Job Responsibilities
My job responsibilities include preparing drafts of agreements
and supporting documents for various corporate transactions,
such as mergers, acquisitions, financings, and securities
offerings and periodic disclosure. I also communicate
extensively with clients to meet their needs, and see their
intentions reflected in the documents that I draft for them. I
work in teams, dividing work based on level of experience.
I also interface with government regulators at all levels of
government in order to ensure compliance by the client with
whatever laws and regulations are applicable to them.
I spend about 8 hours of my day drafting documents, reviewing
drafts from various parties and making comments or reviewing
legal documents to make legal conclusions. I spend between 2 and
4 hours on the telephone or meeting with various parties to a
transaction. Each day is fairly different from others.
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Job Requirements
In order to be an attorney, you need a JD degree or LLM degree
and to be a member of the state bar where you practice. JDs are
demanding programs, with a high workload compared to college
(especially reading). Grades are a factor in determining who
ends up at what legal jobs, so working hard for good grades in
law school is important.
I know that if I keep working hard for about 6 to 7 more years,
I could become a partner in the firm. I can also leave before
that and work at a corporation (legal department), teaching, for
the government (in a legal capacity), or go into business or
private solo practice.
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Uppers
The positive aspects of being a lawyer are evident. The salary is much higher
than most jobs. How many times do we hear our parents say: "But, don't you want
to be a doctor, or a lawyer?". Therefore, the standard of living is higher.
Student loans can be paid back faster, we can purchase a fairly expensive home
much sooner than most people. Most of my colleagues, who are all in their 20s,
own homes (with mortgages) that are worth $400,000 or more.
Lawyers also have access to shaping the way our society operates. Our legal
system is the cornerstone of our democracy. We play an important role, in our
discreet areas of expertise, in shaping society. Whether it is by making the
Initial Public Offering of Google happen, challenging the constitutionality of a
State's anti-abortion law, arguing that detainees at Guantanamo should have
certain rights, being at the forefront of the immigration debate, etc., we have a
powerful voice that other professions don't necessarily have.
Lawyers get to meet prominent clients and figures, and they get exposed to a
lifestyle that is economically higher than most people in the country.
We usually get good benefits, in addition to the salary, like health insurance,
401(k) plans, etc.
Lawyers have mobility. There will always be a need for lawyers, so the chance of
being stuck at one job is slim.
There is a certain prestige that comes with being a lawyer, and people give you
more respect and recognition when you say "I'm a lawyer". This is surprising,
given the number of lawyer jokes out there.
We know the law. Therefore, we know our rights. I know what protections and
obligations I have when a cop stops me, when I get into an accident of any kind,
when I have a dispute with a landlord or tenant, when I buy real or personal
property, etc. This is extremely useful. It is a profession that helps you
personally as well (much like doctors are able to diagnose themselves).
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Downers
Lawyers work consistently more hours than most other people.
Lawyers are always stuck in the office, always end up having
some emergency meeting, conference call, etc. The stress level
is extremely high. Sometimes this translates into substance
abuse problems and family issues. Many lawyers divorce quickly.
Lawyers expect younger lawyers to "suffer through what they went
through", so it can be very tough to have a balanced lifestyle.
Going to law school is expensive. Loans are sizable when you
graduate. But they can be paid quickly given the high salary
levels.
There is a lot of paperwork, and little person-to-person
contact. People who go to lawschool expecting to "help people"
will certainly help people, but not necessarily by talking to
them and sitting with them, like a therapist. Quite the
opposite, we help by going through piles and piles of paper and
helping persons get the best outcome or legally reach their
goal.
Lawyers tend to have big egos, and with a big ego comes a
pompous personality, generally. Some of the characters you deal
with make you just want to slap them. That contributes to the
stress.
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Lifestyle
Work hours are long. A healthy lifestyle is hard to maintain unless you work for
an employer that stresses quality of life or for one that has very clear business
hours.
There is business travel involved, usually to conference rooms under tight
deadlines, so seeing the city that you visit is generally not an option, unless
you're there on a Friday and you're lucky enough not to have to work on the
weekend.
Lawyers socialize in their workplace sometimes, most of them just want to leave
when they get a chance to go home and be with their friends and family. Dress
code can vary from business formal to business casual dress.
Increasingly, lawyers are a very diverse group of people, both ethnically and
otherwise. Of course, this depends on the part of the country where you are. I'm
sure working in Alabama and working in New York City are two different
experiences.
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Compensation
Compensation for entry level associates at major law firms
ranges from $100,000 to $150,000 per year. Some firms give
bonuses at year-end, ranging from $5,000 to $40,000. Smaller
firms or less recognized firms offer lower salaries and
sometimes no bonuses. Most have basic benefits like health and
life insurance, 401(k) plans, use of facilities like a gym,
pool, etc. Most have tickets to sporting and artistic events
that they provide to their employees. Some have free parking or
other pre-tax transportation benefits.
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Advice to Jobseekers
Do not go into law unless you are sure you love the profession.
People go into law for the wrong reasons and end up being
miserable working in it. It is a huge investment, and therefore
be very sure that it is what you want before you go in it.
Job security is fantastic with this profession. So the job
outlook only gets better and better, that is, if you like it and
can adapt to the sometimes harsh lifestyle.
And enjoy lawschool if you do go. It is an amazing experience.
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