Make a Lot of Money in Big Law Firms
Working in a big law firm has its advantages and disadvantages. The early days of working in a BigLaw firm are demanding. However, these jobs are highly-paid and look great on your resume. Hence, law students line up for them. However, the demands are much higher than the benefits of BigLaw jobs. To earn a great deal in law, you must be prepared to work long hours, and you should be prepared for that.
To make a lot of money in a Biglaw firm, you should aim for about 40 percent of revenue from hours billed by you and your team. The amount you earn depends on the profitability of your teammates and the firms you work for. Associate lawyers in some firms earn significantly higher revenue than their peers, meaning they get a larger share of team revenue. Hence, you need to consider how much revenue you can make as an associate before deciding to join a big law firm.
You should actively seek work. If you are a new associate, start building relationships with senior associates and partners in the law firm. Most firms start their work by distributing assignments to new associates. However, this approach is not effective. It is better to make contacts with partners and senior associates by phoning them. This will help you build up a network of people who can help you.