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"BTW, why are you making so little? I think most entry level lawyers in Manhattan are making $200,000. "
Who the hell are you? That's our combined income. I'm starting at $125, she at 85K (she works at a Big 4). No, most entry level lawyers don't start out at $200 in Manhattan, Mensa. The highest paid ones there are start at 160 now, and you work like an absolute dog. Just like drinks aren't $8-15 everywhere in Manhattan.
What do you do for work? Sounds like a guy with an opinion on everything, yet I bet at most you have a 4-year degree and are still sucking on the parental teet.
[quote=texags02;2886829]"BTW, why are you making so little? I think most entry level lawyers in Manhattan are making $200,000. "
Who the hell are you? That's our combined income. I'm starting at $125, she at 85K (she works at a Big 4).
Wow, typical lawyer - it's interesting to note that you only replied to a question about salary and get touchy about it. You'll fit right in with the insecure NYC transplants from Podunk, TX.
No, most entry level lawyers don't start out at $200 in Manhattan, Mensa. The highest paid ones there are start at 160 now, and you work like an absolute dog.
You're going to work like a dog too, except you'll be making less than the other lawyers. Couldn't get into Columbia/NYU Law?
Just like drinks aren't $8-15 everywhere in Manhattan.
Someone from TEXAS, is telling ME how much drinks cost in Manhattan?
Good luck hanging out in dive bars and drinking $4 PBR. But your girlfriend, just like every girl from Podunk, will figure out she wants a guy who can afford to spring for her $18 Cosmos, get her bottle service at Marquee, and has a nice pad in Manhattan, instead of Jersey.
What do you do for work? Sounds like a guy with an opinion on everything, yet I bet at most you have a 4-year degree and are still sucking on the parental teet.
I'm studying for my GED while living at my parents' house in Jersey. They've agreed to foot my tuition at BMCC, where I hope to pursue an associate's degree in Social Work. They'll pay for my apt in the city as long as I stay sober from crystal meth.
So Houston, Texas is "Podunk"? Ok, buddy. As far as how much I'll work relative to others..tell us, how could you possibly know that? As far as where I went to law school, I'm from Texas. Why would I go to NYU/Columbia? Isn't it funny that I'm so far beneath NYU/Columbia, and yet they're hiring me to work right alongside the people who went there-all the way from "Podunk", Texas? Further, what do you even KNOW about law school? Absolutely NOTHING. You don't know where I went. You don't know anything about me or my gf. What we ALL know here, however, is that I'm more educated than you are, and judging from your pathetic posts, have a much brighter road ahead of me than your stupid ass. So tell us, what do you do? Where are your degrees from? So quick to insult people that are obviously much more intelligent than yourself (in addition to being better people), yet you won't give a serious answer to that question. The fact that you won't is pretty telling. What a pathetic dewshbag.
2. Take Home pay normally is around 65% of gross for people who make lkess than 90K and about 60% for people who make more than 90K. NY City Tax is huge with NY State Tax. It does not matter where on earth you stay, you will pay NY State, NY City and Federal Taxes.
3. Putting in 401K will eventually reduce your take home pay though it reduces the tax. It is like giving it to the government now for you to feel happy. Once you withdraw as you retire, you will pay Tax anyway. Money is just locked up. Taxes cannot be avoided. Better pay it now than pay later and cry.
Technical quibbles: You will not pay NYC income tax if you live outside the 5 boroughs of NYC, even though you will pay NY state income tax even if you live in NJ.
Putting in 401(k) will reduce your take-home pay, but not by as much as putting the same amount, after tax, in a savings account would. If you are in a high tax bracket now, it makes perfect sense to put the money in the 401(k) tax-free and pay taxes on your withdrawals during retirement, when you will likely not be in as high a bracket and, for all you know, could be in a lower tax jurisdiction than NYC. It is in no way "giving it to the government now for you to feel happy" since you are NOT giving it to the government now at all, you are putting it in the account and deferring the taxes.
The tax savings of a 401(k) are less pronounced for someone who's early 20s and not making as much, and people in that situation need all the pay they can get to live in NYC. But if you put money away in the account early, it can grow exponentially. $1000 put in an account at average return of 7% for 40 years will be a lot more than the same $1,000 put in for only 30 years.
So Houston, Texas is "Podunk"? Ok, buddy. As far as how much I'll work relative to others..tell us, how could you possibly know that? As far as where I went to law school, I'm from Texas. Why would I go to NYU/Columbia? Isn't it funny that I'm so far beneath NYU/Columbia, and yet they're hiring me to work right alongside the people who went there-all the way from "Podunk", Texas? Further, what do you even KNOW about law school? Absolutely NOTHING. You don't know where I went. You don't know anything about me or my gf. What we ALL know here, however, is that I'm more educated than you are, and judging from your pathetic posts, have a much brighter road ahead of me than your stupid ass. So tell us, what do you do? Where are your degrees from? So quick to insult people that are obviously much more intelligent than yourself (in addition to being better people), yet you won't give a serious answer to that question. The fact that you won't is pretty telling. What a pathetic dewshbag.
Careful... You're not stating the facts either dude. In fact, you're slandering him back without backing up your own info..
Must agree, you both sound like Lawyers. Judging people without even knowing them..
So, before you start snarling at me.. I have my Masters in Mechanical Engineering from MIT and I do things Lawyers couldn't understand if they lived to be 150.. However, they make 2-3*'s my salary..
I live in a 250,000 3 BR home with 2 Baths. I drive a $30K car and I save my a$$ off... No need to waste $ on a fancy life.. Money isn't everything....
I am sorry Ace, but no, entry level lawyers dont make 210k.
Not even 160k. most start in 90 to 120k, and even some at 75k.
The ones that start at 160k are the top 10% only. And if you check on any jobsearch engine, you can see a lot of 150-200k jobs that require 2-5 years.
The problem with lawyers is simple, to many of them.
I'm also a lawyer, with a very successful practice in Canada, and I'm thinking of moving to NYC, for personal reasons. I think I could net about $50,000.00 minimum, to a max of $120,000.00 until my client base really gets going. I presume that, even at $120,000.00, I can definitely afford Manhattan, but, from this thread, $50,000.00 would be tight.
Would $80,000.00 give me a comfortable living? My question is how long I can last until the business is built up, and that's the one thing that's keeping me away. The other is the fact that I haven't passed the NY bar yet, though I'm set to do so next year.
Agree to an extent, especially about the top 10% part. All the big corporate law firms start at 140-160k with some sort of bonus for their 1st year associates. of course, these firms are what's considered the top 10 (Skadden, DPW, Shearman & Sterling, Millbank, Cravath, Simpson thacher, Dewey, etc.). Of course, the people who work there (like any good investment bank/private equity firm) is that they're 'blue chip' breeding -- great undergrads, great grad school (law/business).
I've interned at one of the above mentioned corporate law firms; the salaries for those places haven't fell below 150k in recent times.
How much would I need to live in Manhattan comfortably?
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