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07.14.08, 13:41 PM NY Schools
28 replies
Calling all lawyers. Not everybody can become partner (I assume that is the goal for most working at big firms). If you don't make it what are your career options? [ Reply | Watch | Flag ]
NY Schools 07.14.08, 01:41 PM Flag
 

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Non-equity partner, Counsel, in-house at another type of company [ Reply | More
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General Topics 07.14.08, 01:42 PM Flag
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They can go down the run to a lower string firm, maybe make partner there but the $ will suck. They can also make a lateral move on to the client side, also not very lucrative. This is the myth that all lawyers make big bucks, most of them are terminally upper middle class [ Reply | More
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General Topics 07.14.08, 01:43 PM Flag
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My GF dh did this path its common. They had to move out of the city in order to deal [ Reply | More
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General Topics 07.14.08, 01:45 PM Flag
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1 out of 60 at BigLaw will make partner, so the odds are bad. [ Reply | More
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General Topics 07.14.08, 01:45 PM Flag
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wow, upper middle class... so sad (sorry, my dh's a lawyer, only an assoc but on partner track, who knows if he'll make it, but I do know that we're incredibly fortunate compared to many) [ Reply | More
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General Topics 07.14.08, 01:48 PM Flag
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Meant middle class [ Reply | More
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General Topics 07.14.08, 01:49 PM Flag
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ok, but still. Most lawyers in NYC (at corp firms) make mid-six figures when they're above the first few years. Even at small firms they make solid 200K or more... that is nowhere near poor [ Reply | More
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General Topics 07.14.08, 01:50 PM Flag
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Never said poor but 200K in NYC with private schools and RE is not poor but it is not rolling in it. Just pointing out that law jobs are not really a windfall of $$. [ Reply | More
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General Topics 07.14.08, 01:52 PM Flag
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no, they aren't, but its still a lot of $$. [ Reply | More
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General Topics 07.14.08, 01:54 PM Flag
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Ok! [ Reply | More
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General Topics 07.14.08, 01:56 PM Flag
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Not for the number of hours they are expected to put in. [ Reply | More
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General Topics 07.14.08, 04:46 PM Flag
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I don't think this is right - mid six figures after a few years - no. My husband is a partner at big law and just sticking his toe in mid six figures the year before he made partner and all big firms in the city pay pretty much the same. [ Reply | More
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General Topics 07.14.08, 01:56 PM Flag
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mid 6 figures by 6-7 year (with bonus), which isn't much time of working. when you're partner much more of course [ Reply | More
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General Topics 07.14.08, 01:57 PM Flag
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Even partners though at piddly firms are still only making 400K not enough to support a family of five [ Reply | More
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General Topics 07.14.08, 02:01 PM Flag
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wow, my parents managed to support us (6 children) only 1/4 of that. [ Reply | More
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General Topics 07.14.08, 02:01 PM Flag
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well gee, then maybe only have 2 kids and dw gets to work too. we support a family of 4 on under $300K. Get over it. [ Reply | More
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General Topics 07.14.08, 02:04 PM Flag
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NP - Not true. DH and I are both newish biglaw partners and neither of us made more than $350-375 until we became partners. Still below $1m each. [ Reply | More
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General Topics 07.14.08, 02:01 PM Flag
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oh well. my dh is a biglaw assoc. (5th year) making that before bonus [ Reply | More
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General Topics 07.14.08, 02:03 PM Flag
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That is complete crap. Either he's at a boutique (not biglaw) or Wachtell (not biglaw) or you are lying (most likely). [ Reply | More
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General Topics 07.14.08, 02:04 PM Flag
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None of the above, but I did misread the post- He makes above 250-275 before bonus [ Reply | More
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General Topics 07.14.08, 02:07 PM Flag
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^^^ my eyes are so tired by 5pm! [ Reply | More
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General Topics 07.14.08, 02:08 PM Flag
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Oops. Sorry for jumping down your throat. Yep, your numbers sound right. [ Reply | More
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General Topics 07.14.08, 02:08 PM Flag
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no problem. And we live in NYC and are very comfortable, but only 1dc (and 1 dog) yet! [ Reply | More
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General Topics 07.14.08, 02:09 PM Flag
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I think there are many who go to big law wo any intention of staying to make partner - they go to make $$ for a few years to pay off loans and then go in-house, to smaller and/or specialized firms, govt work, non-legal work, non-profit law, etc. [ Reply | More
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General Topics 07.14.08, 01:57 PM Flag
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yep... thats my dh's plan... wants to go to a boutique firm after 4-5 years [ Reply | More
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General Topics 07.14.08, 02:11 PM Flag
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You don't have to be partner to make money in law. If you are a general counsel at regular company the money is great and hours much more sane. Not so easy to get there, but probably similar shots to making a partner at biglaw. [ Reply | More
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General Topics 07.14.08, 02:17 PM Flag
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general counsels make less than biglaw partners - and yes it is very tough to get that one coveted position - you have to be very senior. Where at a firm 8 years you're a partner making nice money $1m [ Reply | More
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General Topics 07.14.08, 03:14 PM Flag
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Our GC counsel makes more than that, not in salary but with stock grants and bonuses for sure. And he is not that old either. [ Reply | More
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General Topics 07.14.08, 04:49 PM Flag
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