« on: May 12, 2005, 08:00:28 AM »
I'm enjoying this conversation about biglaw, but I'd like to add something.
It seems like a lot of people are considering biglaw just because it offers the most money right out of law school. After all, you won't make $125,000 in a government or public interest job. But I don't understand why no one ever talks about using their legal education for entrepreneurship. I used to work for a guy that graduated from BU law. He used his legal skills as an entrepreneur in real estate. He bought a run down hotel in Hawaii, fixed it up then and sold it. Going that route he made his first million at the age of 29. Since then he started many small businesses, built them up and sold them, and is now a multi millionaire. I know that this isn't a traditional legal career, but certainly his legal skills were pivotal to many parts of the process.
Also, why does no one consider starting their own practice. It's really tough, but it can be more rewarding than biglaw too. John Edwards made around $26 million in 6 years as an ambulance chaser. If he spent that time in biglaw he would have made about $1 million.
I guess what I'm trying to say is that biglaw isn't the only way to make a fortune.