The miseries of life at a large law firm are regularly chronicled in these pages. But don’t forget: It’s a living. And if you make partner at a top firm, it’s a very, very good living.
From an anxious reader:
I’m a 2L about to start the whirlwind of OCI at my law school. So I’ve been following the recruiting threads, if not eagerly, at least with an acute sense of anticipation and dread for what life will be like after the honeymoon of next summer.
I’m left with an overriding question: What keeps people in these high-compensation, high-stress jobs? Is it costly court settlements to pay ex-spouses? Mob debts?
I guess it could just be the overwhelming urge to consume luxury goods, but I can’t comprehend someone making their lives hell for 60-80 hours a week just to buy a bag with a fancier pattern on it. Those who leave within three years make sense to me, but what about the tortured, hollow souls who soldier on?
We have a few responses. First, many law school graduates carry significant educational debt loads. By the time these debts are paid off, there are new financial needs: down payments, mortgages, tuition bills for the kids.
Second, some law firm associates — those who “soldier on,” in the words of this tipster — actually enjoy their work. The unhappy associate is a stereotype, and every stereotype has its exceptions. We know a number of Biglaw associates — and partners — who wake up each day excited about going into work.
Third, the lifestyle rewards of working at a big firm should not be reduced to “a bag with a fancier pattern on it.” They also include… nice real estate! Especially for those who snag the brass platinum ring of partnership.
Time for a Lawyerly Lairs post. In Lawyerly Lairs, we take you inside the luxurious abodes of prominent members of the legal profession.
Today we peek inside the multimillion-dollar apartment of Schulte Roth & Zabel partner Richard Presutti (pictured above, with his family). It was featured prominently last month in the New York Times.
Check it out — including floor plans — after the jump.
Continue reading “Lawyerly Lairs: It’s Good To Be King A Biglaw Partner”
