Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:So we all know the route to serious income is Big Law firms with their partner track
If you believe this you haven't lived in NY, CA or any money center throughout the world. I know a lot of sales people and even realtors who make more than big law partners.
Top tier professional incomes:
Biglaw partners: $5 million
Investment bankers: $50 million +
Tech and hedge fund executives: $100 million +
And biglaw partners are always bitching about the gap because they work every bit as hard, but they're essentially the hired help. For a smart and educated cohort, you would think that they would update their business model from charging $1k/hr for legal advice. That model is dying.
Divide these numbers by 5, and it is more representative. Point remains though.
Run of the mill investment bankers (advisors) do not make $50million. Traders maybe but not IB.
The numbers are for the top of the profession rather than a representative figure. It seems that if you made a faustian bargain to trade your youth, life, health, relationships with loved ones in exchange for money, the legal profession would not be even close to the best place where it would pay off to do this. I don't know how many biglaw folks servicing a-hole clients (i was one of these clients) for 80-100 hrs a week do it for the love of the law.
Seems like the IB/PE/Tech crowd wants to work hard to cash out and retire early while the lawyers match their lifestyle to their income and stay on the treadmill forever. Few amass enough to be able to stop working and continue to live as they've become accustomed to. Lawyers also tend to get trapped by the trappings of their profession.