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Money and Finances
Reply to "50% of my compensation is paid at the end of the year."
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]As you see you really have to get a year ahead of this. We saved during our senior associate years to blunt the effect of first year partner comp. New partners who go on spending sprees their first year feel like they never recover. [/quote] that is great advice but easier said than done. [/quote] It is hard to have it both ways. The only way I know to avoid feeling behind is to get ahead. Everyone on partnership track (in any profession) should know what partner comp actually looks like and its costs. These same associates have been earning top dollar for 6, 8, 10 years. If you're surprised that your money runs short your first year as a partner then you're not as smart you thought because you did not prepare for what was known to be coming. [/quote]
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