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Should I have pursued a legal career in your opinion? watch

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    First things first, my goal in taking my law degree was always about money. I thought that it would be very well paid when I was applying as a 17 year old to law school.

    I later found that it was very expensive to take an LPC/BPTC if you did not have a sponsorship for it. £15000 tuition fees and a year of renting without much income at all. So by the time you get your training contract or pupillage you could be very much in the red unless you have someone very generous funding you.

    I graduated from a pretty good RG, not great but good enough to get a training contract at a silver circle firm at least and big regionals.

    I ended up working for a FTSE250 firm with the CIO and reporting directly into the Director for IT. This was a graduate training position. Very nice experiences and outlook gained but again it was not very well paid in my opinion. I wasn't happy, and I also got made redundant because of the construction industry in the UK going down the tubes.

    The thing is, I am not satisfied with a normal salary and I am working for myself now and there is actually more money in my pocket than when I was working in a graduate job on £25k. I live at home and my living costs are very minimal, I spend about £50 a month, tops... and thats the phone bill and gym membership basically. I am starting my second business and yeah, I always think "What if?" but I know that the legal career is very much a rich person's game to get into. Well, unless you want to sign up for a big pile of debt.

    So yes... money is very important to me.. it is the centre of 99% of my decisions basically as I never want to be in a position where I am worrying about it.

    (Btw, if there was not an issue of money, I would have tried to get into an LLM and pursued a BPTC to become a barrister at a regional set).
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    You had your reasons and you didnt. If you wanted to become a barrister, then even more debt, except for the very few. You sound better off where you are.
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    (Original post by 999tigger)
    You had your reasons and you didnt. If you wanted to become a barrister, then even more debt, except for the very few. You sound better off where you are.
    Yeah , essentially it was a choice between living a life with less than ideal earnings (but a fulfilling job... presumably) or going full tilt towards the most profitable ventures possible even if it is not very glamorous.
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    (Original post by James.Carnell)
    Yeah , essentially it was a choice between living a life with less than ideal earnings (but a fulfilling job... presumably) or going full tilt towards the most profitable ventures possible even if it is not very glamorous.
    Dont foprget a lot of people never make it, especially at the Bar.

    Imo money , get your own company and sell it.
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    (Original post by 999tigger)
    Dont foprget a lot of people never make it, especially at the Bar.

    Imo money , get your own company and sell it.
    Yeah, I am the type of guy that would listen to the guy in the corner shop and work for him for a while because I could learn something about basic selling skills (With good reason too... when I worked part time after graduation at a corner shop it turns out the boss on the counter had some very nice properties in London... a shopkeeper lol).

    I do get a buzz out of making money off unlikely/unglamorous sources to be honest.
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    Can't give you a definite answer of course but it depends on what you want. You can always carry on and apply for the post grad funding, but as you have already said that will go on top of or be a student loan. At the end of that if you have already got yourself sufficient legal work experience you can apply to go on the roll or get some more experience to top it up.

    I suppose it also depends on what level of income you are comfortable on - personally an average to good standard of financial income is good enough to me, it is not all about the money. I suppose on that ending it is difficult to go from a higher earning level to drop back to lower income. Depends on what is good for you and how much you and a partner or potential partner are earning together.
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    If money is your motivator, stay self-employed. You need a lot more other motivators to have a successful career in law.
 
 
 
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