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setto

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Everything posted by setto

  1. To OP, I can't stress enough how great auto deductions can be - at least for my personality. It's like you never had the money at all and you tend to stress less about how much income is going toward debt.
  2. But again, nobody is claiming that. It's possible to enjoy both large transaction and making money simultaneously. The fact that people in larger firm environments get to do both at the same time doesn't diminish that they are passionate about what they do. I work for a small(er) office of a national. Many people throughout my firm have connections with their communities - either through hours of pro bono they do every week, sitting on boards, fundraising for victims of the latest disaster, etc. I just don't think it's fair to say people practicing in these environments aren't passionate about the work they do just because they also happen to enjoy the pay. I think it's a shame that eeee feels the way they do and I understand that often times lawyers will become disillusioned with their practice. So I hope they can find something that makes them happy and able to connect with friends, family, and community.
  3. I don't think anybody took issue with saying corporate lawyers like making money? I certainly didn't mean to come off that way. The problem was with statements like these:
  4. Because comments like these just aren't true: Further, the salary discrepancies between national firms and small shops in other jurisdictions (Edmonton, Winnipeg, etc.) aren't exactly all that significant (at least for juniors) despite having billable targets that reflect the larger jurisdictions. Some people at these firms are genuinely passionate about the subject matter they deal with.
  5. Or the fact that you work on the largest transactions or get to be involved in areas smaller firms can’t really touch. yep. It’s for sure greed.
  6. I'm pretty sure some people pursue a career in law for, inter alia, the cool words.
  7. What a terribly stupid thing to say.
  8. Sounds like an opportunity to demonstrate some initiative! Set a meeting with one of the lawyers and propose a blog post in their field that could drum up some business. Write the blog, have them review it and co-author it. Post it and share on LinkedIn, Facebook etc. Worst case scenario: nobody clicks it. But it is a LOT better for your firm and your practice/professional development, than scrolling through your phone.
  9. Does your firm have a website with a blog? If so, ask if you can publish something. If not, ask if you can start one.
  10. Herein lies the problem of a multimillion dollar organization being run by people with law degrees and no experience running a business. I'm lucky to work at a firm with many who advise corporate clients on day to day matters and understand the ins and outs of a business. However, I wouldn't expect as much from some shops that don't work in the field. It's very possible to be a successful lawyer who is brilliant in their practice area who has no idea how to run an office. It's why some firms move to more traditional business layouts and organizations (CFO, accounting staff, HR, etc).
  11. Well that, the hours, managing firm and client expectations, and the stress.
  12. Use it as a motivator. There's always going to be a bigger fish (#QuiGonJinn). There will always be someone more talented than you or better than you at something. Do you think when you usurp that person's spot you'll actually be the best? Maybe in that practice group of your office. What about your firms other offices? Nationwide? Worldwide? Some people are crushed by this knowledge and others are motivated by it. Others look at it like chess and relish in the fact that they are surrounded by people who are better than them - it's the only way you'll grow and learn. Some days are tough and it's really hard not to envy others, but with a bit of introspection you realize that can be toxic and won't help you in the least in the long run. I legitimately hope you become the best at what you do because it will motivate those around you.
  13. When feeling bored or aimless, it never hurts to reread this fantastic post by Uriel:
  14. I think I read somewhere that real estate lawyers get hit with sanctions from law societies more than any other practice area. Tight deadlines and high volume in a sector wrought with fraud is bound to lead to some trouble.
  15. Even the same area of law but different firm. Job postings (in the 3-5 yr range at least) frequently ask for grades - "Looking for a candidate with excellent academic credentials" or something along those lines is often seen. To OP, grades might not matter *as much* to you as they do for a classmate who doesn't have an articling position lined up, but they still matter. My take on grades after landing a 1L OCI spot and articles during 1L summer was that I could just enjoy the classes I was taking as opposed to freaking out about grades. It took some of the pressure off, but I still tried my hardest because I wanted to actually learn the material for practice. Long story short - grades count. At least early in your career.
  16. I don't have the data or experience to make that statement, so I'll defer to your expertise. Any actual data on lawyer's total compensation is frustratingly hard to find. It's akin to finance... but with professional corporations fudging the numbers even more. You look at docs like this: http://www.quadcom.gc.ca/archives/2007/Media/Pdf/2007/Resources/CommentsNavigant Report.pdf And get the impression that most lawyers are making $1,900/wk (~98k/yr) (or at least they were in 2007). But the sample sizes are small and it's wrought with statistical issues. At the end of the day, it doesn't change my stance: don't base loan repayment on some figure you think is guaranteed. Nothing is.
  17. **$1,900/week. Though I think they typo emphasizes your point that the numbers being thrown around aren't representative of what many lawyers actually bring in. To OP: when planning out debt, assume the worst and base your debt load on what you can pay when shit inevitably hits the fan. You will be paid well as a lawyer but a lot of the time it's backloaded to the end of your career. Plan on the lower end of the pay spectrum when you are articling, junior (and midlevel to some extent in some practices). $1700 is a lot anywhere you practice. Let's not forget that a lot of the salaries thrown around for lawyers are commensurate with cost of living in the jurisdiction and the hours your work.
  18. Well, just north of 6 figures is a great salary. Though I'm guessing from your post (and please correct me if I'm wrong) that you're in crim defence? If so, I feel like just north of 6 figures after 5 years is lower than some of the salaries I've heard of. Unless you're in a smaller jurisdiction, in which case the 6 figures is amazing money. You also need to consider the burn-out in big law. A lot of people think they won't be one of the associates who finds themselves overwhelmed, depressed, and burnt-out from big law but it's a decision many lawyers make after 3 years. Some decide to quit private practice all together because they've had enough. Is that extra 30-40k worth it? I agree with you and sometimes want more. But maybe it's a grass is always greener type thing.
  19. Doable but shitty. I basically made my course selections based on the exam schedule...
  20. You're interested in private equity, science, tech and space. I feel like venture capital and startups would be perfect for you.
  21. It used to mean someone who will throw others under the bus in an attempt to get better grades/further their goals. For example, not sharing things with their study group, the fabled ripping out pages from books in the library, put their accomplishments on display, etc. In some schools the term has evolved into the same meaning as keener - someone who is involved in everything, an over achiever, answers every question in class, etc.
  22. https://lawstudents.ca/forums/forum/18-us-and-other-foreign-schools/
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