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<p>You are starting to argue apples and oranges. The odds of making equity have always been small, even in good times. My wife has a shot at making it by her 20th anniversary after graduation from law school. And if she doesn’t, she’s still making a good living considering how much it costs to live here. </p>
<p>One can’t be “pushed out” of Big Law after 4 years unless one has a job in Big Law, which you were just arguing isn’t happening. No one should ever go into law depending on the idea they’re going to make equity and it doesn’t even factor into the idea about whether attending law school is a good idea. </p>
<p>The fact is, many if not most associates here in Flyover-Country, where we live, leave voluntarily for in-house jobs at various companies. Some stay in law, others transition to the business units, where a JD is the new MBA. Some never had any intention of staying in a firm environment, they always wanted to transition to in-house, others hate billing their lives in 6 minute increments, others are impatient and are lured by seemingly lucrative pay packages when they’re within a few years of making partner, when the real dollars kick in. There are a million reasons why associates leave, but few are actually pushed out, retention is actually a problem, but all generally continue to earn a good living after leaving a firm environment. In-house jobs are not poverty level, and sometimes pay even more than BigLaw, depending on the firm and the job one does in-house.</p>
<p>Law is like every other profession, the cream rises to the top, though there is a significant proportion of the industry who rises on connections alone. Hard work and skill are generally rewarded, but it is not a license to print money.</p>