Reply to If you left biglaw as an associate

Forum Index » Money and Finances

Reply to "If you left biglaw as an associate"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm a 5th year. I have a net worth of around $0. My student loan balance is barely better than when I graduated, but my house equity + retirement is now worth more than my debt, so at least I have that.

So no, no "significant net worth." I'm trying to leave now but my offers have been too low to swallow. [/quote]

I'm not in Law at all.  Curious what someone at your level makes (salary + bonus) and how much debt you started off with.  Have a kid who wants to be a lawyer but the picture you paint seems scary.[/quote]

NP -- these days a 5th yr has to be around 300k or close to it (my guess -- I left a few yrs ago before the latest round of raises). I'm more curious about the debt -- how much did you start with that you've barely made a dent in 5 years? And is it low interest debt? I imagine the max amount of debt anyone could have would be around 500k -- at 70k/yr for 4 yrs undergrad + 3 law assuming you went private for all of it and didn't receive a single $ of grant money or parental help.[/quote]

I haven't made more progress because 1) had kids 2) live in DC metro area with that COL 3) didn't focus on paying down debt but instead max out tax-advantaged retirement and bought a house. I have a bunch of friends/classmates who chose otherwise and threw every available penny at debt. They also have a similar net worth (so no house, almost no retirement, but almost no debt). [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics