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Junior v50 biglaw partner on reddit: $850k not enough to maek it in NYC
Poast new message in this thread
Date: February 2nd, 2025 11:32 PM Author: .,..,..,.,,..,..,,,,,,,,..,...,.,.,., https://www.reddit.com/r/biglaw/comments/1ifzcgv/nyc_partner_salary_reality_check/
I know I’m going to get shredded for this, but here goes: I’m a second-year partner at a V50 firm in NYC, making around $850K, and it just doesn’t feel like that much money. I don’t mean that in an abstract sense—I mean that I genuinely don’t feel like I’m living like someone who makes $850K/year.
I have two kids (another on the way) and rent a two-bedroom in Carroll Gardens for $5,900/month. My husband and I have been trying to buy a home that fits a family of five, but Brooklyn prices are insane. Anything semi-decent (move-in ready) is either wildly unaffordable—especially at today’s 7% interest rates—or in a neighborhood where private school would be a must, making it just as unaffordable.
We’ve considered the suburbs, but anything truly worth coming home to after these long hours—and within 1.5 hours of my office—is going to be $2-2.4M minimum. With current mortgage rates and NJ/Westchester property taxes, that’s a ~$17-18K/month nut. My monthly draw is around $21k.
I know this sounds entitled/insane, but I wanted to add another data point on what life is like in NYC as a Biglaw partner. My sense is that partners before the 2010s could afford to actually live in NYC much sooner after making partner, while for me, that kind of financial breathing room feels a long way off. NYC is increasingly for the ultra-rich or the poor, with the middle class (upper, middle, lower) disappearing entirely.
Again, I know it’s crazy to suggest that making $850K is somehow “struggling,” or "upper middle class," but it simply doesn’t go as far as it did 15 years ago in NYC. I don’t see this sentiment discussed much—so tell me, am I way off base? |
Date: February 2nd, 2025 11:34 PM Author: Tyler, The Poaster their rent is <$6k and they dont send their kids to private school - what the fuck are they spending their money on? (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616646) |
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Date: February 2nd, 2025 11:35 PM Author: Wife shaving her vagina before a business trip Yeah her salary alone is 43k a month after tax (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616651) |
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Date: February 2nd, 2025 11:37 PM Author: .,..,..,.,,..,..,,,,,,,,..,...,.,.,., it seems like the bulk of her salary is paid at the end of the year from the comments. normally she is paid 21k a month apparently. (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616660) |
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Date: February 3rd, 2025 12:08 AM Author: Wife shaving her vagina before a business trip Still (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616730) |
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Date: February 3rd, 2025 12:10 AM Author: Ass Sunstein Yeah, but she is basically saying she wants to live off her base salary and not take bonus into account, so yeah, obviously she can't afford much doing that. (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616735) |
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Date: February 2nd, 2025 11:34 PM Author: Wife shaving her vagina before a business trip A $2.5 million house is easily affordable on a 850k salary. Also, she should have 1-2 million saved up by now easy. (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616647) |
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Date: February 2nd, 2025 11:36 PM Author: """""""'" " Also, she should have 1-2 million saved up by now easy."
no way. she has only been a partner 2 years so she has only been in BIGLAW max 10 years. she probably spent the first few just paying down student loans. then it's unlikely she'd save that much given that she wasn't making 850k as an associate. |
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Date: February 2nd, 2025 11:34 PM Author: """""""'" is the 21k monthly "draw" pre or post tax?
also, LOL @ NYC |
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Date: February 2nd, 2025 11:37 PM Author: Die Hard 2: Die Harder Given everything she wrote I assume her husband makes 150K max.
