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re: NY BIGLAW Salary Raise - $190K for 1st Years

Posted on 6/4/18 at 6:08 pm to
Posted by Pettifogger
Capitol Hill Autonomous Zone
Member since Feb 2012
79262 posts
Posted on 6/4/18 at 6:08 pm to
Houston and Chicago need to match so Atlanta will follow
Posted by Buckeye06
Member since Dec 2007
23133 posts
Posted on 6/4/18 at 6:12 pm to
Yea, $3500 will get you a pretty nice 1 BR, would need to spend 5k or so to get a reasonable 2 BR
Posted by member12
Bob's Country Bunker
Member since May 2008
32104 posts
Posted on 6/4/18 at 6:13 pm to
quote:

Seriously what kind of salary war when you have to hit 2400 billable hours per year?



That’s 400 more than me.
This post was edited on 6/4/18 at 6:14 pm
Posted by TH03
Mogadishu
Member since Dec 2008
171037 posts
Posted on 6/4/18 at 6:19 pm to
I mean I literally posted the average for NYC. Regardless, you’re missing the point.

If y’all want to just limit it to Manhattan, sure. It’s $5k. That’s still $66,000 left over for everything else.

The idea that $190k is peanuts in New York is retarded.
Posted by MobileJosh
On the go
Member since May 2018
1063 posts
Posted on 6/4/18 at 6:24 pm to
quote:

$190k is still a lot of money in New York. Your take home is probably about $126k. A 2 bedroom averages $3600 a month in the city. That leaves $82,800 for everything else.



Lmao
Posted by tigercross
Member since Feb 2008
4918 posts
Posted on 6/4/18 at 6:29 pm to
quote:

I mean I literally posted the average for NYC. Regardless, you’re missing the point. If y’all want to just limit it to Manhattan, sure. It’s $5k.


If you’re in the office until 10 p.m. you don’t really want to commute to Brooklyn. Plus a lot of the firms provide a car service for associates working late and the car service most likely isn’t leaving the island. The whole point of going to law school and getting a BigLaw job is so you don’t have to make everyday financial considerations like a normal person.

quote:

That’s still $66,000 left over for everything else.


What would you estimate is the average monthly student loan note for someone who went to the requisite undergrad and T14 law school for this job?
Posted by ThatMakesSense
Fort Lauderdale
Member since Aug 2015
14817 posts
Posted on 6/4/18 at 6:32 pm to
BigLaw is so tough. Working until 10 pm? Wowzers.

Does there include that 10, half hour breaks that are billable?

Yous know I need a sidewalk hawt dawg to stay awake.
Posted by MSTiger33
Member since Oct 2007
20389 posts
Posted on 6/4/18 at 6:32 pm to
Not every neighborhood is built equally. Enjoy that shitty walk up to a 2 bedroom.
Posted by Mo Jeaux
Member since Aug 2008
58936 posts
Posted on 6/4/18 at 6:33 pm to
quote:

If you’re in the office until 10 p.m. you don’t really want to commute to Brooklyn.


Depends on where in Brooklyn.

quote:

the car service most likely isn’t leaving the island.


This isn’t true.
This post was edited on 6/4/18 at 6:34 pm
Posted by MSTiger33
Member since Oct 2007
20389 posts
Posted on 6/4/18 at 6:36 pm to
What's a Brooklyn?
Posted by ThatMakesSense
Fort Lauderdale
Member since Aug 2015
14817 posts
Posted on 6/4/18 at 6:41 pm to
quote:

What's a Brooklyn?


It where broke lawyers live.
Posted by MSTiger33
Member since Oct 2007
20389 posts
Posted on 6/4/18 at 6:42 pm to
Posted by Teddy Ruxpin
Member since Oct 2006
39589 posts
Posted on 6/4/18 at 6:58 pm to
quote:


It’s a bubble.


It's funny how lawyers with jobs at these firms all without fail don't like to see raises.

For anyone who doesn't know why, it's because biglaw is really bad at raising salaries late in a cycle, so it's seen as a sign of a market correction and losing your job.

*A first year salary increase results in all current older attorneys getting a bump as well.
This post was edited on 6/4/18 at 7:00 pm
Posted by Teddy Ruxpin
Member since Oct 2006
39589 posts
Posted on 6/4/18 at 7:03 pm to
quote:

average


Probably a big key word when talking about a market like NYC where outer burroughs and shite holes can weigh the average down.

I wonder what the "average" price is in a location and livable quality a lawyer would actually want to live is.
This post was edited on 6/4/18 at 7:04 pm
Posted by athenslife101
Member since Feb 2013
18576 posts
Posted on 6/4/18 at 7:15 pm to
Hmm, it’s highly competitive. You aren’t just going to waltz into a position.

I knew a guy who got a 95k first year job in Atlanta and it was not an easy process
Posted by athenslife101
Member since Feb 2013
18576 posts
Posted on 6/4/18 at 7:17 pm to
I see positions in New York all the time for sub 50k. Most of those people live in Jersey and Long Island and they are perfectly content
Posted by The Torch
DFW The Dub
Member since Aug 2014
19355 posts
Posted on 6/4/18 at 7:19 pm to
quote:

would need to spend 5k or so to get a reasonable 2 BR


There goes 1/2 your 190K after taxes etc
Posted by Parmen
Member since Apr 2016
18317 posts
Posted on 6/4/18 at 7:22 pm to
quote:

The idea that $190k is peanuts in New York is retarded.


In Manhattan, it pretty much is. I live in the UWS with my wife and the only reason I was able to swing that was with two incomes.

Otherwise I'd be back in Queens on my parents sofa.
This post was edited on 6/4/18 at 7:23 pm
Posted by baldona
Florida
Member since Feb 2016
20495 posts
Posted on 6/4/18 at 7:24 pm to
Not that this pertains to the conversation, but you'd have to be an idiot to live by yourself in NYC unless you are pulling in $500k+. Live in a nice 3 bedroom for $8k month that has a spare bedroom, twice the space, and you get to split some bills.

But on another note, these first year type of positions are never home. Maybe one night a week you'd eat dinner at home.

Plus don't most have large expense accounts and a lot of things like dry cleaning and meals paid for?
Posted by McLemore
Member since Dec 2003
31517 posts
Posted on 6/4/18 at 7:28 pm to
This is in no way a brag, but my starting salary in Atlanta almost 20 years ago was $100k, at a firm that required a LOT fewer hours than Wall Street law firms. I probably made more than these suckers, properly adjusted. And i paid a lot less for school.
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