Tax Attorney Salaries

[MonicaMargoux]

I'm currently a 3L at a T4 and definitely plan on getting an LLM in taxation to boost my options.  Just wondering whether the low ranking of my JD school will highly effect job opportunities.  Also, does anyone know the ranges for entry level tax attorneys?

[philibusters]

I'm currently a 3L at a T4 and definitely plan on getting an LLM in taxation to boost my options.  Just wondering whether the low ranking of my JD school will highly effect job opportunities.  Also, does anyone know the ranges for entry level tax attorneys?

If you are biglaw you will make the normal first year biglaw salary.  Otherwise, it is a crapshoot, just like any other law field, EXCEPT if you go to work for a big 4 accounting firm where the first year salaries are more predictable.  Also at smaller and mid size firms you probably won't get to do tax work exclusively unless its a tax boutique.

[Harvey Birdman]

I have read on another board that it really doesn't matter what school you got your JD from, but if going for the LLM make sure it's at one of the top schools such as NYU. I don't know if I can link to other sites but a similar thread was started on this other site and the answer was basically the JD granting school is not an issue if you're going for your LLM in Taxation.
My girlfiend's dad is a tax attorney and he makes  boatload of money. Incidentally he went to a T3 or T4 school in the Deep South back in the 70s and got his LLM from NYU.

[Contract2008]

I'm currently a 3L at a T4 and definitely plan on getting an LLM in taxation to boost my options.  Just wondering whether the low ranking of my JD school will highly effect job opportunities.  Also, does anyone know the ranges for entry level tax attorneys?

If you have problem finding a job with your JD, a LLM is not going to help much unless it's one of the top 3 (NYU, Goergetown, UF). 

You can see many law graduates (even tier 1) with LLM working in law firms doing family law, plaintiff's work, etc. that they didn't need the tax LLM for, which cost them $50,000 more in debt(30K tuition plus 20K living expenses) and one year out of their lives, not to mention lost wages, etc. 

[phisher]

I have read on another board that it really doesn't matter what school you got your JD from, but if going for the LLM make sure it's at one of the top schools such as NYU. I don't know if I can link to other sites but a similar thread was started on this other site and the answer was basically the JD granting school is not an issue if you're going for your LLM in Taxation.

I disagree completely with this statement. There are two points to consider. First, an LL.M. degree will not cover up a low-ranked JD or bad grades. The general idea is that most firms will not hire an LL.M. student that they would not have hired out of law school. You should not look at an LL.M. like it will suddenly get you those interviews you didn't get in law school. Pursuing a tax LL.M. to "boost your options" is unwise in my opinion (which are in line with the opinions of many others, including many hiring partners at firms who encounter that situation annually). Yes, of course someone with an LL.M. might be more appealing to employers than an identical person who lacks that LL.M... but there are many other factors that could distinguish candidates, primarily experience. An LL.M. is not the only (and definitely not the best) way to boost your options. Perhaps You should use take the next year and develop experience in practice, increase your networking, and look to get involved in legal organizations that demonstrate your abilities in practice (as opposed to just your abilities in the classroom).

Second, if you do decide that you are going to get an LL.M., you should try to get it from NYU, Georgetown, or (maybe) Florida. Those are the best schools, they have the best reputation, and they will do the most good for your career. If you know you are going to practice in a particular geographic location, you should also look into other schools in that area (west coast = USD, Loyola; south= Miami; Midwest = Northwestern; Northeast = BU, Nova...). Those schools do not have the same national reputation, but they are well-known in their regions.

[nealric]

Just an anecdote: one my former housemates was a tax LLM here at GULC. She was high in her class (LR) at a T2, but just barely unable to get biglaw. Lots of interviews, no offers. She did extremely well in the LLM program (one of the top in the class) and just barely landed a biglaw offer several months after graduation.

It likely pushed her over, but she was already on the brink. I doubt it would have helped if she had been a middle of the road T4 type.

[phisher]

nealric -- that situation is one that I should have addressed in my position that an LL.M. will not compensate for an otherwise unimpressive resume. I think there are situations where students can increase their opportunities by getting an LL.M., but I think it is far too common for students to view an LL.M. as a one-year second chance where they can add a flashy degree and university to their resume in hopes of impressing employers.

Getting a tax LL.M. is great if you want to do tax or even something related to tax law like estate planning, but it is not a good idea for someone who is considering it as a way to beef up their resume, offset low grades, or improve a low-ranking JD school. Sometimes those students do get lucky and get great jobs after getting an LL.M., but that was uncommon before the economy and the job market decided to stop playing nicely. More often than not, those students find themselves one year older with no more experience, $50k+ extra debt, and only a marginal improvement on their resume.

[southernlawdog]

Big 4 accounting firm around $70-75,000; Company around $80-100,000; Big Law around $110-160,000.

[sonofapickle]

I have read on another board that it really doesn't matter what school you got your JD from, but if going for the LLM make sure it's at one of the top schools such as NYU. I don't know if I can link to other sites but a similar thread was started on this other site and the answer was basically the JD granting school is not an issue if you're going for your LLM in Taxation.
My girlfiend's dad is a tax attorney and he makes  boatload of money. Incidentally he went to a T3 or T4 school in the Deep South back in the 70s and got his LLM from NYU.

Back in the 70s there were not as many lawyers as there are today and the curriculum was much harder. I am not surprised.

[cooleylawstudent]

You weren't even alive in 1990, let along 1970.
Besides, you will NEVER have an LLM so you can quit your bellyaching.

I have read on another board that it really doesn't matter what school you got your JD from, but if going for the LLM make sure it's at one of the top schools such as NYU. I don't know if I can link to other sites but a similar thread was started on this other site and the answer was basically the JD granting school is not an issue if you're going for your LLM in Taxation.
My girlfiend's dad is a tax attorney and he makes  boatload of money. Incidentally he went to a T3 or T4 school in the Deep South back in the 70s and got his LLM from NYU.

Back in the 70s there were not as many lawyers as there are today and the curriculum was much harder. I am not surprised.