Lawyer Salary

Originally Posted by Unregistered

How much can the average small-firm or chinatown lawyer doing general liti and some basic corp work make every month?

I'm observing a trend where a fair number of my friends who are in mid size or large firms leave to set up their own small shops. Is it really that worthwhile to forego the potential progression in a larger firm to set up your own firm?

Didn't someone here do the math before?

1x miti plea - $3k
1x miti plea per week - $12k per month
office rental in chinatown - $2k per month

if you don't have a seccy and dont employ anyone else and not including insurance and pc fee, you net $10k per month for showing your face in ct once a week

downside is u cant beo ur chio colleagues and ur taste for the finer things in life get degraded very significantly after a while

Originally Posted by Unregistered

Didn't someone here do the math before?

1x miti plea - $3k
1x miti plea per week - $12k per month
office rental in chinatown - $2k per month

if you don't have a seccy and dont employ anyone else and not including insurance and pc fee, you net $10k per month for showing your face in ct once a week

downside is u cant beo ur chio colleagues and ur taste for the finer things in life get degraded very significantly after a while

Yeah I think even small time Chinatown lawyer chao chao around $15k per month after expenses. I know for a fact because my friends ~6-7PQE on profit sharing with their senior chinatown bosses can pull around that in take home, on average.

Question is whether this path is worthwhile to forego the chance of rising to EP at a larger firm? WLB should be quite good, but revenue is capped. Basically, you're like a neighbourhood GP who foregoes a chance to be a private practice specialist in Mount E or Gleneagles.

Originally Posted by Unregistered

Yeah I think even small time Chinatown lawyer chao chao around $15k per month after expenses. I know for a fact because my friends ~6-7PQE on profit sharing with their senior chinatown bosses can pull around that in take home, on average.

Question is whether this path is worthwhile to forego the chance of rising to EP at a larger firm? WLB should be quite good, but revenue is capped. Basically, you're like a neighbourhood GP who foregoes a chance to be a private practice specialist in Mount E or Gleneagles.

Nt rly fair comparison la. Revenue also not capped. Nobody stopping u from doing 1x miti plea a day.

$3k x 20 weekdays a month is $60k per month before overheads etc. Next time more senior liao ur miti plea become $5k.

Originally Posted by Unregistered

Nt rly fair comparison la. Revenue also not capped. Nobody stopping u from doing 1x miti plea a day.

$3k x 20 weekdays a month is $60k per month before overheads etc. Next time more senior liao ur miti plea become $5k.

Yeah but the b4 sweatshops have 100s of lawyers doing this for the Partners/EPs. Say each EP has 3 partners who have 3 SAs who have 2As each, you're looking at a heck of a lot more, since you pay peanuts till EP level.

Anyone has any experience dating lawyers? Care to share some of your encounters?

Originally Posted by Unregistered

Anyone has any experience dating lawyers? Care to share some of your encounters?

Best to stay away. None are marriage material.

Originally Posted by Unregistered

Best to stay away. None are marriage material.

The females have very strong personalities. Some act sweet but are lions

Originally Posted by Unregistered

Best to stay away. None are marriage material.

You should have given this advice 5 years ago. Would have saved me much grief

Originally Posted by Unregistered

Yeah I think even small time Chinatown lawyer chao chao around $15k per month after expenses. I know for a fact because my friends ~6-7PQE on profit sharing with their senior chinatown bosses can pull around that in take home, on average.

Question is whether this path is worthwhile to forego the chance of rising to EP at a larger firm? WLB should be quite good, but revenue is capped. Basically, you're like a neighbourhood GP who foregoes a chance to be a private practice specialist in Mount E or Gleneagles.

Assuming you’re in the b4, isn’t the 6-7PQE salary range at the 10-15k ballpark? The incentive I see in going down the path (profit sharing at a small size firm) is honestly just the autonomy over your time. Basically having being the employer instead of the employee, although you technically aren’t the employer per se.

Beyond the 7PQE mark, wouldn’t it make less sense to now transfer out of your b4 position, since you’ve stuck it out there for so long already? I would think you’ll probably be on track for partnership at that point.

Originally Posted by Unregistered

Assuming you’re in the b4, isn’t the 6-7PQE salary range at the 10-15k ballpark? The incentive I see in going down the path (profit sharing at a small size firm) is honestly just the autonomy over your time. Basically having being the employer instead of the employee, although you technically aren’t the employer per se.

Beyond the 7PQE mark, wouldn’t it make less sense to now transfer out of your b4 position, since you’ve stuck it out there for so long already? I would think you’ll probably be on track for partnership at that point.

Partnership is not guaranteed these days unlike the past.
There’s a new rank Of Counsel to complicate matters.