TODAYS' Lawyers are poor. Watch

AsandaLFC
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#1
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I dont know why people assume that lawyers are a bank. I know several people who studied law and make an avarage of $998.22. At age 30 you shouldnt be earning that. And as for the newly graduates...oh dear whose guys make $200 for two ****ing years.

They're alot of proffesions that make more than lawyers;
1. Engineers
2. Doctors
3. Charted account
4. Accounts
5. Actuarial sciencist
6. Land surveyors
7. Quantity surveyors
8. Economist
9. Phamarcist
10. Dentist

And yet you will hear people ranking law together with MbchB and B. Eng in terms of money. Law was prestigious , its still is but its lossing it momentum. This is due to the high numbers of people studying law. They're dozens and dozens of people I personally know who study law. Im not sure if they did their research or they just want to be respected by society. The only way lawyers become a bank is with experience that means you're most likely to become a bank at age 40.


The worst think is that u can spend years and years unemployed because companies dont have money to train u. Even if u pass with 2:1 u will be unemployed. unless u go to havard. Meanwhile engineers become unemoloyed straight out of une having passed by 3:2

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DiddyDec
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I best text my father to tell him that he is poor.
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Vav Sartrean Po
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Lawyers in America.. Yet English lawyers have an AVERAGE salary of £90,000+
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paniking_and_not_revising
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(Original post by Marshall Taylor)
Lawyers in America.. Yet English lawyers have an AVERAGE salary of £90,000+
Wrong. The average salary of an English lawyer is not £90,000+

American lawyers tend to have higher salaries than UK lawyers. UK corporate lawyers earn pretty good amounts of money despite this.

And our criminal legal aid lawyers do not earn high salaries at all.
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DiddyDec
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(Original post by paniking_and_not_revising)
Wrong. The average salary of an English lawyer is not £90,000+

American lawyers tend to have higher salaries than UK lawyers. UK corporate lawyers earn pretty good amounts of money despite this.

And our criminal legal aid lawyers do not earn high salaries at all.
There has never been money in criminal law.
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TurboCretin
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(Original post by AsandaLFC)
I dont know why people assume that lawyers are a bank. I know several people who studied law and make an avarage of $998.22. At age 30 you shouldnt be earning that. And as for the newly graduates...oh dear whose guys make $200 for two ****ing years.

They're alot of proffesions that make more than lawyers;
1. Engineers
2. Doctors
3. Charted account
4. Accounts
5. Actuarial sciencist
6. Land surveyors
7. Quantity surveyors
8. Economist
9. Phamarcist
10. Dentist

And yet you will hear people ranking law together with MbchB and B. Eng in terms of money. Law was prestigious , its still is but its lossing it momentum. This is due to the high numbers of people studying law. They're dozens and dozens of people I personally know who study law. Im not sure if they did their research or they just want to be respected by society. The only way lawyers become a bank is with experience that means you're most likely to become a bank at age 40.


The worst think is that u can spend years and years unemployed because companies dont have money to train u. Even if u pass with 2:1 u will be unemployed. unless u go to havard. Meanwhile engineers become unemoloyed straight out of une having passed by 3:2

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Why would you measure the prestige of law as a career against the number of people studying law? Most of those students will never become lawyers.

Granted, lawyers as a group do not make as much money as people think that they do. Among both solicitors and barristers, only a minority make the headline 'lawyer' money.
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SmashConcept
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(Original post by DiddyDec)
There has never been money in criminal law.
Probably more than there is in family law.
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DiddyDec
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(Original post by SmashConcept)
Probably more than there is in family law.
I know more well off lawyers in family laws than I know in criminal
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AsandaLFC
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(Original post by TurboCretin)
Why would you measure the prestige of law as a career against the number of people studying law? Most of those students will never become lawyers.

If u studies/study economics at school u would know that the more LLB graduate they're the less firms will be willing to pay them.
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AsandaLFC
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(Original post by DiddyDec)
I best text my father to tell him that he is poor.
Your father studied LLB during the ancient when lawyers were rare and in demand = bank. Now they are billions of LLB graduate globally

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AsandaLFC
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(Original post by SmashConcept)
Probably more than there is in family law.
Family law is a joke

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TurboCretin
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(Original post by AsandaLFC)
If u studies/study economics at school u would know that the more LLB graduate they're the less firms will be willing to pay them.
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Yes and no. There is an oversupply of law graduates, but law firms still have to compete with one another. Over recent years we have seen US firms opening offices in London and offering significantly more money than even the top stratum of old City firms. Fifty percent more (basic) in some cases.

This is going to become a significant problem for top City law firms. Sooner or later they will have to either increase their pay or lose out on the best talent. If they increase their pay for junior lawyers, they will have to increase pay all the way up the chain of seniority. This will hit profits hard unless they reduce the number of lawyers they employ.

What I can see happening is Magic Circle firms further cutting the number of trainees and young qualified lawyers they take on, and hiring further paralegals to take on as much of the work previously done by young lawyers as possible. It may not turn out this way, but it seems likely to me. It's already happening to a degree.

At the high street end of the profession, I can see small firms reducing in number in the face of competition from Tesco law. Fewer jobs for graduates at law firms, replaced by paper pushing jobs in big companies.

So yes, the bulk of law graduates will probably become trapped as paralegals and will not earn as much as they would have hoped, if they stay in law at all. Those who do make it, though, may ultimately earn more than they do currently.
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Vav Sartrean Po
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(Original post by paniking_and_not_revising)
Wrong. The average salary of an English lawyer is not £90,000+

American lawyers tend to have higher salaries than UK lawyers. UK corporate lawyers earn pretty good amounts of money despite this.

And our criminal legal aid lawyers do not earn high salaries at all.
Clearly we don't actually have 'lawyers' we have solicitors and barristers. Barristers with over 10 years experience typically earn an excess of £1,000,000.. Partnered solicitors on average earn an excess of £100,000. It depends on the firm and who they work for.
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1732757
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(Original post by Marshall Taylor)
Clearly we don't actually have 'lawyers' we have solicitors and barristers. Barristers with over 10 years experience typically earn an excess of £1,000,000.. Partnered solicitors on average earn an excess of £100,000. It depends on the firm and who they work for.
Beat me to it...

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BCMFM16
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I think a reason for it initially is because most universities offer Law as a degree. As a result there is an abundance of people with the similar degree. 98 institutions in the UK to be exact. However, after many years and at the right firm, money can be made.
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