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Author Topic: Anyone notice that private sector salaries went down a lot?  (Read 10108 times)

the REAL desi

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #10 on: April 06, 2005, 01:10:13 AM »
connecticut is a big suburb of NYC on one end and Boston on the other end.  presumably their grads are working in either of those two cities

i just did a quick NALP search.  NYC/Boston firms are hiring at UCONN at regular biglaw rates.  the firms in stamford, bridgeport, etc, are b/n 70 and 100

BAFF213

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #11 on: April 06, 2005, 01:15:50 AM »
connecticut is a big suburb of NYC on one end and Boston on the other end.  presumably their grads are working in either of those two cities

67% of their 2002 graduates (most recent statistics I could find) are/were employed in-state upon graduation (Ultimate Guide to Law Schools).

A.J

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #12 on: April 06, 2005, 05:59:07 PM »
Ya'll need to put this debt thing into perspective.  Even at 50k you only owe what is essentially a mortgage on a condo for crying out loud and probably at a lower interest rate.  The reality is that you should expect AT LEAST a 12% return on your investment and probably more given the nature of the degree.  I dont want to say that you should take this thing lightly but I think you guys should relax about it.

St. Shaun

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #13 on: April 06, 2005, 06:18:04 PM »
One thing that I noticed that seemed suspicious was that Northwestern Grads
made more on there 25%-75% than University of Chicago Grads.  That seems really
odd to me. 

Even at top schools the average indebtedness is only around 70K. 
Of course this is thrown of by big scholarships and rich parents, but
I wouldn't think it would throw it off enough to put people over
100K in debt.
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HURLEY- L.S.D.

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #14 on: April 06, 2005, 06:57:06 PM »
Keep in mind also that that 50k/yr salary is not static.  You'll get salary bumps every year or two, and if you can make parter at a big firm after 6-9 years it will increase at least fourfold. 

My friend's Dad went to a small law school, worked for five years at 45k/yr, and now he makes over $200k after transferring to a larger firm. 

A.J

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #15 on: April 06, 2005, 07:00:27 PM »
Ah yes, to be upwardly mobile is a wonderful thing indeed.

Neub

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #16 on: April 07, 2005, 09:29:08 AM »
I hear what you all are saying about how 50k isn't all that bad and that there is a whole lot of upward mobility.  However, I think the point is that you can go to ANY law school and make at least 50k upon graduation.  A top tier, much less top 20 school, should put its graduates in an even "better" situation.

Monkey

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #17 on: April 07, 2005, 10:54:40 AM »
Ya'll need to put this debt thing into perspective.  Even at 50k you only owe what is essentially a mortgage on a condo for crying out loud and probably at a lower interest rate.

Sure - but after you pay your "mortgage," you still haven't paid for an actual place to live - and if you're in a city, try shelling out the equivalent of two mortgages a month on $50K.  Won't leave much for things like, say, eating. :)  The expectation (or even strong possibility) of a salary of $50K is probably just not enough for most people to reasonably justify three years of law school and the debt that comes with it - even those who aren't in it for the big money need to know they'll have enough to pay off their debt AND have some semblance of a life, besides.  $50K, at least in any mid-size-to-large city, ain't gonna do it.
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BAFF213

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #18 on: April 07, 2005, 11:40:16 AM »
Exactly.  I think BU's 25th percentile for the private sector of 50K is ridiculous...

I hear what you all are saying about how 50k isn't all that bad and that there is a whole lot of upward mobility.  However, I think the point is that you can go to ANY law school and make at least 50k upon graduation.  A top tier, much less top 20 school, should put its graduates in an even "better" situation.

A.J

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #19 on: April 07, 2005, 01:06:44 PM »
Ya'll need to put this debt thing into perspective.  Even at 50k you only owe what is essentially a mortgage on a condo for crying out loud and probably at a lower interest rate.

Sure - but after you pay your "mortgage," you still haven't paid for an actual place to live - and if you're in a city, try shelling out the equivalent of two mortgages a month on $50K.  Won't leave much for things like, say, eating. :)  The expectation (or even strong possibility) of a salary of $50K is probably just not enough for most people to reasonably justify three years of law school and the debt that comes with it - even those who aren't in it for the big money need to know they'll have enough to pay off their debt AND have some semblance of a life, besides.  $50K, at least in any mid-size-to-large city, ain't gonna do it.

You do realize that payments are prorated based on income level right?  If you are hurting that badly you just might have to put yourself out a little more and try to make more money.