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Old 03-23-2012, 03:53 PM   #5
alphawhiskey
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Join Date: Jul 2008
Location: Tango
Posts: 18
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Quote:
Originally Posted by FadeToblack View Post
I often wonder if that many lawyers are needed? Do they make as much money as people think they do? I mean how much money is there to go around if there is an office on every corner...
big law firms pay starting associates around 160 (anywhere from 120-160+).
Probably can make up to 250-300k as a 5th year + associate.

You don't start making the big bucks until you reach partner, and profits per partner vary for the different firms out there. If you go to the #1 firm like Wachtell Lipton, it's around $5 million per year per full equity partner.

However, these are only the top firms and making full equity partner is becoming increasingly rare. Plus, your life will suck for about 10 years being on-call virtually all day and on weekends, and working to midnight or later and taking work home.

The top 20 firms all have PPP around $1million, with the top 5 having several million.

Some mid-level firms pay out at 160 or around there, but their PPP is 500k and under.

Public sector, nonprofit, etc. starve.

I wouldn't worry as much about pay, but more about whether or not you love the reasoning and logic of the law. It's different, and perverted at times. YOu have to be able to do this 24/7 for the rest of your life. If you are doing it for money, you just ruined your life. YOu have to love it.

you can google any Supreme Court opinion, and read through it. If you can't get through it with ease, then don't bother with law school. You will be reading cases all day long.
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