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You can find a way to scrape by on $250k total comp for big law second years. I believe in you.
If you went to a US law school, you'll be in a good position to go in-house after a few years and a longer stay on the UK may well be an asset. A lot of international companies would love someone with UK experience, and if you keep in touch with your network in the US, opportunities will come up once you hit 4-6 year
I think the exit options are better. You can really sell the international angle when shopping for in-house or firm positions, as everyone is looking for someone to bring a new view. There's also quite a few issues you'll have a better view on -GDPR, Brexit, etc- that'll make you more valuable than a straight US associate if you want to lean on that angle.
I moved from Asia to the US (no family in either place) and effectively took a massive oh cut. It’s what you value; and for me, I wanted to work in a more sophisticated market where I can live longer term.
If money is the biggest consideration I would posit 2 points: I. Taxes in the NY/CA are lower than the UK. You can avoid state tax altogether in places like TX and cost of living is much lower there. 2. COLA as percentage of your salary becomes lower as you move up.
Im not even qualified to comment. Ive been practicing for 12 years and just recently broke $100k. $300k???? Jesus christ. I'd work 5 years and get out this hell hole of a career. Any decision you make is a good one considering your starting point.
Forgive my ignorance, but how? 12 years seems like a long time to break 6 figures even if you’re at a small firm given the specialised skill set and the hours.
I make…a LOT less than $300k as a government attorney. But, I deal with really intriguing issues, I make enough to support my family, and I have time to actually see them. Nothing wrong with having a big paycheck. But, I’d trade money for happiness in a heartbeat.
You’re talking about leaving while I’m figuring out how I can go to London and make 300K 😂 but i definitely second the person who mentioned moving to Texas. Dallas, Houston and Austin have a lot of firms that offer US market pay. Then take a look at Trulia…McMansions everywhere - dallas and Houston moreso. Also no state taxes and many great school districts if that’s a concern. Some things are spread apart so you may get some miles on your car. If you come to the US and are looking for the best bang for your buck, go to the great state of Texas 😬
I’m in the same boat (first year in London with COLA putting me north of 300K) considering the same thing as you and don’t feel like I can leave the COLA especially with all my student loans. I’d really appreciate more senior people chiming in with factors we aren’t thinking of.
Sure, I posted it in the biglaw bowl too. Here:
I mean, when you think about it you run the risk of taking a pay cut whenever you move to the US. There's no guarantee that you'd be offendered any specific salary amount. Personally, I don't think comp should be your only reason for staying.
Experience is, I think, the greater factor. Are you in a position to learn and gain the skills necessary to get where you ultimately want to be? Are you in a position to grow the network that will help you achieve your goals? Those are the two big questions only you can answer.
Excuse my ignorance but what is COLA? And what is v10?