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]I'm sorry. I'm new to how lawyers get paid. They don't create anything. Why are new lawyers getting paid $850,000 a year and complaining about it? I don't feel like they're creating anything of value. These kind of salaries seem like a tax on the people that actually do things and create things. This entire discussion reads like a bunch of parasites discussing their next victim. A completely BS profession.  [/quote]

She’s not a new lawyer but a new partner.  And may have 300K in educational debt.  Plus 850 is not her salary.  If you, for instance, are a normal emlpllyee making 100K salary, your full roll up is probably more like 160 with employer side taxes and benefits.  Plus she needs to pay into the capital account at her firm.  So 850 as a law firm partner is more like 600 or so as an employee at a normal place.  But I agree law firm partners are ridiculously overcompensated in many places.  And NYC is ridiculously expensive for anyone.  Both things are true.[/quote]

Law firm partners are not nearly as overpaid as the bankers. [/quote] Who are not nearly as overpaid as actors or professional ball players. It is a market economy dude[/quote]

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