinding on your time vs. because some asshole tells you to (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36644433) |
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Date: August 19th, 2018 11:09 PM Author: purple federal idiot university t h i s |
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Date: August 19th, 2018 6:27 PM Author: hideous locale roommate I think people forget how absurd big law is. Like if you watch shark tank, you'll see a company that sold $800,000 worth of baguettes on a food truck and be like "oh wow they're really crushing it why am I so dumb toiling away turning docs!"
Meanwhile, your billables for the year are probably $1 million as a midlevel. |
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Date: August 19th, 2018 11:11 PM Author: purple federal idiot university Your billables -okay
your take home - far from that
Your billables are simply what your pimp sells you for |
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Date: August 19th, 2018 1:45 PM Author: Plum Concupiscible Casino Organic Girlfriend BD skill correlates with phenotype and family background/Jewishness. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36643824) |
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Date: August 19th, 2018 11:12 PM Author: purple federal idiot university lol (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36646442) |
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Date: August 19th, 2018 11:15 PM Author: comical sandwich Nah you canake 3mil as a boomer 900k as genx or 500k as a millennial. In nyc of course. (http://www.autoadmit.com/thread.php?thread_id=4055355&forum_id=2#36646458) |