Biglaw bumps salaries to $180k

<p>you only have to work 80-100 hours for your twenties, the so-called best years of your life. i was interested in law before, but the salary numbers make it all the more attractive.</p>

<p>Sachmoney, I'm not sure if you're implying, in post 21, that you work those hours for your twenties, then leave 'biglaw'? If so, then I suppose that is a possibility. However, if you are implying that if you work those hours in your twenties then you don't have to, or that you aren't expected to, work those hours at a 'biglaw' firm later in your career, then you are mistaken.</p>

<p>Just to clarify the non-existent salary bump, yesterday Simpson Thacher confirmed in a memo that, at least for now (and given the state of the economy, probably for the foreseeable future), salaries will stay exactly the same. I think most associates will simply have to find a way to be happy with the jump in salary that comes from moving up a class year even without a "bump". </p>

<p>
[quote]
SIMPSON THACHER & BARTLETT LLP
MEMORANDUM TO ALL ASSOCIATES AND COUNSEL</p>

<p>Effective as of January 1, 2008, the annual base salary for each class year will be as follows</p>

<p>Class of 2007 - $160,000
Class of 2006 - $170,000
Class of 2005 - $185,000
Class of 2004 - $210,000
Class of 2003 - $230,000
Class of 2002 - $250,000
Class of 2001 - $265,000
Class of 2000 - $280,000
Class of 1999 - $290,000</p>

<p>Salaries for counsel and classes senior to 1999 will be addressed on an individual basis and discussed with those individuals during the Annual Review process. Increases will be reflected in the January 30, 2008 paycheck. </p>

<p>January 14, 2008

[/quote]
</p>

<p>I'm sure that you've heard the oft quoted maxim about biglaw associate salaries: they pay more than anyone else -- and it's all minimum wage. In other words, be prepared to live at the office. Thanks, but no thanks.</p>

<p>I think I was being kind of sarcastic, but I really don't know what I meant. Like the way I feel now, the hours seem awful, but if I do Wall Street or something, I'm going to be doing the same thing. I'll probably want to do law, then go get an MBA or MFin and get into Wall Street. I do want that law background, in case I want to go into law later down the line. I'm really into doing something in Civil Rights right now, so I don't know how attractive Big Law is for that. May be lobbying or something in Washington.</p>

<p>The fact is if you want the big $$ you're going to have to put in the hard work/hours. It's the same for every business. If you could do something for 40 hrs/week and make huge $$ everyone would be doing it. These opportunities are few and far between.</p>

<p>Also it depends on where you work gbesq. If you work in NYC then yes, better bring a pillow to the office. If you work in LA, SF, DC it's not much better (but it is, a little). However in other places, such as Houston, you're average hours worked is around 55...not too bad for 160k pay.</p>