Is Corporate Law worth it?

cartera45
Wed, 30 Nov 2011 16:28:24 +0000

alwaysamom, I agree that long term, or even mid term, the remuneration can very well equal or surpass law firm pay. However, some associates quickly start spending every penny they make and they aren’t even able to take a small pay cut short term. I am working to fill two positions with a well known financial institution in Manhattan and the base salary is about $180k with a target bonus of 55%. I have talked to numerous associates who would love to be able to consider the job but are not able to take that cut. The company doesn’t have to pay more because it will find top people for the job. I am constantly advising young associates to save and be frugal so they don’t close off opportunities. When I filled in house positions during the tech boom, it was common for associates to get pay increases to go in house - particularly when lucrative stock options were factored in. Stock options are, of course, not what they used to be and the new crop of associates are much more tuned into base salary rather than bonus and options. They are much more risk averse.