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Big law makes more, with far worse hours. At partner, mbb probably has worse hours but big law still makes more. There’s a reason one requires another degree and arguably more competitive process (when you take into account law school admissions too).
Chief
MBB from undergrad> Big Law>>>MBB from MBA >>>>>>>>small law
Monetarily^
By the time the lawyer graduates law school, the MBB consultant is making more, with a faster ramp too.
3 years post undergrad is solidly in the 200s for MBB. Same for Law. But you missed out on 3 years of earnings.
4/5 years and you can be an AP, from undergrad, making 350-450. Cravath scale at that time is 255 for a second year associate.
2 years later, you’re an MBB partner making ~1mm, versus a fourth year associate making 370k.
And if you burnout, you take a higher paying exit Opp from MBB. I’d you burn out in Big Law you take a pay cut and stagnate, in house
Chief
Progression should be inferred as relevant to OPs question
Big Law > MBB > Small Law in term is compensation.
If you adjust for interesting work and interesting people, MBB > Big Law IMO.
It’s easier to make MBB partner as a self respecting, whole and happy human being than it is for Big Law.
But still. None of them beat Entrepreneurship and sizable equity share in a fast growing company.
https://www.fishbowlapp.com/post/big-law-vs-consulting-who-makes-more
Rising Star
Big law and its not even close.
Hours are similar to IB tho, and the work is mindnumbingly boring