Just a random thought when making coffee before working on an issues list on this beautiful Saturday afternoon.
Question: For people who treats biglaw as a long-term gig, is it a fair statement that that money will never be an issue again for the rest of your life?
(I am lazy and omitted all qualifiers, but you get the idea.)
More context: I went through a poor phase in my 20s where I was constantly worried about money. Law school made it worse. That’s where I saw how rich kids (no hate!) and rich people in general (like some professors) lived their lives. When they went to Napa for a weekend trip, I was shopping for the cheapest thinnest toilet paper at Walmart.
I am now 4th year in a V10. I found the practice area I enjoy, and like the folks I work with (I think the feeling is mutual). I typically bill 2100\~2300 hours and find it overall manageable, so I want to do this for as long as my firm let me.
Even if I don’t make partner, it seems like the V10 on my resume can still open many doors, so I won’t be too unemployed? Maybe an in house job for $200k? It is still a lot of money for average Joes. Is that the worst case scenario? (EDIT: apparently it is def not the worst case scenario and thanks for everyone who brought it up. It’s honestly the data points I’ve seen for people who left but agreed it’s a very biased data base.)
I saw the Rolex, Chanel bags and BMWs my peers have, and I want those too. Not in a crazy way, but just a desire to enjoy some luxuries here and there. Emotionally, I feel financially irresponsible to pull the trigger, but the $$ in my bank account and the future earning trajectory seems to say it’s okay.
Maybe I need to talk to a therapist or finance advisor about it, but curious about everyone’s thoughts and experiences!