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8.69
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8.25
8.13
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2.70
2.86
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Dear Judged > Archive
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Dear Judged
BigLaw or Solo?Can the Judge tell me if it's good working for a BigLaw or start
your own solo practice?
3L
posted 2007-07-03 01:52:32
Dear imperial,
OK, let's get this straight: you tell me nothing about yourself (law
school, etc.), and expect me to tell you whether you'd be happier at
Skadden or hanging out your own shingle??? But, hey, helping is just what
I do, so I'll assume you're new to all this and I'll throw some
advice out there.
First, know your situation! You need to
figure out where you stand at this point. Take a paper and list down the
following:
-your GPA,
-your law school,
-your law
school debt,
-your expected salary (consider your GPA and debt!)
-your preferred practice area, and
-a list of some law firms that
might hire you given all of the above
Now analyze this page
thoroughly. Don't go overboard emotionally, thinking, "I always wanted
to start my own shop, this is my chance" or "All my friends are aiming for
top firms, so I should too." Consider all aspects of the BigLaw and small
firm life. If you are loaded with debts and have no other way of paying
back except your salary, then big- or mid-sized firm would be a good
choice. If you want freedom while working and have the zeal to create your
own clientele and set-up your own shop, solo practice is the perfect
pick!
As a 3L, if money is your top priority, then yes, BigLaw
is what you should aim for. BigLaw is the easiest way you are going to see
a six-figure salary straight out of law school. But don't forget,
money doesn't come easy! Life in BigLaw is worse than your 1L year or
your bar prep… It's a known fact that most of the associates at
big law firms are always complaining about not having a flexible job and a
social life (flexibility and socializing are foreign concepts to most large
law firm associates, in case you didn't already know). If you visit
blogs of BigLaw associates, they are always griping about long working
hours. You won’t have sufficient time for friends and family, at
least not till after the first 3-4 years. Even then, it won't be
much. What's worse is that if you are unable to become a rainmaker,
you'll find it difficult to get ahead and make partner. Apart from the
clients, what differs is the work environment at law firms. General
perception persists that the work environment at large law firm is not that
great so even if I may be giving you all the advice in the world, it's
all in your mind. They say money doesn't buy happiness, and I would
tend to agree with them (whoever they are). So unless it's only money
that you're after, trust me: a big paycheck won't make up for the
100-hour work weeks.
Considering a solo practice, if you want to
start your own firm, you have your advantages. Looking at the workload,
you're your own boss. It's much easier to maintain a work-life
balance. It's not difficult to get clients if you have a good
network. All money comes to you! No one shares it. If you make it big,
life will be just more than perfect. But we also have the other side. You
have to struggle on your own, order your own office supplies, manage your
own IT, negotiate, pay your bills, and manage your staff and clients all by
yourself. Oh, and you have to actually GET your own clients in the first
place.
Apart from big law firms, many boutique and mid-size
firms also offer 100k+ salaries. There are many such firms in New York
City, San Francisco, DC and other cities (some have only 30-60 lawyers or
less) that pay as much as 160k. But again, this is limited to the big
cities. As you move to smaller cities and towns, the salaries obviously go
down, generally (though not always) in line with the cost of living index
at those places. In many cases, they are actually better bargains, with
better quality of life.
Not every first-year lawyer can draw
this amount! This is a fact that a majority of them do not make 100K in
their initial years. But this definitely does not mean you cannot make it
big. It simply means that most students have to prove themselves as good
lawyers with their hard work, experience, and strong network to generate
good clients.
Again, this is largely a personal decision. Some
people are happier working for a 1000+ lawyer firm. Others are happier
being their own boss. Others find a happy medium somewhere in between.
The best solution for many—gain experience at the best firm
you can. Become a rainmaker. Get clients. And then go solo. Yeah,
sounds simple, eh? But it takes a lot of patience and perseverance. Most
importantly, just find a career that makes you happy. With this wise note,
the Judge wishes you best of luck in your career! Keep all the pros and
cons in mind while charting your career path! Keep us posted on your
latest! And keep on keeping on! Cheers!
Dear Judged > Archive
+ Pretzel
+ that one guy with the paralegal survey
+ Bush's Press Conference
+ girl talk
+ Pizza Bet
+ JUDGED VIDEOS
+ Good Eatin'
+ My Husband the Dwarf
+ Virgins
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Dear Your Honor,
Dear Judge,
Do you ever experience any physical danger in the courtroom? You do deal with all those criminals, right?
Sincerly,
Concerned Bailiff's Mommy
+ more Judged Dear
+ write to Your Honor
Do you ever experience any physical danger in the courtroom? You do deal with all those criminals, right?
Sincerly,
Concerned Bailiff's Mommy
+ more Judged Dear
+ write to Your Honor
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