Can anyone give any insight into what a law school grad with a JD/LLM in taxation can except to earn coming fresh out of school. Have a couple years left of school currently interning doing SALT also looking at International and M&A for future internships. Any help is appreciated! EY PwC KPMG Deloitte BDO
I'd recommend International and M&A over SALT. If you get internships in B4 before you graduate law school and want to go that route, I wouldn't do an LLM.
For me LLM is really for those that want to go to a Big Law law firm. B4 will take you without the LLM and you'll save a lot of money. If you have your heart set on a Washington National Tax role at B4 in DC, then LLM will help. Otherwise, get in a practice office and skip the LLM.
Coming out of school, Big Law will pay you loads more than B4. B4 will give you a little more WLB, this depends mostly on you, but you'll still be working a lot. Partner will be easier to make at B4 though and generally a B4 tax partner will be paid more than Big Law. So it all depends on where you want to start and stay. If you want to be a partner, I'd say B4 and save yourself the LLM. If money is important right at graduation, then start thinking LLM and Big Law
Partner salaries really vary considerably. Some big four can make more than big law, however generally big law makes more than big four.
Echoing don’t do SALT. I made crap at my first job out of school (intl tax consulting / compliance in the Midwest), after a year I took a job in a tax M&A group in nyc and I made 140 as an S1. I don’t have an LLM and the people in my group who have them say it was a waste cost-wise, but they learned a lot and had a great time.
Don’t do SALT. You work just as hard for much less pay. Starting salary is $115k - $130k for JD/LLMs in NYC, as far as I know. That’s for M&A/International Tax.
M and A makes the most but also requires the most time commitment. I recommend international tax, good work life balance and decent pay.
M&A tax intern right now and they said I’d be at $110k, but that was when I signed the internship offer last year. A senior I’ve worked with said he started at 125k two years ago which is a little confusing. Offers are supposed to be given at end of internship (in 2.5 weeks) so we’ll see.
Sorry. 5k bonus. They reimburse bar exam/study materials up to 2.5k I think and then 1k bonus if I pass the bar. I won’t get any of that until my first paycheck though