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A comment on Meta Is Preparing to Notify Employees of Large-Scale Layoffs This Week. Parent comment

Re:Meta Is Preparing to Notify Employees of Large-Scale Layo... by steviesands on Sunday November 06, 2022 @08:21PM (#33499839)
Does this logic work for lawyers? "Biglaw" firms are similar to FAANG in that it is a handful of companies that offer very high comp (235k for first year). There is a deluge of folks that apply from all universities to biglaw but generally they primarily hire from top tier law schools and even then not all make it.

Similar for Big 3 consulting firms (BCG, Bain, McKinsey) in that there is a huge application pool for positions but they are difficult to get and provide high pay.

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Re:Meta Is Preparing to Notify Employees of Large-Scale Layo... by adam_arthur on Sunday November 06, 2022 @08:43PM (#33499985)
Yeah, for sure.

But in those cases the number of jobs is much more limited than was the case in tech in recent years.

Finance is a similar example. Bankers get paid a lot, but the number of them has been pretty static.

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Re:Meta Is Preparing to Notify Employees of Large-Scale Layo... by steviesands on Monday November 07, 2022 @01:19PM (#33509806)
Interestingly revenue per employee (1.2 - 1.8 mil per employee) at biglaw companies is similar to FAANG although i'd guess biglaw margins are higher as you have less other costs (infra).

https://www.law.com/law-firm-profile/?id=178&name=Latham-%26...

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