<p>By going HLS or YLS, what can one expect as a starting salary out of these schools? Which one is better purely in financial terms (shallow test I know)? Is it possible to obtain a 200,000$+ job by graduating say in the top 25% of one of these classes? Thanks!</p>
<p>I’m not extremely knowledgeable about law schools but I’ve always been under the impression that pay is standardized with law firms.</p>
<p>Meaning, if you’re hired by a big law firm such as Cravath and come from a school like UT Austin, you’ll be paid the same as someone coming from HLS.</p>
<p>Furthermore, I don’t think any law jobs pay 200k+ coming out of law school. I think 1st associate pay is tops around 145-150k and then I’ve heard the bonus isn’t too much more than that (I would assume your bonus would depend more on the work you completed for the year over the school you came from)</p>
<p>For those 200k jobs right out of law school, I think entering as an investment banking associate might be more up your alley.</p>
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<p>you better believe its a shallow test for choosing between YLS and HLS.<br>
going to either, will give you the opportunity to work at top paying law firms - you won’t get more coming from one versus the other. but there are no guarentees from either school that you will get one of the top paying jobs.
worrying about choosing which law school to attend when you have your acceptance letters in your hand.</p>
<p>Law firms do, in fact, pay the same base salary to all of their first year associates regardless of what law school they attended. So, if you are one of the lucky ones to get a job at a top NYC firm from a third tier law school, you will get paid the same as your colleagues from HLS or YLS. The only firm that I am aware of where there is any chance (and not a guarantee) for a first year associate to make $200,000 their first year (base plus bonus) is Wachtell Lipton in NYC. Their salaries and bonuses are appreciably higher than other comparable law firms in NYC and other cities, such as LA, that pay on the same scale.</p>
<p>In these top law firms, how quickly does ur salary accelerate to higher levels? Do you make any more the second and third year than u do the first, or does it take longer? How much more would you make, and is it based off of tenure or how hard you work (generally)?</p>
<p>NY starting base pay is $145k at top firms; in the next group of cities, it’s usually $135k (it went up this spring). Assuming that you make hours, you’ll get a lockstep increase in base pay each year – usually $10k or $15k. Some firms (typically in NY) pay the same bonus to all members of the associate class each year. Others determine your bonus based on how many hours you work.</p>
<p>Hanna is correct. I would add that since base salaries were increased several months ago, partners at many of the top firms have been repeatedly telling associates that their bonuses will not be as high as they have been in recent years because of the raises.</p>
<p>Yale is better financially because if you take a low paying job, they have a better program for loan forgiveness.</p>
<p>for firms, you’ll get paid the same irrespective of where you went to school although in NY kids from HLS, YLS, NYU, and CLS are more likely to make partner.</p>
<p>How much of a difference does the prestige of your law school have when it comes time to make partner?</p>
<p>I hear a lot about starting pay, probably because the facts are available to us, but what are your opinions regarding law schools and the possibility of making partner. (I know there are many other factors involved to making partner but let’s talk strictly about your law school).</p>
<p>Is it true that Yale doesn’t have grades while Harvard does?</p>
<p>Yale gives a honor/pass/low pass/fail, if I remember correctly. Harvard I think gives a numerical grade. My brother worked at Cravath, and the some of the lawyers were making $2-3 million. My brother went to Colby, and got a job at Cravath right after graduation, but the hours he worked were insane. They give everyone limo rides home, and he lived 30 minutes fromt he city. The limo would just wait for him, while he slept at home, and would bring him back after 5-6 hours of sleep.</p>
<p>Law school doesn’t make that much difference when it comes to making partner, except insofar as it helped you find a mentor earlier in your associate career. Being the one Georgetown grad in your class when the partners largely went to Harvard and Yale may make it tougher to get someone powerful to take you under his wing…which is a HUGE part of eventually making partner. Not only does he swing votes your way when your name comes up in 8 years, but (more importantly) he steers good work your way early on so that you can build a great firm resume.</p>
<p>so, Hanna, do most new lawyers pick a firm with influential, fellow alumni? Is this an aspect that one needs to consider when choosing one’s first firm?</p>
<p>I cannot believe some of you are worrying about this right now.</p>
<p>Get into a law school and pass the bar, first.</p>
<p>This is usually not a big issue in picking firms because firms hire from the same schools year after year (and decade after decade), so chances are, there will be partners from your school.</p>