Lawyer Salary

How is law even worth it? Difficult bar exams, long route to qualify, uncertainty of retention as trainee, constant stress from clients and boss, long hours, no time for other things in life, pay isn’t high and justifiable either

Originally Posted by Unregistered

So low. Baker paralegals earn 9 to 10k and only expected to bill 40hrs a mth. Dawgfirm

And u will be surprised. This is not even a Chinatown firm

Originally Posted by Unregistered

How is law even worth it? Difficult bar exams, long route to qualify, uncertainty of retention as trainee, constant stress from clients and boss, long hours, no time for other things in life, pay isn’t high and justifiable either

Ever heard the word “prestige”?

Originally Posted by Unregistered

How is law even worth it? Difficult bar exams, long route to qualify, uncertainty of retention as trainee, constant stress from clients and boss, long hours, no time for other things in life, pay isn’t high and justifiable either

I am the OP on the earlier post on the dwindling share of the pie.

Law is not worth it. It was worth it if you qualified at least 10 to 15 years ago. Any time later than 2010 and it is not worth it.

Now we have a glut of lawyers, stringent Part B, longer TCs, less of the pie than ever. You likely will only ever be middle class.

You either live with it or quit.

Originally Posted by Unregistered

Ever heard the word “prestige”?

A salary of 10-30K is what most lawyers end up earning if they stay in practice.

Prestige but no money = no talk. But you will forever be at your client's beck and call.

Unless you make EP or more but the road to EP these days is very, very difficult because you'll likely only get small scraps of the pie.

Originally Posted by Unregistered

I am the OP on the earlier post on the dwindling share of the pie.

Law is not worth it. It was worth it if you qualified at least 10 to 15 years ago. Any time later than 2010 and it is not worth it.

Now we have a glut of lawyers, stringent Part B, longer TCs, less of the pie than ever. You likely will only ever be middle class.

You either live with it or quit.

What careers are worth?

Originally Posted by Unregistered

A salary of 10-30K is what most lawyers end up earning if they stay in practice.

Prestige but no money = no talk. But you will forever be at your client's beck and call.

Unless you make EP or more but the road to EP these days is very, very difficult because you'll likely only get small scraps of the pie.

If you want a decent salary, law is okay.

But if you ever want to be the client and not the service provider i.e. rich, above 50K a month, law is no longer a good path.

Originally Posted by Unregistered

What careers are worth?

The careers that are not worth if you want to be rich:

1. Lawyer: you will end up middle class or upper middle. You will spend every waking hour at the beck and call of clients. You will draw a salary equivalent to IT directors with no qualifications.

2. Auditor: Don't bother aiming for partner. The partner interviews are one-shot, you will only ever get that chance after at least 10 years of 9 to 5am.

3. Government roles unless you are superscale

The careers that are worth it:

1. Investment banking: 10+K with cash-raining bonuses to millions and millions

2. Private equity: millions and millions

3. Doctor: 15k to 500K a month (at the top). But the median doctors still outearn median lawyers by a mile.

4. Dentist: 30K a month

5. Management consultant: Maybe

6. Hedge fund manager

7. Tech-related roles.

8. CEO of your father's company.

The careers that you either make or break:

1. Start your own business. Chance of making millions and millions which most lawyers will never see in a lifetime or going bankrupt

2. Trader.

Originally Posted by Unregistered

The careers that are not worth if you want to be rich:

1. Lawyer: you will end up middle class or upper middle. You will spend every waking hour at the beck and call of clients. You will draw a salary equivalent to IT directors with no qualifications.

2. Auditor: Don't bother aiming for partner. The partner interviews are one-shot, you will only ever get that chance after at least 10 years of 9 to 5am.

3. Government roles unless you are superscale

The careers that are worth it:

1. Investment banking: 10+K with cash-raining bonuses to millions and millions

2. Private equity: millions and millions

3. Doctor: 15k to 500K a month (at the top). But the median doctors still outearn median lawyers by a mile.

4. Dentist: 30K a month

5. Management consultant: Maybe

6. Hedge fund manager

7. Tech-related roles.

8. CEO of your father's company.

The careers that you either make or break:

1. Start your own business. Chance of making millions and millions which most lawyers will never see in a lifetime or going bankrupt

2. Trader.

Barring 3,4,5 & 7 under the worth it jobs, the rest are too rare to even bother realistically getting a shot at

How long for a Chinatown Assoc to reach 10k?