| Topic Name: |
Starting Salary at BCG/McKinsey? |
| Message Name: |
law firm salaries |
| Date Posted: |
04/18/2000 |
| In Reply To: |
The short answer is no. JD's fresh from law school are treated the same as freshly minted MBA's, and I doubt the one year of clerkship will matter to the firms much. So, your offer will be the same as an MBA. For McKinsey this year, the offer is:
$20K sign-on bonus
$100K annual salary, $105K/year starting 1/1/2001
12% profit sharing
Year-end performance bonus of 20-30% on 12/31/2001
You're probably looking at around $150K total compensation for your first FULL-YEAR at one of the two firms you mentioned.
You must have done really well in law school to be able to secure such a generous offer from a law firm. All of my friends who attend decent law schools (Georgetown, NYU, Columbia) are getting offers in the $90-100K range. Congrats... |
| Message: |
The law salary is standard as a result of recent increases (supposedly to compete with .coms).
Starting base (2nd year--with a clerkship you enter as a year 2)--$135,000
Year-end bonus (max)--$20,000-$25,000
Clerkship bonus--$10-15,000
W/O wasting a year on a clerkship, the salary is $125 + $20-30K max bonus. Your friends are no doubt enjoying the same increase.
Given that traditionally consulting has been more lucrative than law jobs starting out, is there any chance that the starting package at consulting firms will increase? Aren't they just as likely as law firms (if not more so) to lose people to the .coms?
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