This is true over time but isn't usually true for the early partnership years. Once you reach a certain point, your ability to bring in and maintain business is what matters. You don't have to be doing nearly all the work yourself. |
Pp here. If it’s so hard to believe, I just don’t think you know that many big law partners. Or at least equity partners. DH works hard but if he wants to be home for dinner, he can be home for dinner. Same is true for every other equity partner we know. |
| There will always be exceptions to the workaholic, absent BigLaw spouse--like PP's. But there's a reason that lawyers are some of the most stressed and unhealthy professionals in the US and have such high rates of alcoholism. |
Ok, and what about the 15+ years before now, when he was an associate or non-equity partner? You're glossing over the 70 hour weeks, all-nighters and travel required for years to get to that point. No BigLaw partner just coasts along working 40 hours per week until they make equity. |
I know dozens of partners who live like this. The catch is that they work more when they get home, after dinner. |
I retired early as a Biglaw equity partner. I do know what I’m talking about. I’m not saying he had to work per se. I’m saying he had to have had at least one client dinner he couldn’t get out of; a partner meeting or retreat he had to go to; a work-related trip that at least had him returning home late if not requiring an overnight; one unexpected emergency meeting or call. Etc. I also made it an extremely high priority to be home for dinner every night and I was in fact there on time for the vast majority of them. But to be home every night but one in six months? Nope. Not me and not any partner in my large law firm. |
PP again. He had 8 years as an associate, then straight to equity. First 3 years as an as associate were not terrible. Next 5 years involved some late nights but nothing like the exaggerated stories I hear on DCUM. He’s only been a partner for around 5 years and it’s consistently been better than the years he was a senior associate. My point is, many partners do not have miserable lives, as is often suggested here. As a general matter, people don’t get paid more for working harder or longer, as much as they do for providing something others can’t and being difficult to replace. Nurses probably work harder days than many big law partners, but the barrier to entry for nursing is not high (unlike law) and there’s no way economic reason for excellent nurses to be highly compensated. And blue collar workers? SO many work harder than law partners, but their skills are not unique, so the supply outstrips demand. I’m not saying it’s fair. It’s kind of not. But it’s how the world works, and it shouldn’t be shocking that LOTS of people with LOTS of money live relatively balanced lives. And LOTS of people with little money work two jobs and have pretty miserable lives just to be lower middle class. |
It can be anywhere from 50k to $1M a month. Probably the vast majority clustered around $100k-$200k. Pre-tax. |
This has to be sarcasm. If the worst thing you can think of for an example is having to drop and Orange Theory class, then no, it's not worse. It does sound like your friend was married to a jerk, but there are jerks in every profession. That has nothing to do with him being a Big Law partner. |
It’s nice having money. No wonder so many on DCUM are jealous of Biglaw partners and their spouses. |
| It's ulcer-inducing and horrific, in the cases I know personally. The two people I know ended up divorced, with kids who barely knew them, hating their jobs, working to retire early, then retired single and estranged from their children, after putting in time at a job they loathed. Money was GREAT but the actual life was...not great. I say this as someone who wishes I had more money a LOT but truly? Not in that field |
You are exaggerating out of jealousy. |
What field? This is not true in M&A/Venture at all. |
No my life is really easy. Spent the day by the pool while kids in school. OP asked what it was like. I gave some examples. If you are someone that wants your spouse home at 5:30, this isn’t the life for you. For me, it’s worked out great. But I’m introverted and don’t mind doing things on my own. Some people may find it lonely and frustrating. |
You might wish that were so, but no. The idea of being a cog in a soulless wheel, working all the time, sounds truly bleak. Love my creative career, flex hours, and fun lifestyle. Wish I had more money, but oh well. Happy most days. |