Monday, June 14, 2004
New York City summer associate weekly salaries top $2,500 this year (well in excess of median law professor weekly salaries, proving the bromide that “those who can, do; those who can’t, teach”) .
Monday, June 14, 2004
New York City summer associate weekly salaries top $2,500 this year (well in excess of median law professor weekly salaries, proving the bromide that “those who can, do; those who can’t, teach”) .
11 responses to “Summer Associate Weekly Salaries Top $2,500”
Geez…wish I could get a clerkship that paid that well! Or at this point (I’m taking the bar now), I’d settle for a job as an associate attorney making less than half that! (Anybody know anyone looking for someone in San Antonio, TX?)
But remember — that salary is for New York. All that extra money probably goes to pay their rent on their short-term, outlandishly expensive studio apartments.
Would you like some fine French cheese with that whine?
I was planning to start work in the fall as an associate at a New York firm, but I’d be willing to give up a few bucks in compensation to enjoy the perqs of a career in legal academia. How ’bout we trade?
As a former Chicago-based associate, I can tell you that those “highly-paid” big-city associates will find all that money is insufficient compensation for the abuse, hours, and stress of the job. It is hard to describe the rigors (and plain old bullsh*t) of working in a large city, large firm environment to professors (and students) who only see the salary.
Out of my 10 close friends who went to large firms in large cities all across America, only one is still in that environment 7 years later. None of the other 9 envies his life.
I’ve known many former classmates who, after prestigious federal appeallate clerkships, refuse to stay at the large city sweatshops. Hardworking grinds in law school and after, they simply refused to take the cr@p that comes with the job. And once you have children, the hours are simply incompatible with being a good parent.
But, hey, prof, you want that money, I’m sure a large firm would give you a slot as a first year associate in their tax department. Feel free to give up that comfy tenure and go for it. There a are thousands of well-paid associates who would kill for your low paid job.
Work in a firm for a year and you will know why.
Along the lines of law students earning more than law faculty:
I just graduated law school. I was an evening student at a D.C. school, and worked as a law clerk at the D.C. office of a well-respected New York firm. Law clerks at this firm (and certain other firms around town) are paid a base rate of $45/hr for 35 hours a week, plus time-and-a-half for overtime, and doubletime for work done on Sundays, holidays, or after midnight. With that compensation structure, it is very easy to rack up a lot of money (over $1k for 10.5hrs of work, to include travel to and from the office, every Sunday). Hence, the last few years my salary as a law student (and as a summer associate elsewhere, while taking a leave of absence from my full-time gig) equaled or exceeded the salary of a first year associate. For tax year 2002 I earned over $140,000. I started at the firm with absolutely no legal experience as a paralegal, and was promoted to the law clerk position just over a year later, after completing my first year of law school. I’ve always thought it a little strange to be getting paid so much, but I’ve certainly never complained about it.
Tax Law Professors Bemoan …
… summer associate salaries.New York City summer associate weekly salaries top $2,500 this year (well in excess of median law professor weekly salaries)True story: At one graduation ceremony back when I was teaching at Illinois, a young man came up
I made $2400 a week in Philly last summer. We didn’t do a lot of work, but it was still a lot more rigorous than your typical tenured lawprof’s summer. Break down a law professor’s salary to an hourly rate–$100K a year for 9 months of work = $2,667 a week divided by (and I’m being very generous) 20 hours of work per week = $133.35 per hour. I worked 50 hours a week as a summer associate, $2400 / 50 = $48/hour. I’m sure it’ll be closer to 70 hours a week when I start this fall, which brings my rate down to $34.28. Like others have said, I’d trade my big firm job for a tenured position at a halfway decent law school every day of the week and twice on Sunday.
…and don’t even bring up all the time devoted to your “scholarly pursuits.” I was on Law Review; I know how it really works: the prof scrawls a few crackpot ideas on a bar napkin and we do the heavy lifting.
I smear poo on the pleadings
I didn’t produce much of value when I clerked at Cravath, but then, I wouldn’t have had to to make a more positive economic contribution than the average law professor.
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