What is considered "big law"?

[nealric]

85-110 is generally what midlaw firms pay. Often the same hours (but not always)

[yoyodawg]

85-110 is generally what midlaw firms pay. Often the same hours (but not always)

That's true for midlaw in NYC, Chicago or DC.

However, for Miami, Atlanta or Houston, 85-110 is what a lot of biglaw firms start out paying. (with a few exceptions - like HK or GT in Miami,  and few of Atlanta's biglaw firms - Troutman or Sutherland or K&S -  have recently raised the starting pay to 125-135)

[Journeyman]

Sorry to hijack the thread for a moment, but I just wanted to clarify something.

BIGLAW has a primarily large corporation clinentele.  What is the clientele for mid-law?

Basically, other things can you do in mid-law besides insurance defense, because that's generally the only answer given to the question.

[Journeyman]

The reason I ask is, obviously many of us are going to have BIGLAW as an ambition, even some of us "future world changers".   

But only about 10-15% of all of us are going to get there.  I just want to see what the alternative is, if I don't go for government.

[Journeyman]

But only about 10-15% of all of us are going to get there.  I just want to see what the alternative is, if I don't go for government.

That's what they say about scoring 165+ on the LSAT, and you know how that goes for LSDers.   

With the abundant hits on threads about schools like UVA, Columbia, Michigan, and Georgetown...I really do not feel like LSD is a representative sample of the students entering law schools each year.

[«ě»]

With a BigLaw job you could pay off a $150k debt in 5 years, although that would mean living on ramen and water most of the year

Not true at all. Keep in mind that if you are in the game for 5 years, you have gotten about 50k in raises.

Even if you are assuming a static salary of only 125k/yr, you can do a LOT better than ramen and water. Just live off 75k a year for 4 years and you've done it. 75k a year is not a ramen and water salary. Heck, I currently live on substantially less than 1/2 75k. I live pretty ok on it too- I go out to eat a few times a week and have a comfortable place. The biggest firm in my city still pays 145k to start. Assuming I could get a job at that firm, I am looking at triple the salary AFTER the loan payments.

Please don't take everything literally

[Scribner]

How much debt would people say is payable with ease through jobs other than BIGLAW?  under 70K .. Under 80k... ??

General rule of thumb: you can afford debt equal to your starting salary.

As for Biglaw, it's generally 200+ lawyers at firms that pay market, which is the top rate commonly found at the top firms in a market. Market is 135 in Milwaukee, 145 in Chicago/DC/Atlanta, and 160 in NYC.

So, if you are racking up 6 figure debt, you better be going to a school that's going to get you a job that can pay the debt. If you're not at a top school (T10/14), you're chances of BIGLAW are slim. It's not impossible, it's just not likely.

[DDBY]

You can get into a Biglaw without going to a T1.  It's amatter of how well you do with grades, and your networking abilities.  Some of the Profs in the T4 have Biglaw connections.  Some of the Biglaw Firms go to regional schools to specifically meet with the top 10 of the class.  The main point is to get the JD.  Everything else will work out if you do your work right.

Have faith in yourself.  If you don't no one else will.

[Imelda Marcos]

You can get into a Biglaw without going to a T1.  It's amatter of how well you do with grades, and your networking abilities.  Some of the Profs in the T4 have Biglaw connections.  Some of the Biglaw Firms go to regional schools to specifically meet with the top 10 of the class.  The main point is to get the JD.  Everything else will work out if you do your work right.

Have faith in yourself.  If you don't no one else will.

Best piece of advice all day.