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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How much money does a typical Biglaw partner in a top 10 or 20 law firm in DC bring home in a month?   I keep asking and nobody tells me.  Am I right that it’s like $200,000 a month?[/quote]

It doesn't work that way. Assuming you are just looking at equity partners (many firms have non-equity partners who are paid more like associates or counsel), it varies dramatically by firm. In the top 20 AmLaw firms, profits per equity partner can range from 1.1m to 7.1m. Per partner draw will loosely track this, but firms have a variety of ways for determining partner compensation, and at a given firm the actually annual draw could be well above or below that depending on whether the partner is a major rainmaker, very senior or junior, etc. Most firms have a compensation committee that makes these determinations and it's one of the most political processes at a law firm.

And then, of course, law firm profits can vary at these firms as well, and that will impact annual draw. Add to that that many firms issue draws on a quarterly basis, instead of monthly. Also, new partners must purchase their equity in the firm and that will impact your draw as well. So the "typical" monthly income of a BigLaw partner in DC can vary quite a bit. If you asked me what I think the annual income of a certain kind of partner at a specific firm was, I could probably ballpark it for you. But I can't tell you what the typical salary is for partners across a pretty wide range of firms without knowing anything about that partner or the firm they are with. The range would be huge.[/quote]

I’m at the DC office of NY biglaw.  I make about $4m (and should make in the $4m-$5m range for the next 3-5 years). I get a monthly draw of about $40k, and quarterly distributions to cover estimated taxes. Then profit distribs when the firm has the cash to pay them. So it’s not like a fixed salary per month (except for the monthly draw).  The biggest months are Nov and Dec.  In total I clear about 50% of the gross (so $2m), after retirement plan contributions.   So averaged out that’s like $167,000 per month net.

And I work a lot.  60 hours per week, every week, between billables, client development, admin, travel. When I’m not working I’m spending time with kids and wife.  I make almost all BTS, weekend sports, most weekday sports, but I have NO PERSONAL HOBBIES or free time. But that’s the choice I made.

I’m 50 and a set to retire at 54 with about $15m.  College is paid for (3 kids, oldest is 16).  Mortgage on primary home. One investment property.  [/quote]
Does your spouse work? What's the divorce rate among your peers?[/quote]

Spouse works FT.  She's a rockstar and handles 90% of the logistics.  I plan vacations, go grocery shopping on weekends, take oeldest child to college visits, and do the things I mentioned above.  Maybe one weekday night out per 3 weeks (I work once the kids are down for the night).  It is hard, but my wife and I are driven and don't believe in idle time.  We also grew up LMC and don't see the point in/don't have the luxury to relax.  We'll do that eventually. Our kids see the value and benefits of hard work, and accept that I have to squeeze in calls so that I can make their games, drop them off, etc.  [b]Eldest was talking to a friend once when I was on a call in the car, and said something like "yes, he has to take calls, but he's always around.  Other parents can only take vacation at certain times or can't drop off at practice.  My dad can be more flexible like that."   [/b]

DK about divorce rate at my firm, and don't care.  Life is a canvas, so I don't live by other people's rules (but I am not a jerk either).  When partners at my firm retire, we somethimes have a dinner for them and their families come.  100% of the retired partners apologize for missing time with their families.  No thanks.  [/quote]

Your kid has no way of knowing that and it’s very obvious that if he actually said that - which is probably fictional - he’s simply parroting what you’ve told him to make you both feel better.  [/quote]

It happened. Live with it.  [/quote]

I believe it. It's crazy what other kids know about their friends' parents lives. I have heard DD talk about friends' parents affairs, weird post-divorce co-parenting dynamics, parents yelling all the time, how much time their parents spend on Facebook, etc. And yes, parents who work so much they don't see their kids much. Of course, PP's kid doesn't know what she doesn't know. She's comparing her home life to even busier home lives. Maybe he or she would be happier with one parent staying home, or two parents with 40 hour/week jobs, or whatever. [/quote]

They were comparing me - more often present for vacations/games/drop offs bc WFH but some of that time im on calls - with a friend’s dad who is less present due to inflexible work but is 100% available when present.  They weren’t judging, just comparing.  Which is how we raise our kids - different things aren’t necessarily better or worse in an absolute sense, so figure out yourself and what works for you.  The fact that these kids see so many options is setting them up for success because they will have choices.  When I grew up, husbands worked at an office or a factory or a coal mine and came home exhausted and never helped out and took one vacation a year, and wives stayed home and did all the family logistics, etc.  Out kids are seeing different options. Not better or worse.  [/quote]

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