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Coach
Honestly, I would make adjustments to your expenses in preparation for making a lot less money. Very few jobs pay even close to a Biglaw scale and if you want out, the sooner you adjust to that, the better. Sometimes that is hard to absorb from inside the Biglaw bubble, but your salary is the exception, not the norm.
I wish I’d made the move out of law firms around 5th year instead of staying through NEP (mainly because of inertia while always really wanting to get out) bc the financial realities at this point are very difficult to swallow.
I’m in DC biglaw. I like balancing those two things as well.
Oof, are you in NYC? Not sure what expenses you have to make a 5th year salary what you need to be "comfortable". Depending on the industry, you could find an in-house role that pays over $200K plus annual bonus, equity comp, 401K match, etc. If you like private practice, you can always take a pay cut and go to "mid law" or one of the reputable regional firms in your area.
Also, if a smaller firm is a good idea - how do you find good ones??
Coach
My advice would be to start looking around and understand what places really pay. That said, right now you will take some haircut in the overwhelming majority of roles you might get out of a large firm. It’s just different economics. You will likely need to get comfortable with less than market for a large firm 5th year.