Nobody.ghostoftraynor wrote:Who is making $900k and working a 9-5?
At that salary you're either working a whole lot more, or a whole lot less
Nobody.ghostoftraynor wrote:Who is making $900k and working a 9-5?
Top-level administration (provosts, GCs, CFOs, etc.) at top private universities are getting pretty close nowadays. But that's why it's such a unicorny job.FND wrote:Nobody.ghostoftraynor wrote:Who is making $900k and working a 9-5?
At that salary you're either working a whole lot more, or a whole lot less
What about this dude:objctnyrhnr wrote:I have never met anybody who has a literal passion for transactional law. They may exist, but I have never met them. By contrast, virtually every litigator who litigates at a high level and is good at it has a decent degree of passion for the craft.
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The exit ops are marrying a child of a client. You know all their financials.1styearlateral wrote:But you have the amazing opportunity to hook up with a wealth manager. Even at a small office, you make an amazing living with top quality life. All of your clients are referred to you by your “partner,” and you just charge a flat fee for each will, trust, etc.Anonymous User wrote:I got very lucky. It wasn't what I wanted to do, but the only job I could find when I graduated was T&E - even though there weren't a lot of positions for it, nobody wanted to do T&E, everyone thought it was a dying field.legalese_retard wrote:I never wanted to do litigation, but there weren't many transactional jobs available when I graduated law school.
Right now, I'm a hot commodity. Nobody has experience with high-end T&E, most firms I talk to have been turning away business because they either don't have the capacity or the expertise. In my secondary market, fully half the law firms with 100+ attorneys are actively looking for people with real T&E experience, some of them with public postings for more than half a year already.
I'm very happy with it. It's the one legal specialty where you can control your schedule - clients schedule their appointments weeks in advance, you rarely face short deadlines (except if someone is actually dying), the only part of my practice I have no control over is when the work comes in... but there's so much of it right now, that that's really not a problem.
The big downside is that there's just about no in-house opportunities.
I knew a guy that had this setup and was making a cool $450k/year charging $1,500-$2,000 a will (and maybe more depending on how complicated) and spending most of his time on the beach, traveling, golfing, etc. If you get hooked up with the right person you could have a constant stream of business and pump out wills and trusts like hot cakes.
Yeah, I think transactional makes perfect sense for people who aren't passionate about the law. Get a decent in-house job, work humane hours, and make a good living. There's nothing wrong with that. A lot of people work jobs they don't particularly like for a lot less money than in-house counsels make.objctnyrhnr wrote:I have never met anybody who has a literal passion for transactional law. They may exist, but I have never met them. By contrast, virtually every litigator who litigates at a high level and is good at it has a decent degree of passion for the craft.
LOL. That man has Get Out eyes for a reason.JusticeSquee wrote:What about this dude:objctnyrhnr wrote:I have never met anybody who has a literal passion for transactional law. They may exist, but I have never met them. By contrast, virtually every litigator who litigates at a high level and is good at it has a decent degree of passion for the craft.
https://www.youtube.com/watch?v=C0XWSBA ... be&t=1m26s
"my best memoies of practice were the all nighters"
"just looking at clause 9.2 and the way it interacts with 7.6"
he is dead inside, Jones Day killed him and ate his soul
There are a lot of transactional tax nerds who have a passion for it. I doubt anybody really has a passion for basic drafting, but I know a people who really get into negotiations.objctnyrhnr wrote:I have never met anybody who has a literal passion for transactional law. They may exist, but I have never met them. By contrast, virtually every litigator who litigates at a high level and is good at it has a decent degree of passion for the craft.
Even better - marry some old widow/widower, make yourself the heir.Johnnybgoode92 wrote:The exit ops are marrying a child of a client. You know all their financials.1styearlateral wrote:But you have the amazing opportunity to hook up with a wealth manager. Even at a small office, you make an amazing living with top quality life. All of your clients are referred to you by your “partner,” and you just charge a flat fee for each will, trust, etc.Anonymous User wrote:I got very lucky. It wasn't what I wanted to do, but the only job I could find when I graduated was T&E - even though there weren't a lot of positions for it, nobody wanted to do T&E, everyone thought it was a dying field.legalese_retard wrote:I never wanted to do litigation, but there weren't many transactional jobs available when I graduated law school.
Right now, I'm a hot commodity. Nobody has experience with high-end T&E, most firms I talk to have been turning away business because they either don't have the capacity or the expertise. In my secondary market, fully half the law firms with 100+ attorneys are actively looking for people with real T&E experience, some of them with public postings for more than half a year already.
I'm very happy with it. It's the one legal specialty where you can control your schedule - clients schedule their appointments weeks in advance, you rarely face short deadlines (except if someone is actually dying), the only part of my practice I have no control over is when the work comes in... but there's so much of it right now, that that's really not a problem.
The big downside is that there's just about no in-house opportunities.
I knew a guy that had this setup and was making a cool $450k/year charging $1,500-$2,000 a will (and maybe more depending on how complicated) and spending most of his time on the beach, traveling, golfing, etc. If you get hooked up with the right person you could have a constant stream of business and pump out wills and trusts like hot cakes.
