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Designated1

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  1. Frankly my fear is exactly whether financially it'll make sense as I do have family relying on me financially. Of course, I can manage through law school via savings and part time management of my work, but expect to rise better if not same level financially. Terrible thing to potentially base these decision on being finances, but again, practically I need to consider this as well. Thanks for clarifying the ranges of incomes. My business is an investment consulting firm where we manage money and invest (many different places from portfolio management to different real estate assets) for professionals and individuals such as lawyers, doctors, and business owners. The clients I have come across few lawyers were generally in those ranges so I assumed as such, but those might just been "very few" bucket that was brought. COVID made me realize while great years I was fortunate to make great money, the down side was quite significant where investments were depleted and that's what got me thinking.... Not to say the impact of similar instance will not impact lawyers, but somewhere along the lines, I felt there was some level or stability with it. Perhaps the opportunity cost or risk is far too high, and not worth while to wager as there are financial responsibilities I have towards my family. Lots to think about but I appreciate everyone of you to kindly, politely and honestly giving me a perspective.
  2. Thanks for the honest input. It took me quite some years to get to this point and I am thankful to those around me who support me in being able to earn what I do. its discouraging to see that it takes that long for someone to go through rigorous grad schooling to then earn this. I was hoping that the stability would rather is around the same figure but of course doesn't seem immediately. I hear you...While I can't comment on quality of education at Cooley (Thomas Cooley I assume you mean), the mantra is generally to suggest that education/learning/experience will not go to waste an will pay dividends. I am sure those going to this Cooley, must also gain some experiences that are add some value... 300k sounds too much particularly when quality and reputation of institution is often questioned. You bring up an interesting good thought, of being happy. 10 years back, I would have comfortably said "yes, or id like to think so"...whether the happiness comes from actual job, money or fulfilling passion. At my age, staying practical is more crucial than to appease any passion at this time. If I can keep the same lifestyle for myself and family, id say yes... I would happy and would enjoy the job as a lawyer... that said, I am not sure how long it'll take me to reach there financial, let alone loss of income.
  3. Thanks for the input. COVID has given me an interesting perspective. I have been very fortunate to do what I do and manage a decent life, but business is always shifting, for better or for worse no one knows. It is also true that having a law degree has similar risk and doesn't decrease per say, however I remember growing up that any type of education one gets, will always someone how pays its dividends... for a law degree for me would be to have business manage by family on side, until I look to get to same income levels in it and hopefully count on something more permanent. With a professional degree, I would always have some level of backup support wherein business its as good as it operates... ALSO +1 to the thread, any mature students that have gotten their degree part time at all that can share their experiences ? thanks again to everyone in helping me better evaluate this option for future. I understand now why they say go to school while you are young!
  4. Business is always tough to predict, comfortably I think $ 250k to $ 300k. Theres years where I've been able to manage high $ 500s too. I'd like to think granted I am working hard and putting in hours (which on average I work minimum 10 hours a day), I can at least keep same level of income for my family...because our expensive are also relative to it now. Just curious more do I have the range above morellos in line or am I off ?
  5. Hello Everyone, Very long time ago, above 10+ years ago, I was a young 24 years old man with BBA and wanted to steer my career towards being a lawyer. Making a long story short, my LSAT wasn’t quite up to par as i would often feel anxiety with standardized test and it quite honestly the score discouraged it. I felt defeated and gave up on wanting to be a lawyer. Years go by, for better or worse, i started my own business and i am very happy with it and have great earning now and for future as well. COVID helped me put things in perspective that perhaps it wouldn’t be a bad idea to consider going to law school at 35.. Perhaps not best decision but with some downtime i took the LSAT and scored 169. At this point in life, making such drastic move to going to school means significant loss of income, let alone increased family responsibilities and age ( i am simply not 25 anymore and far more forgetful). Short answer and help i need to better understand following please: - How is law now from saturation stand point in securing job opportunities ? - Lucrative areas of law that pay and on average what can a lawyer expect ? - Working for DT firms OR own practice (i.e. from financial earnings) While you consider answering this, please understand and respect with someone at this life stage, earning potential and range is very important factor for me in considering this. I have seen an influx of great foreign trained lawyers in Ontario, many who are in independent practice closing real estate deals. I would generalize in 3 categories with these earning potentials (1) Indepepdents $ 100k to $ 300k (2) Downtown Big Firm associates, $ 200k to $ 350k, $350k+ you can entering to be partner potentially and (3) Working Corporate (i.e. employed as Legal Cousel) $ 90k to $ 160k. Again, this is based on real life examples from my current business so much of information i am basing this, is from experience and first hand. But want to make sure examples i have witnessed are a good re presentation of what’s actually out there... Of course, all this is under assumption that admission is offered. Please and thank you
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