Congratulations! What a nice Thanksgiving!

First, congratulations because I know making partner in biglaw is a very big deal.

But I do feel for people who have to work for billable hours. So often that entails running up unnecessary hours at the clients expense to reach those hours leading cases to go on forever.

Okay, let's address the elephant in the room - I'm envious.

That said, also impressed.

Congratulations! You were probably already thankful you chose a career you clearly excel in; this is a wonderful extension of what you've already achieved!

Have an extra slice of pie

Anonymous wrote:I lateraled to biglaw from a midlaw firm two years ago, just as I was about to be voted on as partner at that firm. I found out the other day that the policy committee unanimously voted me in, so at this point it's effectively a done deal.

Surreal feeling, particularly since when I graduated in the mid-2000s, I was jobless, had zero prospects and held a number of really horrible jobs at total shit firms.

AMA, I guess?

Congrats. I was just thinking how different it was an 8-10 years ago, when everyone was getting laid off at the holidays because of the recession.

Enjoy. Congrats. And stay grateful.

Congrats! Advice from experience- with big promotions, bonuses, etc. do something for your spouse to celebrate how much they have supported you, helped behind the scenes.

Fitting to announce this "more pie" news on Thanksgiving.

Congrats! Good job! Happy Thanksgiving to you!

Anonymous wrote:We live in SS, in a shitshack with a very nice addition. No plans to move, but may eventually move to be closer to DW's job. In any event, the move probably wouldn't be much of an upgrade. I'm not interested in increasing our living standards - law is pretty cutthroat and I assume I could be unemployed next year. Save, save, save.

Congratulations and smart move, at least for the next couple of years as you become accustomed to the weight of your new partner status. Save your money, build your book, but don't neglect your young family. If you fall into the trap of networking all the time (like your new partners are likely doing), you'll then try to make up for it by buying conveniences to substitute for your efforts on the home front. Your wife will start resenting your absence, even though you'll think that you're doing everything needed to keep things on an even keel. She married YOU, not a law firm partner.

And one more thing, don't forget about your health. Another 10-15 pounds will easily catch up to you, along with high blood pressure (stress) and higher cholesterol.

DW has a think tank-type job - makes about $90k, 35 hour workweek. Most importantly, though, she gets a 9% 401(k) match (as opposed to the generous 0 match in biglaw), and health insurance that costs about $300/mo for the family (compared with the $2500/mo partners have to pay for a family health plan).

We have a 3 year old, and another on the way.

Take home will likely be roughly the same as this year. However, that is after accounting for a mandatory $3k I apparently will have to contribute to a retirement plan (I still get to contribute to the 401(k) too), paying 100% of employment taxes, and the buy-in (which will be pretty low because I will own a very, very small percentage of the firm).

A colleague who got put up last year said his take-home was about flat, but his wife doesn't work so he has to pay the exorbitant healthcare costs. I'm hoping my take-home actually goes up a little bit, but we shall see.

We live in SS, in a shitshack with a very nice addition. No plans to move, but may eventually move to be closer to DW's job. In any event, the move probably wouldn't be much of an upgrade. I'm not interested in increasing our living standards - law is pretty cutthroat and I assume I could be unemployed next year. Save, save, save.

Anonymous wrote:Big congrats!

If you have spouse and kids...What does your spouse do for work? Do you have kids?

Is your take home salary less now bc you have to pay into the partnership?

Sorry i meant to ask how old are your kids?
And where do you live generally and do you plan on staying or upgrading?

Big congrats!

If you have spouse and kids...What does your spouse do for work? Do you have kids?

Is your take home salary less now bc you have to pay into the partnership?

Thanks for the congrats! I'm definitely thankful.

My billable hour requirement goes down, but only by 100 hours/yr (from 1950 to 1850). This is to account for business development activities.

I think I need to also have a business plan each year. I am going to be a service partner for the foreseeable future - the partner who put me up is a major rainmaker, and I will hopefully inherit some clients when he winds down.

Congrats!

Serious question from non-lawyer - does this mean you have a reduced day to day workload and that you focus more on networking for the firm?

No questions. Just congratulations. I hope this is the culmination of all that you have worked for.

You really have something to give thanks for today.

I lateraled to biglaw from a midlaw firm two years ago, just as I was about to be voted on as partner at that firm. I found out the other day that the policy committee unanimously voted me in, so at this point it's effectively a done deal.

Surreal feeling, particularly since when I graduated in the mid-2000s, I was jobless, had zero prospects and held a number of really horrible jobs at total shit firms.

AMA, I guess?