All in all, I think my sacrifices have been worth it. I actually should be worth more.about $20m or so.lost big $$ at Worldcom (was a ten year senior mgr/dir there) and a couple of start up companies. Both kids already completed private college. If you have two big law partner spouses you're talking about net worths of $10m+. If you invest that nest egg in index funds and get a 9% average return over 35 years, that could grow into $10m+. Removing loans from the equation, you can easily build a $400-500k nest egg saving 30-40% of salary and investing along the way.
demri layton Mindblowing fact: 4 years of biglaw is worth $1.2m in earnings. On the other hand, a frugal person who invests wisely could secure generational wealth ($30MM+ Net Worth, which puts you in the "Utra High Net Worth" category at most private banks) with that sort of paycheck. There absolutely are biglaw partners that live paycheck to paycheck. sharing with you is more beneficial for the big law firm than not doing so.Get divorced (rates are high), and you can really get into trouble. But making a partner is not always about being the best. I have given thought to going to Law School in the past.
Anyways I'm getting kind of bored of software engineering. I mention all of this because of the enormous cost of law school and the opportunity cost of not working.
if a partner billed $1-million worth of work, she would earn far more than the partner who .My total comp is around 225k a year but I also get a significant amount of pre-IPO stock that I feel is worth something.
PARTNER COMPENSATION USED TO BE SO SIMPLE. One Am Law 100 firm leader said his shop also raised the pay of new partners in order to ensure that becoming a partner is financially worth it, .6.
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