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Author Topic: Anyone notice that private sector salaries went down a lot?  (Read 10017 times)

Happy_Weasel

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #20 on: April 09, 2005, 03:24:18 AM »
Well, I just don't want to be a JD holder making BA money...that's all. I mean, its just a bad investment to spend 100,000 and have no returns, even if it is fun and stimulating. This just makes the JD degree a luxury. All in all, I just want to know if my Higher T3(all my T3s have ratings comparable to T2s) and my lower T2s will do if I graduate from one of them. Will they just hang on the wall or will I actually get the respect that a lawyer is due. What tier do you have to be not be just a paralegal or a clerk the rest of your life? I'm just happy making the average 90,000/yr that is considered the AVERAGE in the profession.

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #21 on: April 09, 2005, 10:56:46 AM »
Well, I just don't want to be a JD holder making BA money...that's all. I mean, its just a bad investment to spend 100,000 and have no returns, even if it is fun and stimulating. This just makes the JD degree a luxury. All in all, I just want to know if my Higher T3(all my T3s have ratings comparable to T2s) and my lower T2s will do if I graduate from one of them. Will they just hang on the wall or will I actually get the respect that a lawyer is due. What tier do you have to be not be just a paralegal or a clerk the rest of your life? I'm just happy making the average 90,000/yr that is considered the AVERAGE in the profession.

call the career services at each of the school and request their salary information.  specifically, ask what percent of student actually responded to at graduation and 9-month employment surveys.  if they show 95% employment 9 months out, but only 62% reported, then you can happily assume that the othher 38% are unemployed and bitter.

as for making a respectable $90k - it's hard to make that coming out a T1 law school, so you have a bigger challenge coming out of a T2 and T3.  $90k where?  NY?  That is medium law.  Phoenix?  That is biglaw, so you'll have to be top of your class and law review.

Happy_Weasel

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #22 on: April 09, 2005, 01:13:20 PM »
Well, I mean what would you consider good salary from a school ranked 70-110? I am thinking of making 50K to 65K my first year...something that says I made a good investment. Is it worth waiting to hold out for a job like that and if I do search the market...does that job exist?

the REAL desi

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #23 on: April 09, 2005, 10:51:22 PM »
this is my philosophy - take your starting salary coming out of undergrad.  for most t.t.t. liberal arts majors, that is $31k.  add $10k for each year of grad school/law school, so after a JD, if you're getting $61k, you should be very happy.

if you were engineering, then start at $55k and add $30k = $85k.  if i get a job that pays $85k (which i'm sure i will), then i iwll be happy.

A.J

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #24 on: April 10, 2005, 12:52:22 PM »
Well, I mean what would you consider good salary from a school ranked 70-110? I am thinking of making 50K to 65K my first year...something that says I made a good investment. Is it worth waiting to hold out for a job like that and if I do search the market...does that job exist?

I was looking at Oregon's stats for 04 the other day.  In a very rough NW legal job market they had people in PI coming out at like 28k and guys in private practice on the top end at 150k.  I think the median was around 50k despite how tight things are here.

Happy_Weasel

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #25 on: April 10, 2005, 06:11:08 PM »
However, the average for new lawyers is 60K. I am going to an average law school (T2 or T3)...and the average in ten years is about 150,000 for private practice....So, I don't think im not being unrealistic.

SuicideNixon

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #26 on: May 18, 2005, 04:11:40 AM »
However, the average for new lawyers is 60K. I am going to an average law school (T2 or T3)...and the average in ten years is about 150,000 for private practice....So, I don't think im not being unrealistic.

I don't know anything about the situation you are talking about, but of course it could be that the salary numbers look like that because you have people on both ends of the spectrum. That is, it could be that lots of tier 1 students make 70K+ and that most tier 2-4 students make 50K to make an average of 60K. Similarly it could be that ten years down the line you have plenty of folks stuck below 100K, but then you have a relatively few number of people making 250K+. You can't assume that achieving a certain salary number will be of average difficulty just because the number is average for the profession.
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St. Shaun

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #27 on: May 18, 2005, 12:12:12 PM »
However, the average for new lawyers is 60K. I am going to an average law school (T2 or T3)...and the average in ten years is about 150,000 for private practice....So, I don't think im not being unrealistic.

I don't know anything about the situation you are talking about, but of course it could be that the salary numbers look like that because you have people on both ends of the spectrum. That is, it could be that lots of tier 1 students make 70K+ and that most tier 2-4 students make 50K to make an average of 60K. Similarly it could be that ten years down the line you have plenty of folks stuck below 100K, but then you have a relatively few number of people making 250K+. You can't assume that achieving a certain salary number will be of average difficulty just because the number is average for the profession.

More like a relative few making over 600K.
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LawyersGunnersnMoney

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #28 on: October 23, 2005, 10:38:54 AM »
I can't speak for the entire country, but in the southeast there are a lot of jobs to be had at or very close to 6 figures if you do reasonably well in law school.  you dont have to be top 5 in your class.  there are people who dont go after the top paying jobs. maybe it comes down to interview/networking  skills, but ive been given good reason to believe i can start around $100k even coming from a school like south carolina if i finish top 1/4 

bruin

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Re: Anyone notice that private sector salaries went down a lot?
« Reply #29 on: October 23, 2005, 04:09:27 PM »
Anyone else notice that private sector salaries for most of the schools went down a lot?  I didn't look at every school, but at least for the schools I'm interested in, salaries went to significantly.  UConn's 75th went from 110K to 95K, Northeastern's 75th went from 125K to 115K and I believe BU's 25th went down to 50K!!!  What the hell is going on here?

Note:  I think there's a one-year lag time in the salary statistics (i.e. the salaries listed are for the Class of 2003).

I didn't notice that, but I did notice that UVA's 75th went up to 135K.  That's better than HYS.

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