Disagree. For the amount of work they do, I would argue that most law firms are getting a good deal on their junior associates. Where else would you find a bunch of young people willing to put their lives on hold for 2 to 3 years for a starting pay of 5-6k?

On the other hand, I think IB is grossly overpaid. How does it make economic sense to pay a starting salary upwards of 12 to 15k? In which universe, from an economic perspective, is a 24 year old actually worth that amount?