She would be better off buying a 1BR than renting that 2BR |
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Date: February 2nd, 2025 11:40 PM Author: .,..,..,.,,..,..,,,,,,,,..,...,.,.,., a 1br with 3 kids? (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616667) |
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Date: February 2nd, 2025 11:45 PM Author: AI_concubine Women are retarded about money. And imagine if your wife was a big law partner (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616675) |
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Date: February 3rd, 2025 2:02 AM Author: Tutu-fueled Red PissWang Rampage (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616857) |
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Date: February 2nd, 2025 11:58 PM Author: but at what cost lol @ the comments from all the poors on Reddit (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616697) |
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Date: February 3rd, 2025 4:10 AM Author: ;::;:;;::;;;;;:::: She should STFU and move to Westchester. Good schools, less apes. Easier to ride Metro North for 40 minutes than to get on the globohomo bangbus known as the subway and get gangraped to midtown (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48616974) |
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Date: February 3rd, 2025 4:20 AM Author: pretend See it’s actually different for me because making 800k in tech you still have a 180k salary and how the FUCK do you get a mortgage or plan your finances when it’s all “stock” that can go to 0 or be revoked at any time
Like seriously what can you get do with this fraud Monopoly money garbage |
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Date: February 3rd, 2025 4:32 AM Author: ;::;:;;::;;;;;:::: can you sell any of that stock now or are you locked up? any way to margin it? (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617000) |
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Date: February 3rd, 2025 5:03 AM Author: ,.,.,.,........,....,,,.. No. If you have rich friends or family you could probably come to an arrangement but I doubt there’s any real market for an asset that is expressly not assignable by its terms (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617031) |
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Date: February 3rd, 2025 9:56 AM Author: Just your average poaster Have you been on reddit or blind at all the last 2-3 years? Lots of $800K TC techbros learning hard lessons (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617381) |
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Date: February 3rd, 2025 5:02 AM Author: ,.,.,.,........,....,,,.. There’s something bizarre about her math. I make less than half what she makes and have the same rent and still go on vacation and waste money at nice restaurants and go to bars all the time. She must be on some aggressive savings plan or something. (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617029) |
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Date: February 3rd, 2025 7:17 AM Author: N709PS She has two kids. If she had a nanny while still an associate she could have been paying like 100k on that (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617112) |
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Date: February 3rd, 2025 7:21 AM Author: scholarship Women lack the ability to budget money. It’s like spacial awareness or grip strength for them. They just don’t have it. (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617116) |
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Date: February 3rd, 2025 9:36 AM Author: AI_concubine (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617328) |
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Date: February 3rd, 2025 5:09 AM Author: .- .-. . .-. . .--. - .. .-.. . After you max out your 401k and employee stock program contributions it's not a lot of money at all. $6k rent. $5k nanny. $2k on various extra curriculars for the kids. $1k on the car. $6k tuition/daycare. $5k on food, utilities and incidentals like Starbucks. $25k gone and less than $20 left to cover my the summer house, Ubers for kids and a mistress. Not a lot at all. (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617034) |
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Date: February 3rd, 2025 6:59 AM Author: .,.,...,..,.,..:,,:,......,;:.,.:..:.,:,::,. It’s funny when people say they don’t feel rich then lost all the numerous investments and vanity spending items they enjoy. They feel like they should have a mansion AND the best private schools AND maxed out retirement accounts all on $850K which just isn’t that much cash. Either find a way to make more money or move to a less expensive city. It’s not hard to figure out (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617101) |
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Date: February 3rd, 2025 7:03 AM Author: Hawk Taulia Tagovailoa (High Constitutional Moment) $850k is not that much cash? (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617107) |
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Date: February 3rd, 2025 7:14 AM Author: .,.,...,..,.,..:,,:,......,;:.,.:..:.,:,::,. Not when people choose to spend $150K per year in tuition for 3 kids and buy a 2.5M house with 7% interest rates (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617110) |
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Date: February 3rd, 2025 7:19 AM Author: scholarship It does sound entitled/insane because, simply put, it is. I don’t mean to come off abrasive but it really sounds like you need a major reality check on how the other 99% live in this country. I would first start with mental exercises in gratitude for what you do have (high salary, health (presumably), etc.). (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617115) |
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Date: February 3rd, 2025 8:09 AM Author: state your IQ before I engage you further Hey BIGOTS stop assuming op's a she (http://www.autoadmit.com/thread.php?thread_id=5674511&forum_id=2#48617164) |