Reply to I don’t know a single person making 7 figures

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m a law firm equity partner in DC. Our firm has around 50 equity partners, and over 1/3 of us make over $1M. We are far from the biggest or most profitable firm in DC. And there are so many firms. If you don’t know DC big law, you don’t understand how many well paid partners there are. And yes as PP notes that’s not the only industry people make big money, but it’s a significant factor in DC. [/quote]

+1. Bingo.  People blindly think that tech is where the money is.  It is not, it is high paid lawyers who are outstanding at what they do, and have equity in their firm.  If you you are a lawyer, but not great at what you do (and therefore you have no equity) you are SOL.

OP, where do you live? In certain communities, inevitably everyone is high paid. [/quote]

This is a silly comment.  How many lawyers are on the list of the 500 richest people in this country?  Now, how many tech people are on that list...and how many are in the top 10.

As far as I can tell, only Peter Angeles (former owner of the Baltimore Orioles) makes the list for actually practicing law, and it was as a plaintiff's attorney settling asbestos litigation.  Likely, the $2BN of his net worth was mostly his ownership of the Orioles, and not from law.

The other Top 10 highest net worth lawyers all made it from something non-law and again the richest ones are plaintiff's attorneys which is not BigLaw...though I guess Judge Judy is practicing law, but does that count?

I don't fault anyone for making $1-$3MM a year as a lawyer, but I don't know any lawyer that thinks they are remotely in the same league as a P/E partner or Hedge Fund partner or a VC partner or a tech founder that is worth anywhere from 1000x to 1000000x their net worth.[/quote]

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