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About Coolname

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  1. I agree with this statement generally. However since I started articling in early 2019, I focused more on my loan than the market as the risk free 4% return I got from paying down my loan* seemed like a better risk/reward balance than investing in an index at that point in time. (I was bearish way too long to pretend I “timed” the market though) At some point in the future once the market seems to have bottomed I’ll switch to being more market heavy. *I find it helpful to think of paying the loan down as investing in something with that return. As paying down the loan, vs investing in something offering that rate of return would put me in the some net financial position year over year.
  2. I live in a smaller place so one day I’ll be able to drive a 911.
  3. My exact question, but I’d combine billable and non-billable during articling, as there isn’t really a difference between the two during articling (at least there wasn’t for me) and if it’s 250 in the office, how much time are you recording per day?
  4. I could believe 800k, but I would expect (as a know-nothing junior associate not working at a big firm) it would consist of lots of partner making 600k or so and a few making boatloads of money who drag the average up.
  5. I landed my articling job from a Wednesday afternoon interview. Call day was on Thursday. So you aren’t out of the running.
  6. I’m in Vancouver and have done both solicitor and litigator work at two different small firms. At both firms I’d say my median day is around 9.5 hours. Typically show up a bit before 8 and leave a sometime between 5 and 6. The average day would be a bit longer, but it’s skewed because occasionally days will be longer (in trial or middle of a deal), but rarely are they shorter than 9. Working a median of 45- 50 hours is entirely possible at the right firm, but expect the average to be higher because there will be occasional 60 hour weeks. Working a median 40 hours is much less likely. There is a big difference between 40 and 50 hours a week.
  7. I avoid it at all costs. Yes, if I have a doctors appointment or something I can attend that during the day (I imagine most white collar professionals can do the same), but otherwise the day is for work. My goal everyday is to bill as effectively as possible, an ideal day (but obviously not possible) would be to attend work for eight hours and bill eight hours. Having to do anything non-work related just means I have to stay later. When im at work, I try my best to just work. When I’m not at work, I try my best not to work. I’d much rather stay late to complete a pressing task than finish the task at home or on the weekend. When I do have to work on the weekend, I’ll go into the office instead of working from home (unless it’s a very short task). Everyone has there own ways of handling a work load, but I much prefer strict divides, or at least as strict as possible, given work demands. I really like my job and don’t even mind working on the weekend, but I also like to be able checkout from my job, and keeping boundaries between work and non-work helps me do that.
  8. Yes, because people know how much you make, and it isn’t enough to be spending 1000 on a pair of shoes.
  9. And the “gift” at that point would just be coming from what would otherwise be a year end bonus.
  10. I started with a messenger back, and later switched to a backpack. Carrying heavy text books in a messenger back sucks.
  11. There is never too early of a time to propose a fee split (though, junior lawyer likely doesn’t want to be on pure fee split right away). That said, simply being on a fee split doesn’t mean more compensation automatically. It can be easier to negotiate a higher possible compensation through fee split though because the employer isn’t taking on more risk, but you still need to bill the hours.
  12. Whatever you say Mr. “I’m only doing okay on my household income of 300k per year”
  13. https://www.google.com/amp/s/fee.org/articles/you-are-richer-than-john-d-rockefeller//amp I also think this article is relevant, while all his examples are not perfect, I think we would all rather live our current lives than the life of Rockefeller in 1916, making our standard of living higher than a Rockefeller.
  14. I almost started to feel sorry for the people posting in this thread just scrapping by on their pitiful salary but then I remembered I’m only making an articling student salary in Vancouver (50’ishk) and my quality of life is amazing. Can I buy every thing I want, no, but I can buy everything I need (and even those things I “need”, but don’t really need). I can’t eat out every night, but I can take my girlfriend out for a nice dinner once a month and remain well within my budget. Can I afford to buy a house, obviously no, but I’ve been out of school for one year. My parents couldn’t buy a house after working for one year either and when they did it was an hour away from downtown. I can however rent a nice one bedroom apartment and I can afford to buy real non-ikea furniture for it(granted the furniture was gently-used). On top of all of that, I’ve been slowly paying off my debt(at a slow pace, but it’s going down). Seriously, I just don’t get what all the moaning in this thread is about. A 50k salary is more than enough for someone without kids to live comfortably, and people in this thread are complaining about 100k salaries? Get a grip. The real issue isn’t high cost of living, but people’s outrageously high expectations of living at such an stage in their careers.
  15. I think from the fact of my short time frame I am using it in a very narrow sense. Definitely far more narrow than should.
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