I know that many of your want to work in Big Law. You aspire to a top T14 school where you think you will have a great career and make enough money to pay off your law school debts. Let me share a recent story
that I heard yesterday.
I was sitting on the plane next to a gal who attended University of Taxas and worked for a large law firm in Texas. The law firm have had already two rounds of layoffs.
Most of those layed off were those that didn't meet the budgetary goals of 45 chargable hours per week. Be advised that to get 45 chargable hours, you really need to work at least 60-70 hours per week or more.
They were going to have another big round of layoffs when the staff voted en masse to allow a 20% pay cut if the firm would not lay anyone else off.Since the starting
salary for new lawyers was $160,000, they could still live on $128,000.
The partners thought about this and rejected the staff's proposal as being the result of "loser mentality." If you want to work in Big Law, you should at least know
what you are getting into for the rest of your life!
Also note, my purpose for posting this is NOT to dissuade you from working in Big Law or becoming a lawyer. That isn't my business. I just want you to know what you will be getting into.