11/21/13

Let's say both are working at top firms in good years, who will make more in total compensation?

Comments (12)

11/20/13

BB IBD easily; Big Law is $160k base + ~$10k bonus for all firms on the Cravath scale. Good year or bad year big law all pays the same.

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11/20/13

IBD Associate. Your typical IBD associate will make ~$200k+ all in as a first year, while a biglaw associate can expect ~$180k (unless you're at Wachtell, when you'll be making double that). I'd say that you work a bit less in biglaw, but the difference is marginal at best if you're in NY, maybe at 70 vs 80 hours a week. Biglaw outside of NY does tend to have better hours, but not that much, while banking's banking no matter where you go. If you're basing your decision solely on earnings potential, don't

11/20/13

Holy shit why does it matter? Look, do what you interests you. If you want to go into law go to law school. If you enjoy M&A work do banking. You can't just go around looking for the highest paying job, you're going to be miserable.

11/20/13
In reply to Ray Mckigney
11/20/13

Bateman Begins:

Troll for sure

No, I think he enjoys asking for pointless comparisons.

11/21/13

Not to feed the troll or further a fairly pointless debate, but it's worth remembering that associate =/= associate.
At law firms associate can range from just out of law school to an 8+ year veteran.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.

In reply to Kenny_Powers_CFA
11/21/13

Kenny_Powers_CFA:

Not to feed the troll or further a fairly pointless debate, but it's worth remembering that associate =/= associate.

At law firms associate can range from just out of law school to an 8+ year veteran.

This sounds true...I mean, just look at Katrina, she is a fifth-year associate but she's competing head-to-toe with Mike who is ostensibly only a first year associate.

Sometimes I go about in pity for myself, and all the while a great wind carries me across the sky
In reply to Going Concern
11/21/13

Going Concern:

Kenny_Powers_CFA:

Not to feed the troll or further a fairly pointless debate, but it's worth remembering that associate =/= associate.

At law firms associate can range from just out of law school to an 8+ year veteran.

This sounds true...I mean, just look at Katrina, she is a fifth-year associate but she's competing head-to-toe with Mike who is ostensibly only a first year associate.

lol well done

In reply to Kenny_Powers_CFA
11/21/13

Kenny_Powers_CFA:

Not to feed the troll or further a fairly pointless debate, but it's worth remembering that associate =/= associate.

At law firms associate can range from just out of law school to an 8+ year veteran.


Yes. Usually they are always associates until/unless they are promoted to junior partner. There are no other titles or hierarchies in between. Although some manage to transition to "of counsel"-ish positions outside the associate-partner rank. They are sort of like in-house consultants with a good deal of freedom to undertake own initiatives while still on the firm payroll. These positions are rather nice. At big firms a counsel gets paid $200k-250k/year with a heck lot less workload than associates.

Too late for second-guessing Too late to go back to sleep.

In reply to brandon st randy
11/21/13

brandon st randy:

Kenny_Powers_CFA:

Not to feed the troll or further a fairly pointless debate, but it's worth remembering that associate =/= associate.

At law firms associate can range from just out of law school to an 8+ year veteran.

Yes. Usually they are always associates until/unless they are promoted to junior partner. There are no other titles or hierarchies in between. Although some manage to transition to "of counsel"-ish positions outside the associate-partner rank. They are sort of like in-house consultants with a good deal of freedom to undertake own initiatives while still on the firm payroll. These positions are rather nice. At big firms a counsel gets paid $200k-250k/year with a heck lot less workload than associates.

Interesting. Wasn't sure what to think of the "Of Counsel" title. What do you suppose a true in-house counsel makes in comparison?

In reply to Bullet-Tooth Tony
11/21/13

peinvestor2012:

brandon st randy:
Kenny_Powers_CFA:

Not to feed the troll or further a fairly pointless debate, but it's worth remembering that associate =/= associate.

At law firms associate can range from just out of law school to an 8+ year veteran.

Yes. Usually they are always associates until/unless they are promoted to junior partner. There are no other titles or hierarchies in between. Although some manage to transition to "of counsel"-ish positions outside the associate-partner rank. They are sort of like in-house consultants with a good deal of freedom to undertake own initiatives while still on the firm payroll. These positions are rather nice. At big firms a counsel gets paid $200k-250k/year with a heck lot less workload than associates.

Interesting. Wasn't sure what to think of the "Of Counsel" title. What do you suppose a true in-house counsel makes in comparison?

You meant in house counsels at buy side firms? That really depends on the firm AUM, performances etc. General counsels at established firms with sizable AUMs usually are compensated well, in line with law firm partners and get carries too. If the funds perform well then in house counsels can do really well on the backend from the upsides. This is unlike law firms which usually get paid hourly rates no matter what.

Too late for second-guessing Too late to go back to sleep.

11/21/13

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