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Messages - Bored 3L

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Current Law Students / Re: Law firm salary increase already?
« on: January 28, 2007, 09:09:03 PM »
try working at one of those firms and in a year you will wish you were dead. What do they average? 80 hours a week of mind numbingly boring work?

No, I doubt they average anywhere near 80 hours a week.  Do the math: assuming you bill 80% of the time you're in the office, and work 48 hours a year, billing 80 hours a  week would amount to 3,072 hours billed a year.  Ask around, it's extremely rare to bill this much.  Also, in a recent mid-level survey, I think only Wachtell associates reported working 70 or more hours per week on average.  (And no arguments from me that working at Wachtell is awful, though I certainly never had the chance to try it.)

I work at a biglaw firm, not in NY, and average b/w 50 and 55 hours a week (worked, not billed).  The idea that biglaw is some kind of living hell is generally not true IMO.  Granted, it's not a walk in the park either, and like most associates I doubt I'll stay more than a few years, but it's really not as bad as it's made out to be on these message boards.   

Current Law Students / Re: Law firm salary increase already?
« on: January 28, 2007, 02:56:05 PM »
I don't know that "virtually all" NYC biglaw will follow suit. While salary bumps like this usually do create a ripple effect, only three or four have followed suit so far and I don't know how far into '07 they can wait since spring is typically the time for lateral hiring (i.e. when mid-level associates jump ship for more cash). Considering that last year also saw a $15,000 raise, I would be surprised if there isn't a corresponding reduction in bonuses. But yea, if you're a SA, you'll be rolling.

We'll see, but I think most NYC firms will feel obligated to match, the same way they all (virtually all) felt obligated to match the increase to 145.  Once the market shifts, firms just can't afford to pay below market -- it hurts recruiting and makes them look bad.

As far as when firms will raise, I'm not sure; certainly some will wait and see if the trend will be market wide.

Current Law Students / Re: Law firm salary increase already?
« on: January 28, 2007, 09:36:46 AM »

oh man

i love it i love it i love it

for those of us who are SAs this summer in nyc, do you think that the salary bump will be reflected in our weekly, or should we expect to get the 145 base of 2790 / wk still? i think that the 160 base is something like 3080 / wk - which would be, well, fun.

It will be reflected in SA pay -- that's basically a given, I think. 

Current Law Students / Re: BigLaw Bonuses
« on: January 28, 2007, 09:05:15 AM »
Did Kirkland officially up to $160?  If so, as far as I know, it'd be the first Chicago non-Skadden firm to do it.

I haven't heard anything about Kirkland.  Given its bonus structure, Kirkland has pretty consistently been above the market in total compensation.  I hear it's a terrible place to work though.

Current Law Students / Re: Law firm salary increase already?
« on: January 28, 2007, 09:03:56 AM »
Yes, this is true.  Simpson Thatcher was the first to raise.  Virtually all NYC biglaw firms will be forced to follow suit, and it's having ripple effects in other markets.  DC for example will have to go to 145 at least.

Current Law Students / Re: BigLaw Bonuses
« on: January 27, 2007, 04:29:05 PM »
It of course varies by firm, but there are some general market trends.  For example, many firms in NY pay lockstep bonuses -- i.e. generally everyone in class gets the same amount and it's not tied to billable hours.  In DC, most firms give a bonus after around 2,000 hours billed, with the potential for more based on merit and of course more hours.

If the Chicago firm you're talking about is Kirkland, then this is good news (for bonuses, anyway).  Kirkland gives very large bonuses accross offices.

It will be interesting to see if the past increase to 145,000/135,000 and the recent increase to 160,000 will affect bonuses.

Current Law Students / Re: Studying for Bar vs. LSAT?
« on: January 21, 2007, 06:09:43 PM »

Anyway... 6-8 weeks, every day is about right for the bar. Minimum.

Well, virtually no one studies for more than 6-8 weeks.  I mean, based on most schools' graduation dates and the test date you can only put in so many days, and unless you study before you graduate, which no one does, or fail and have to retake, you're not going to be studying for more than 6-8 weeks.

Job Search / Re: Drinking and 2L SA's
« on: January 20, 2007, 08:24:46 PM »
be the designated driver. problem solved

Well, the firm is going to be getting cabs, so that wouldn't really work.

Either just don't drink and be cool about it, or if you prefer, order a diet coke and just sip it -- no one will ask if your drink has alocohol in it.

Current Law Students / Re: Hoping to Transfer -- need some help
« on: January 19, 2007, 09:54:00 PM »
A few questions:

1.  What do you want to do? Work in biglaw? Clerk? Public interest? etc.
2.  Where in the country to do you want to practice after school?
3.  Do you have a scholarship at Tulane, and if not, could you get one?
4.  Tied to the question above, but how much debt will you graduate with if you transfer?  You'll have to work this out an a school-by-school basis, I suppose.  And I guess the question is really how much extra debt.
5.  How much do you value prestige for its own sake, and not what it can get you? 

If you don't have a scholarship, I would transfer unless you really enjoy NO or your friends there. 

If you do have a scholarship and transferring will cause you to graduate with much more debt, it's obviously a tougher call.  While I agree that having a better school name on your resume will help -- and it will generally help across the board, not just biglaw -- the practical difference in oppurtunity may not be that great. 

Current Law Students / Re: Should I drop out?
« on: January 17, 2007, 05:46:04 AM »
You may not be bitter, 3L, but you're certainly short-sighted.

Working Biglaw is not what most law school graduates end up doing.  Many don't even want it.  Sure, it's a great paycheck, but many find absolutely no job satisfaction.

Let's be honest with what you're saying here:  "You can't go the route I did, so you should just drop out now."

Get a life.

To the OP:  Do you enjoy law school?  Do you have any experience actually working in a legal job?  As Buds suggested, find out if you would like to be an attorney.  Next, you need to start networking ASAP.  Go to bar events, do anything you can to start meeting attorneys in the location/practice area you want to work with.  While networking may not get you a BigLaw summer associateship, you'll be much more likely to get a job you like even with not so great grades.

I really liked "Guerrilla Tactics for Getting the Legal Job of your Dreams."  It has a ton of helpful advice for finding a job for any law student.

Read my very first post.  I said I would drop out if his grades didn't improve UNLESS he was sure that he would enjoy practicing law.  Lots of law students like the idea of practicing law, but don't really know what the practice of law is like on a day-to-day basis.

I know that biglaw isn't for everyone and I don't think I'll stay for long.  But I have lots of friends who took out huge amounts of debt, can't find great jobs and are miserable b/c their quality of life is poor and they don't particularly enjoy being lawyers.

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