Life As An Associate

[Resident CLS Troll]

The bummer is, they don't hire right out of school, so I am stuck doing 3L OCI.  As you might expect given the economy, it's particularly miserable this year.  Plus, it's like walking a tightrope trying to explain why I didn't like Firm #1 without dissing it, and trying to express my liking for Firm #2 without being too enthusiastic... since I don't  want the firms to think I will just leave them for Firm #2.  Argh!

That's lousy, Legapp.  Good luck! 

[Burning Sands, Esq.]

It IS a bad economy out there for sure.  Our summer class for next summer is basically going to be cut in half from what we had this summer. 

[LittleRussianPrincess, Esq.]

It IS a bad economy out there for sure.  Our summer class for next summer is basically going to be cut in half from what we had this summer. 

What's the deal with summer associate offers up there in NY? Is it still a presumptive offer environment?

[Burning Sands, Esq.]

It IS a bad economy out there for sure.  Our summer class for next summer is basically going to be cut in half from what we had this summer. 

What's the deal with summer associate offers up there in NY? Is it still a presumptive offer environment?

Yeah, and that's part of the problem.  Basically, whichever genius thought it was a great idea to jump to $160k has now tied the hands of biglaw in giving out offers. Since basically everybody from the summer gets an offer, the only respectable way to limit the offers is to limit the number of summers in the first place.

The economy is b!tch slapping biglaw right now and biglaw is taking it.

[LittleRussianPrincess, Esq.]

It IS a bad economy out there for sure.  Our summer class for next summer is basically going to be cut in half from what we had this summer. 

What's the deal with summer associate offers up there in NY? Is it still a presumptive offer environment?

Yeah, and that's part of the problem.  Basically, whichever genius thought it was a great idea to jump to $160k has now tied the hands of biglaw in giving out offers. Since basically everybody from the summer gets an offer, the only respectable way to limit the offers is to limit the number of summers in the first place.

The economy is b!tch slapping biglaw right now and biglaw is taking it.

Yeah, I feel you.

We actually cut our summer associate program, starting next summer.

[A.]

So, I'm glad I didn't go into ibanking...

[LittleRussianPrincess, Esq.]

i'm so glad i'm not at an american law firm and that i'm not working in the states right now.

[Harvey Dent]

i'm so glad i'm not at an american law firm and that i'm not working in the states right now.

Isn't London also a financial center?

[LittleRussianPrincess, Esq.]

i'm so glad i'm not at an american law firm and that i'm not working in the states right now.

london is doing pretty poorly right now too.

comparitively speaking, it's not too bad here (yet).

job security is much better here, particularly at the british firms. also, the firms that do a lot of emerging markets work (which we do) haven't really felt it. i'm in corporate (obviously) and i've been busy all year.

[Burning Sands, Esq.]

The title of this rant is called "I can't appreciate it" staring New York City and their gotdamn New York City Tax. 

I can't appreciate it.

For all those kiddo's out there in pre-law land who have dreams to come and be a biglaw attorney in the Big Apple, I got one piece of advice:  Don't.

Well actually, the economy is so screwed up right now that you actually can't buy a biglaw gig in NYC right now anyway so I guess that makes the previous advice moot...at least for right now...but sooner or later the economy will bounce back (hopefully) and when it does, folks will start pouring back in with pipe dreams of NY and Biglaw.  And when that happens then I'll have to put it out there again:  Don't.

At least, if you do it, don't live IN the city.  Live somewhere else.  And when I say "the City" that means all 5 burroughs, Bronx, BK, SI, Queens, and Manhattan. 

Not only do you get taxed by the Feds (no surprise there) and by the State of NY (no surprise there either) but the City of NY takes it upon itself to stick it to you. Straight, no chaser.  For anybody making over $50K, which would be you, they take $1706 off top PLUS about 3.6% of every dollar over $50K, which when you make market here adds up very quickly to, oh, about $6,000.00!!!!  Even more if you make a bonus.


Yeah.  If you can't tell I just did my taxes and I can't appreciate it.


Makes a man wanna move back to Jersey!