Re:Law school applicants surge 13%, biggest increase since d...
by wayoutthere on Wednesday August 04, 2021 @08:43AM
(#28060330)
Starting for partners is $300k at a big four but that does not include equity grants or profit sharing. It also rapidly climbs from $300k, especially if you can make it past the first 3 years. A senior partner with 10+ years as a partner can pull down $20M+ a year easily and would be a candidate for C-suite jobs basically anywhere if they decided to leave.
But making it into the partnership is more about playing politics than being good, so it’s definitely not for everyone.
Re:Law school applicants surge 13%, biggest increase since d...
by sizzle on Thursday August 05, 2021 @01:14AM
(#28070131)
How do these firms make so much money to pay these eye popping amounts?!
Are these the firms that do lawsuits against companies on behalf of a wronged client, client gets peanuts and “lawyer” fees eat up the sizable chunk of amount awarded in $xx,000,000+ cases?
Re:Law school applicants surge 13%, biggest increase since d...
by google234123 on Monday August 09, 2021 @02:40PM
(#28120573)
20m is not normal. Look here, the top law firm makes 5m profit per partner https://en.m.wikipedia.org/wiki/List_of_largest_law_firms_by...
Starting salary for partners is around 300k at a big four. That's true for FAANG starting salaries, too.
The only difference is it takes 15 years to make partner at a big four, whereas (especially with college-age side hustle experience) you can start with a few years of experience.
Oh, the other difference is you can spend a few hundred thousand to buy-in as a partner, as opposed to a 100k signing bonus at a faang.
The fact senior partners make millions doesn't change the fact about starting salaries. At that point you're comparing a 25yo to a 45yo.