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38 and net worth only 750 k€. Am I behind?
Did anyone watch Candice Owen’s 18 minute rant?
Not very cash money
https://www.bloomberg.com/news/articles/2022-09-28/rolex-discount-on-sale-uk
From the article,
With the British pound retreating to record lows against the US dollar, a steel Rolex GMT-Master II that sells for $11,289 in the US can be purchased for $9,293 in the UK with US dollars, a discount of 18%, according to WatchPro. A 41mm diameter Datejust model can be bought in the UK for $7,088 in US dollars, a discount of 19% compared to US retail.
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Yes, 13 years ago. Worth it overall, but you have to be diligent to turn down work, or you end up working more hours without pay, and resenting the firm and your colleagues.
My firm has tiers of hours and commensurate salary. If you bill up to the next tier, you receive that compensation. Each tier is partner track.
I was relieved to be in the lowest tier when I came back from having my third, but I’m currently on track to hit top tier hours… I’d rather time with my family (and to sleep), but having trouble turning down work.
I would be hesitant about going part-time at a firm. There are just too many partners out there who wouldn’t care about or respect that arrangement. FWIW I’m at my third firm now, so I’ve encountered a bunch of different people (plus the other responses here back me up).
Not my story, but my firm told an associate they could do this but one partner still expected responses at all hours and kept putting her on deals that took up the same amount of time as she was working before only now with less pay. She ended up quitting within 6 months.
I am currently 60% FTE at my big law firm (7th year) after coming back from maternity leave at the end of April. At my firm, our billable hour bonus target is 2000 and I have a range of 1100-1300 under my arrangement. My first month or so, things were going OK but recently I have been working about 100% schedule and I am actively looking to go in house. I try to set boundaries but I don’t think that this arrangement is workable in my practice group (M&A) but have heard that it works better sometimes for other practice groups/ specialists.
I did a part time arrangement for a while ramping off of maternity leave. It was not a good deal for me personally. I was still working late at night when baby was sleeping to meet deadlines, and often ended up working additional hours I wasn’t getting compensated for under the deal I had. I also lost my health plan and other benefits because I was not a full time employee.
I’m currently trying this, ramping back into work after leave is slow so far and my firm seems really aware of the 60% limit and will try not to overwork me. I know this is probably hurting my long term career prospects but I’ve really surprised myself at how much being a mom changed me, and now I just want to spend as much time as I can with my tiny baby before she isn’t tiny anymore! 🥺
Worked a few years ago with an attorney who was supposed to be part-time. She never actually got part time hours and all the FT associates were too busy to take her extra hours. It caused a lot of friction and she was constantly unhappy. I definitely think to make this work you need partner level support and a few partners willing to shift work around for you (or clearly give you the delegation authority to do so).
I often refused to take her work because she wouldn’t delegate it until she got to the end of the day or something was now a rush. If you do end up taking a reduced schedule please don’t be this person! Most associates will gladly take extra hours but not rush if they’re already meeting targets.
Thanks all for sharing these responses - these are helpful and provide a lot of insight. I definitely worried about actually working less
hours and it sounds like those worries are accurate.
I work 80% and it is going great but you really need partner support. Im addition to being 80% my partners are very aware i dont work after like 5:30pm or on weekends, so they are very careful not to assign me big things or emergent things that could blow up. That is just as important as respecting my billable hour agreement