LAW STUDENT applying to medschool. Please help!

Publisher
Thu, 01 Oct 2020 01:49:25 +0000

Top 5% of one’s law school class is a valuable accomplishment.

Any interest in defending medical professionals in malpractice actions ?

Out of curiosity, are you at a Tier One (top 50) law school ?

Top 14 ?

Any law school debt ?

I ask because you can save about $400,000 if you work for 4 years in biglaw at NYC / DC market rate. That should be enough for med school as this money should earn interest or capital gains.

(If you just received end of year bonuses & 4 years of base salary on the Cravath scale, your before tax earnings would be over $1 million during your first four years of biglaw. With the new summer & fall bonuses now being paid by many biglaw firms, your 4 year earnings would be about $1,250,000 before taxes. Therefore, if you can live on $100,000 per year after tax, then you can save a bit over $400,000 after tax over your first 4 years in biglaw. If you earn a reasonable rate of return on your savings, you should have about $500,000 in savings after 4 years in biglaw at NYC / DC market rates.)

I understand that I have not addressed your question in a direct manner; just trying to give you an alternative plan.