Reply to NYC law partner w/ kids: "$850K gross is not enough to live on"

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Reply to "NYC law partner w/ kids: "$850K gross is not enough to live on""

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Main Line and Westchester are not much comparison. Philadelphia is a very poor city. It has so much history and good food but the people are so provincial and often don't leave the state ever. The politics of the state are ridiculous and stuck in the 1800s. [/quote]

yep. Not at all the density of high-powered legal jobs as NYC. so it’s not really a comparison for most NYC partners, except in that if they believe they are “poor” in NYC then yes, maybe they need to trade some of the prestige and money of NYC for something slower paced. I went to law school in NYC and practiced in Philly at the beginning of my career and the cool thing is that most of my cohort went on to do a broad variety of interesting stuff in/around Philly (small firms, legal aid, DA, AG, opened own non-law businesses) specifically because Philly is so much more affordable and you are not locked into the law firm track the way you are in NYC. [/quote]

Exactly. No one is arguing Philly is more exciting or even overall better. [b]But it is better not to live in a shoebox and shoehorning three kids into a tiny space so you can brag about being a New Yorker[/b]. Go look at Rittenhouse if you want an urban neighborhood in Philly. [/quote]

+10000. The people who insist on doing this are insufferable.

They also are typically lifelong renters. [/quote]

Yep. You need to have family money, be in finance, or be an entrepreneur to live the life the redditor wants. Being a non-rainmaker partner doesn’t cut it and their NW will be a fraction of what it would be if they lived in the suburbs or a lower cost of living metro. [/quote]

Again - the density of law and finance jobs cannot be paralleled in other cities. People move to NYC because they want the NYC lifestyle- which yes, includes less square footage but much much more to do outside of the home and higher power work. If you don’t want that then don’t move there, but don’t delude yourself into thinking New Yorkers are crying themselves to sleep over your McMansion. [/quote]

No one is arguing that the density of jobs (in almost any industry) is higher in Manhattan than elsewhere. Anyone with the ability to do decently well in law or finance in NYC has the ability to plan and execute on a law or finance career in a less financially constraining locale. The Redditor could have targeted Chicago, Boston, and DC, all have robust big law markets. That does not even include satellite offices that pay well.

Not everyone trades square footage to live in Manhattan. Rich people have 4,000+ SF apartments the same size of what they would have if they live in the suburbs. The Redditor isn't rich, and that is the problem here. The Redditor will most likely never be rich on this trajectory, as in buy a 4BR condo and send his three children to private school while growing a nest egg commensurate with a 800k income.  I hope access to artisanal niche sushi at 3am was worth the sacrifice, along with the symphony performances he has not been to in six years.

I don't live in a McMansion or in Philly. [/quote]

The redditor IS rich wtf. Stop it. (Also she’s a woman.) [/quote]

If you cannot afford a bedroom for each of your children then you are not rich. [/quote]

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