Reply to Biglaw partnership: generational shift or misinformation?

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[quote=Anonymous][quote=Anonymous]I would rather been in a family with two in-house/financial regulatory attorneys make $200-$300k each working 40-50 hours rather than 1 SAHP and a big law partner working 80 hours a week for $800k - $1.x million.  At least with the former, you can have a life, stay relatively in shape, and be with your kids.  But I guess you would need to get lucky in having each adult in a career where you can make $200k + a year at 40 hours a week.[/quote]

I think this is the correct calculus.  One caveat is that if you have the chance to make more than $1m in biglaw, you might want to go for it.  It is a very narrow set of circumstances, but like anything in life you have to play the odds.  There are some speciallties at some types of firms where you can make pretty big bucks (like $2M+) with some job security due to the speciality that it might be worth the effort.  The downside is you have very little support, and since you are a specialist you are measured solely by what you bill vs what you generate, so you had better be clocking in billables and there is no sitting back watching the leverage.  But like I said, it is a choice.

The other thing that I am seeing more and more at the partner ranks at places like this is early retirement.  Younger partners just aren't that interested in working for 30 years as a partner for the retirement payout or the extra cash.  People are living less lavish lifestyles and socking more away, then stepping away.  I have 3 years before I hit my number (hopefully) and will walk away, just like a few people ahead of me already did  THAT is shocking to the older partners, who cannot conceive of NOT being in the partnership every day.

To each thier own.  I used to care about the prestige, but no one cares where you work or how much you earn.  But your family cares when you are not around.  So do what works for you.    [/quote]

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