Day by day the opinions about the worth of being a lawyer are diverging. Becoming a lawyer requires strong academics, strong LSAT score, and finishing law school is quite challenging. What do you think is it still an industry with "big opportunities"?
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friend works in restructuring/corp law for a US firm in London, he makes good paper but is doing 80-100 hr weeks doing boring stuff like CIMs. I don't think their bonus is comparable to finance either. not sure what the exit opps are, but he talks about moving to a distressed shop as if is skills will be in high demand there.
Rx/bk law to a distressed shop “can” happen but is treated as more common and obtainable than it is. It is also the clearest business side exit for big law.
the hours suck, and the quality of every hour spent sucks bc the work is totally uninteresting, meaningless, and unappreciated by the client. You either mess up and get roasted, or you do it perfectly and deceive no remuneration for that because that is expected.
bonuses in big law are not comparable to buy side firms, you are far more reliant on salary
High number/risk of bankrupcies during Covid19 and possibility after Covid19 may push demand higher
@T30Graduate care to opine?
This is misleading. Most students at Harvard Stanford (and even Yale to some extent, the exception that proves the rule) and the T14 went to non target colleges and pulled a good gpa in a joke major most of you would frown upon. A lot were waiters or filled menial jobs before law school after Southwest Technical State U. They got lucky on the lsat after cramming and have no idea what a corporate career is like, hence they don’t realize how bad big law is in the grand scheme of the American private sector. Law school is not challenging if it is treated like a 30 hour a week job. Most students at any law school lie about how much time they put in, and the material is 11th grade reading comprehension/writing skills.
interesting insight
Any time. Feel free to PM if you have any further questions.
I have friends who attend those law schools and they tell me their classmates are some of the brightest people they've ever met. Of course there are edge cases, as there will always be. But edge cases are by definition exceptions to the mean--how does an exception "prove a rule" lmao? That literally contradicts what an exception is. You must've gone to a total garbage law school if you didn't learn the logic to figure that out, which isn't surprising since job prospects are usually garbage if you don't go to at least a T14
Obvious flame, I’ll bite for any overly literal reader. I had a respectable big law position I voluntarily left. My law school was not T14. I performed well there, between 25-50 percent get big law. I consider law a joke profession, so calling my school garbage isn’t a claim I’ll contest. All law schools are garbage in that someone at a BB/MBB/F500 management shouldn’t leave their job to attend under any almost any circumstance, even if it is Yale
“The exception that proves the rule” is an expression. I’d rather not bore any reader with what it means. If curious: https://en.m.wikipedia.org/wiki/Exception_that_proves_the_rule
It is actually difficult to gauge law classmates’ intelligence based on academics. Grades are one exam blindly graded, people lie about their results, and some of the most consistent contributors to discussions (called “gunners”) get roasted with their job outcomes. At any law school and in most legal positions (big law or “shit law”), the responsibilities are 11th grade level. The twist is you cannot mess them up or you get canned, you have to do it 60-90 hours a week, and at a firm it is up and out so you are competing against graduate school alums on this 11th grade basis. Law students are not smart, because if they were they’d have had a prestigious job out of undergrad or had a STEM major. They’d understand the economic landscape of large firms and the legal profession is bleak on a 10-30 year horizon, and select another path. If you look at my past posts you’ll find tons of articles and economic studies backing this up. No matter how academically smart your friend may find his classmates (and they probably aren’t that smart), they are all unwise.
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