Biglaw Burnout

BiglawLawyer
Sat, 31 Jan 2015 23:21:38 +0000

The cost of law school has probably quadrupled, if not 5x+, since you were in law school. And the COL has more than doubled in New York in the past 10 years alone. Plus given progressive tax rates, lawyers were probably a lot better off making 83k as a first year with much fewer loans/living costs. If someone were to take out full loans now, it’d be around 300k by the time of repayment. I think it’d probably take 5 to 6 years just to get a net worth of zero in Biglaw.

Sounds like your relatives were still workign for someone else though. If you own your own business, you have a lot more control over everything, given there is stress. But if you make it big, the stress is almost non-existent cause you will have so much money tied up in investments and stock and have to do little, if really no, work at all.