I call bull. Not on the math, but on a wealth manager bringing in 300 new clients per year who all need wills.1styearlateral wrote:But you have the amazing opportunity to hook up with a wealth manager. Even at a small office, you make an amazing living with top quality life. All of your clients are referred to you by your “partner,” and you just charge a flat fee for each will, trust, etc.Anonymous User wrote:I got very lucky. It wasn't what I wanted to do, but the only job I could find when I graduated was T&E - even though there weren't a lot of positions for it, nobody wanted to do T&E, everyone thought it was a dying field.legalese_retard wrote:I never wanted to do litigation, but there weren't many transactional jobs available when I graduated law school.
Right now, I'm a hot commodity. Nobody has experience with high-end T&E, most firms I talk to have been turning away business because they either don't have the capacity or the expertise. In my secondary market, fully half the law firms with 100+ attorneys are actively looking for people with real T&E experience, some of them with public postings for more than half a year already.
I'm very happy with it. It's the one legal specialty where you can control your schedule - clients schedule their appointments weeks in advance, you rarely face short deadlines (except if someone is actually dying), the only part of my practice I have no control over is when the work comes in... but there's so much of it right now, that that's really not a problem.
The big downside is that there's just about no in-house opportunities.
I knew a guy that had this setup and was making a cool $450k/year charging $1,500-$2,000 a will (and maybe more depending on how complicated) and spending most of his time on the beach, traveling, golfing, etc. If you get hooked up with the right person you could have a constant stream of business and pump out wills and trusts like hot cakes.
In this instance, it's not just a one-man shop, but a family office.Anonymous User wrote:I call bull. Not on the math, but on a wealth manager bringing in 300 new clients per year who all need wills.1styearlateral wrote:But you have the amazing opportunity to hook up with a wealth manager. Even at a small office, you make an amazing living with top quality life. All of your clients are referred to you by your “partner,” and you just charge a flat fee for each will, trust, etc.Anonymous User wrote:I got very lucky. It wasn't what I wanted to do, but the only job I could find when I graduated was T&E - even though there weren't a lot of positions for it, nobody wanted to do T&E, everyone thought it was a dying field.legalese_retard wrote:I never wanted to do litigation, but there weren't many transactional jobs available when I graduated law school.
Right now, I'm a hot commodity. Nobody has experience with high-end T&E, most firms I talk to have been turning away business because they either don't have the capacity or the expertise. In my secondary market, fully half the law firms with 100+ attorneys are actively looking for people with real T&E experience, some of them with public postings for more than half a year already.
I'm very happy with it. It's the one legal specialty where you can control your schedule - clients schedule their appointments weeks in advance, you rarely face short deadlines (except if someone is actually dying), the only part of my practice I have no control over is when the work comes in... but there's so much of it right now, that that's really not a problem.
The big downside is that there's just about no in-house opportunities.
I knew a guy that had this setup and was making a cool $450k/year charging $1,500-$2,000 a will (and maybe more depending on how complicated) and spending most of his time on the beach, traveling, golfing, etc. If you get hooked up with the right person you could have a constant stream of business and pump out wills and trusts like hot cakes.
Don't get me wrong, I know plenty of EP boutiques where the owners make bank, including a few who make over a million per year. But nobody I know has a single referral source that can even send 100 referrals in a year. Even better, a wealth manager can't effectively manage much more than a hundred, maybe 125, clients, period.
Not true. I know several.FND wrote:Nobody.ghostoftraynor wrote:Who is making $900k and working a 9-5?
At that salary you're either working a whole lot more, or a whole lot less
A lot of small firm partners do similar numbers. They just never talk nor brag about how much they make. Why would they want to inspire everyone else to do the same? If your name is on the door you can make a lot of money. Most lawyers, however, would never do such a thing no matter how much money they could make.Anonymous User wrote:Not true. I know several.FND wrote:Nobody.ghostoftraynor wrote:Who is making $900k and working a 9-5?
At that salary you're either working a whole lot more, or a whole lot less
Example: I worked for a small firm near my hometown after my 1L year. I worked mostly with one of the firm's named partners. He works 9-5 M-F except he takes off a half day Wednesdays and Fridays to Golf in the summer. He told me that since opening his small real estate firm twelve years ago, he has never had a year in which he billed less than $800,000 and additionally he earns between $200,000 and $400,000 of contract (non-billable) work. He's easily over $900,000/year working a 40 hour week.
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Yeah, it exists. I summered at a biglaw firm where one of the biggest rainmaker partners was almost never in his office working. I'm sure he put plenty of time into business development and courting clients, which is what made him a rainmaker. But I doubt he was working 40+ hours per week. He was making millions per year. But that sort of setup is definitely not the norm.Anonymous User wrote:Not true. I know several.FND wrote:Nobody.ghostoftraynor wrote:Who is making $900k and working a 9-5?
At that salary you're either working a whole lot more, or a whole lot less
Example: I worked for a small firm near my hometown after my 1L year. I worked mostly with one of the firm's named partners. He works 9-5 M-F except he takes off a half day Wednesdays and Fridays to Golf in the summer. He told me that since opening his small real estate firm twelve years ago, he has never had a year in which he billed less than $800,000 and additionally he earns between $200,000 and $400,000 of contract (non-billable) work. He's easily over $900,000/year working a 40 hour week.
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