WOOHOO! My fiance got offered a job as an associate!

[ScrimpAndSave]

My fiance has been working as a law clerk this summer...and they offered him a job as an associate! He has to finish up his last year of law school and take the bar, of course. He is going to start at $42,500. A modest salary - but this is a medium sized firm and there is LOTS of room to grow.

So, I can finally have a clear idea of where we will be in a year. I will be making $65,000 and he will be making $42,500.

We will have $120,000 of his student loans - and that will be our only debt.

According to my savings plan, I will have about $40,000 saved up by then.

I'm so happy for him!

[FrugalTexan75]

Congratulations!

[disneysteve]

That's great. Now you can start doing your financial planning and budgeting with real numbers. It was kind of impossible before. Plus, you can start thinking more seriously about purchasing a home because you know how much he'll be making and where he will be working geographically.

I'm not familiar with how salaries work in law. Is it typical to make such a small amount right out of school? When I finished my medical training, I had $102,000 in debt and my first year I made $65,000, and that was 15 years ago. There was also a bonus clause which could have netted more (it didn't) and I was on a 2-year contract so I knew that the 2nd year I'd go up to at least $71,500. Will his contract be for one year only or will it be a multi-year deal? How does that offer compare to what others in the area (and his classmates) are getting?

[ScrimpAndSave]

Well, with this small law firm, they explained to him that for the first few years they are really investing in him and training him and getting him used to litigation and things like that. This law firm takes care of soup to nuts...litigation...family law...workers comp...taxes...estate law.

I am assuming that for the first 4 years or so - he will not be making over $60,000...but then there is the possibility of becoming a partner and so on (if he chooses to stay with the firm - and he really enjoys it there).

His classmates are all parts of families that are into law and have some unbelievable connections. They are making around $90,000-$120,000. On the other hand, the people that do not have connections have been out of jobs for a while...tell him that the market is really bad right now and it is difficult to find a job.

We are really happy that he found something. (and the think - I randomly sent out his resume and coverletter to this place in the spring when he was looking for a summer job!)


The associates and partners have explained to him that the first 4 or 5 years can be difficult (salary-wise), but then things really open up. I'm not sure about whether he is contracted for a year or more..he doesn't think it works that way.