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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm going to go against the grain on this thread and say prestige is for the birds. I know DCUM is obsessed with it but you can have a completely lucrative career having gone to a public law school. The vast majority of lawyers in this country are not employed at big law and did not attend a top 10 law school.

In fact, most of the attys that I know who started up their own firms and now make $$$ went to public, no name schools. DCUM is a weird place for advice because it slants in one direction only - private, prestigious, big law, money, did I say prestige? In truth, there a multitude of avenues for success.

I went to a public, not highly ranked school[b]. I started up my own practice because I wanted more freedom to raise my kids. I don't make big law money but at $400-500K, I'm doing just fine in a dual income home. [/b]

There are lots of ways to make a living in law, OP, more than gov't and big law. Chances are when your DC gets to law school interests will change. [/quote]
This is really good. Is that your net? What practice area? Are you a solo? Any employees or associates? Any office overhead? ~~Another Lawyer[/quote]

The range is gross. At October, my YTD gross is about $420K. I expect to hit about $455/470 by end of this year (gross) with $425-ish net. I'm 100% virtual so my overhead is about $30K per year. It's very low so I keep roughly 90% of what I bring in.  This does not include my taxes (obv) just office expenses (e.g., virtual lease, softwares, supplies, some 1099 work, cc fees). I have one contractor who works on an as needed basis but otherwise I'm a true solo. I don't have the bandwidth for a full office with employees due to kids/family, though have been approached by other firms re: mergers. I'm just not interested. I'm in employment based immigration and have been doing this over a decade. [b]Year 1, I made $20K so it was a steady climb. [/b][/quote]
PP here -- this is impressive. What kind of marketing did you do to make the steady climb? I would love to do this but don't think I currently have the portable book to make it more profitable than what I'm doing now, unless perhaps I took on my own contract work. What % do you pay your contractor? Sorry to derail the thread, but it does show OP that there is more than Big Law and Gov Law. [/quote]

I pay the contractor a flat fee per project. She has given me a fee schedule per case. Because of the type of work we do, it's usually flat fee. However, I don't send out work that often - maybe a few a year. I don't do any marketing now. It's all client referral. The first few years, I tried marketing via online sources that yielded little. The key to solo practice is sticking in the game because it takes a while for the referral pipeline to build up. Salaries were Y1 $20K (but I started mid-year); Y2 $65K; Y3 $80; Y5 $111 Y6$132....Y10 $320K....Y12 $425(est). There are big bumps in some years because I gained large corp clients in some years, or COVID. I'm anticipating that I will level off, or have to hire someone bc I'm at max of what solo can handle.

And yes, there's so much more to law than just the govt & big law discussion. 80% of the attys that I know do something similar to what I'm doing. Maybe it's because I didn't start out in DC metro. Anyway, solo, small to mid size firms should not be overlooked. I have been at home virtually working for past 10 years. I've raised my kids and controlled my own time. I don't think that I'm missed out too much career ways because law is so flexible. Just something to think about, OP.  [/quote]
So you opened a solo practice straight out of law school?  No prior legal experience?  Did you have loans?  What year was this?[/quote]

No, I worked for a firm where I gained experience in my field of expertise for about 2 years. I did not start my firm with a book of business, though, as I'd left to have a baby. Yes, I had loans - about $80K. It was 2011. In the first few years, I had to do contract work on the side to supplement income until I got to a level where my practice was making enough to support me. [/quote]
Ok.  So your anecdote is completely dependent on law grads finding an entry level position to learn the trade.  Pretty much no one opens a solo practice straight out of law school.  The risk of a lower tier school is never finding that entry level job.  [/quote]

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