If you are not among the fortunate few, it could be discouraging to see BigLaw firms paying $190,000 salaries to new attorneys.
After all, only a handful of law firms offer mega bucks to the newbies. And unless you are at the top of your graduating class, statistically speaking, it's not going to happen.
Of course, that is not an optimistic view of the world. In the bigger picture, your lawyerly chances at $190,000 a year are better than everybody in the National Basketball Association.
More Lawyers Than Players
The minimum rookie contract in the NBA is about $543,000. But there are only 300 and something players in the league.
At law firms offering first-year associates $190,000, there are more than 5,000 lawyers at work. Not that lawyers can do the math, but numerically speaking they have a better chance of making top dollar as a rookie than a professional basketball player.
Well, there is the LeBron James exception. He started at $4 million his rookie year, and just signed a $154 million deal for the next four years.
But that's not important right now. What matters -- if you are a recent law graduate shooting for the big time -- is that you better pass that bar exam.
LeBron James Exception
Once you stop reading blogs, study hard, and get your license, you will join a league with more than 1 million practitioners. And despite discouraging employment statistics from the past, every licensed attorney can practice law.
It's not like basketball -- or any sport where only the best get paid to play. That license to practice is a license to get paid.
LeBron James may become a billionaire before you do, but most of that will be from endorsements instead. So, yeah.
Related Resources:
- Don't Prank Opposing Counsel (FindLaw's Greedy Associates)
- Florida Coastal Law School Strikes Out in Court (FindLaw's Greedy Associates)
- Lawyer in Deep Water for Leaving Scene of Boating Accident (FindLaw's Greedy Associates)
