How Law School Applicants Can Discuss Extracurriculars

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Tue, 28 Aug 2018 15:25:57 +0000

@TheBigChef: You may be right. But he will be welcome back at the Big4 & almost certainly welcome at any Big4 accounting firm at a base salary closer to $180,000 -$200,000 plus bonus. May also receive a signing bonus & relocation. He already has his CPA license.

Law school at this T-14 will cost about $50,000 per year total, including books, housing & living expenses. The opportunity cost, therefore, is about $550,000 when considering $150,000 total COA for 2 years and 9 months of law school and almost three years of lost salary & bonuses. The $550,000 sacrifice should be reduced by two summers of well paid legal clerkships at about $4,000 per week x 20 weeks = $80,000. Total sacrifice = $470,000. Probably safer to estimate the net opportunity cost at over $500,000 since I did not factor in his likely Big 4 promotion.

An interesting aspect of working for a Big 4 accounting firm is, not only will they welcome one back after a separation, they also celebrate when an employee is hired away by a client or potential client firm. Most Big 4s hold alumni cocktails & dinners in order to maintain & to further cultivate the relationship.

Also, because of this particular Big 4s location & the clients with which he was in constant contact, he may have a highly desirable corporate attorney position waiting for him that will pay BigLaw money without BigLaw hours & without the constant threat of being asked to leave as often happens in BigLaw. This will be revealed possibly by his law clerkship after completing his first year of law school.

If pressed to guess, I think that he will recoup his law school investment within 4 to 5 years after graduating law school & be on a track for many years of seven figure income thereafter.