Who has made more over the last few years: real estate investors or their lawyers?
Quotes from anonymous partners on how they justify the Big Law grind...
"My love of money exceeds my hate of BigLaw. It's as simple as that. I grew up in poverty and now have more money than maybe the entire aggregate of all my ancestors combined."
"I recently looked up the median household income in my little hometown - it is the same as my monthly draw. I am going to collect these checks until I can’t anymore because I want my spouse and kid to not have to do the same."
"I tell people don’t do it for the money. Do it for a shit ton of money."
"Money. Seriously, it ain’t rocket science."
"I make millions of dollars a year. At this point it's not about my life, it's about my family's life and setting my kid up for what I view as an extremely uncertain future."
"Earning potential is heavily firm dependent, but the gulf between equity partners and average in-house compensation can be massive. At my firm, for example, a first-year equity partner is earning around $2 mil and it only goes up from there with a high end over $20 mil. By the end of a career and with smart investment and lifestyle decisions, a decent number of equity partners at my firm are approaching / surpassing 9 figure net worth because compounding returns are magical."
PS -- $1000/hr used to go a long way, even in Big Law. Now it might get you an associate. Will rates continue to grow in a slower market and in the face of AI?
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