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They should if they have a reasonable chance of getting better returns.
“As a lifelong member of the Columbia Business School community, I adhere to the principles of truth, integrity, and respect. I will not lie, cheat, steal, or tolerate those who do.”
"Capitalism ho!"
They should if they have a reasonable chance of getting better returns.
If they garnered a real asset with a real probability of a good return I could partly agree but these folks seem oblivious to the level of debt they are assuming. Didn't one dude have European semesters in their program etc etc. When I went to law school I was fortunate in that costs were lower but I lived modestly and also worked either part-time or full-time all three years. I am not seeing those kind of elements in these stories. It seems some of these folks were living a pretty nice lifestyle on borrowed cash
You don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto Luongo
You are working at a firm while building another firm? Is the "profitable firm on the side" some other kind of business?
No, it's a law firm. ~90% of what we do (drafting, mailings, research, voicemails, etc.) can be done overnight and on weekends, and for the remaining ~10% (court appearances, conference calls, etc.) our "day jobs" have hella-flexible enough scheduling to free up weekdays as needed. Of course, we may always jump ship and do our thing exclusively if business picks up enough to, which may happen now that general word of mouth in both business and criminal circles is dropping us odd jobs from time to time, we're go-to guys for two major contractors, I'm getting licensed in a second state come May, and a bank with a half-billion in assets has at least informally indicated we'll be getting most/all of their default cases starting this week. And that's all before we've even bothered to start any traditional "marketing," which could open god knows how many floodgates.
What I don't think the kids in that article fully appreciate is the best advice every private-sector lawyer has given me: as much as law students constantly strived to one-up each other and look the "best," once you actually get out there and hang out your shingle, how "good" of a lawyer you are or where you went to school is virtually irrelevant, and it's all a matter of knowing how to locate the right wellsprings of clients, and getting attuned enough to their unique circumstances to know exactly what they need to hear to sign with you instead of the other guy who - in all honesty - could probably do as good of a job as you if not better. Once that happens, all that's required is a minimal level of competence and a whole lot of continued schmoozing. The big firms these kids strive to get into aren't so much amalgamations of top "talent" as they are faucets from which closely-guarded client leads are poured like the liquid commodities that they are, and recent grads would usually have more than enough work to feed themselves if they just had the creativity, entrepreneurial spirit, and outright cojones necessary to tap into their own leads instead of having them spoon-fed to them. But I guess that's why partners are partners and associates are associates.
If they garnered a real asset with a real probability of a good return I could partly agree but these folks seem oblivious to the level of debt they are assuming. Didn't one dude have European semesters in their program etc etc. When I went to law school I was fortunate in that costs were lower but I lived modestly and also worked either part-time or full-time all three years. I am not seeing those kind of elements in these stories. It seems some of these folks were living a pretty nice lifestyle on borrowed cash
QFMFT. When my eyes first fell upon the study abroad sob-story I puked into my mouth a bit and just stopped reading. Had I not been able to work full-time through over half of law school and maintain a 2/3 merit scholarship throughout, you'd better believe I never would have touched that debt-factory with a ten-foot pole. Absent steady income, a scholarship, or rich parents, law school is simply not an economically rational choice unless you're either A) smart and masochistic enough to be virtually certain to end up in the top 10% and amass other distinguishing resume-padding or B) already sure to be hooked up after graduating by blatant nepotism. Anybody that did not already realize this at the outset and is complaining to journalists about it afterward is too ****ing stupid to flip my burgers much less review my commercial real estate transaction. Sweet chocolate christ am I ever sick to death of hearing these entitled c***s spout this bull****.
Last edited by Darius871; January 10, 2011, 20:02.
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