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Does anyone have any advice for Contracts? I think that of all of my classes, this will be the one to give me the most problems. I have a copy of the hornbook keyed to my text, as well as the E&E. I guess my biggest concern is knowing what will be relevant... Are requirements K's really going to come up on an exam, or is it more the principle of good faith? Hope this makes sense! Thanks!
Weil, Gotshal & Manges (New York)
1st year: $125,000
2d year: $135,000
3d year: $150,000
4th year: $165,000
5th year: $190,000
6th year: $205,000
7th year: $215,000
Bonuses in all classes
Since we're law students who will enter the workforce in 2007-2010, I don't see how salary figures from five years ago are relevant. I'm not bored enough to go find all the problems with your numbers, but suffice it to say that your numbers for Weil are way off, so whatever your source is, it is unreliable.
Next time try this http://www.lawfirmdiscussion.com/compensation/newyork07salary.php, NALP, Infirmation.com or the company's own website, all of which indicate a starting salary of $160k for Weil.
Nearly every BigLaw firm in NY, and many in other markets pay these rates. If you would have paid attention, we were discussing the value of the degree from top schools: If you go to a top school and then take a job in Newark with hideously below-market pay, that is your own fault and you are not permitted to complain. It is not relevant to the positive value of the degree.
Edited to Add: Just checked Covington and Jenner, both are also at $160k to start.
i think your calculations are pretty good for the most part except that they ignore interest on your loan (not that high if you truly pay it off in three years, and assuming interest was deferred until graduation):
year 1: salary 160K + 30K bonus = 190K - 40% tax = 114K
year 2: salary 180K + 30K bonus = 210K - 40% tax = 126K
year 3: salary 200K + 30K bonus = 230K - 40% tax = 138K
Total earnings [3yrs]............................. .378K
Total [3 yr] interest accrued on a 180K loan......(~30K)
Living expenses [3yrs]*...........................(~150K)
I just thought I'd mention that I know a guy that went to a 4th tier in Boston, is $100,000 in debt from law school, has his own practice, but has to wait tables FT at night just to make ends meat. He has 2 kids he never sees.
Couldn't agree more.
When you go out into practice, there are 2 questions that you will get asked everywhere you go:
1. where did you go to law school?
2. did you make law review?
Irrespective of the field of law you plan to go into, these two things will follow you around and, as many people have noted here, will open doors for you that are not open to others. It is definitely worth the 1 or 2 weeks of aggravation that you will have to put up with right now when you consider the benefits you will receive for years to come once you start practicing.
Totally disagree. You will get asked those questions during an interview but, as a practicing attorney, I can tell you I rarely get asked where I went to school and I NEVER get asked whether or not I was on law review. Both are largely irrelevant when you're "in the trenches." It's all about your lawyering skills, your work product, and your performance in the courtroom. Believe me, you tear it up in court and no one gives a crap where you went to school.....
Let's see what we can expect from the next great leaders of our Court. Which judicial philosophy do you ascribe to? Are you 100% behind Justice Thomas and support Originalism, and, if so, why??? (Scalia is faking!!)
Do you think we should have a living constitution? Why?
How about some other choice? Any takers?