"Whether 'tis nobler in the mind to suffer
The slings and arrows of outrageous fortune,
Or to take arms against a sea of troubles
And by opposing end them."
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Although this quote was made famous by William Shakespeare in his famous and noteworthy work, Hamlet, it is very relevant in today's world. Especially in the world of a new rising attorney.
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I graduated from law school in May, took two Bars in February, and Lord willing this May I will be licensed to practice law in New Jersey, Maryland, and DC. What does one do after passing the Bar, that is the question. The obvious answer would be to get a job as an attorney and litigate cases like Perry Mason or a lawyer from Law & Order (well maybe not exactly), but there's one problem - it's a tough job market and no one is giving away jobs!
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Statistics show that law students graduate with an immense amount of debt and many are ending up in paralegal positions, conducting document review, or even leaving the legal profession altogether until an opening appears because the job market is so tough. In law school it is drilled into us that a lawyer has a duty to give back to the community and help the indigent by providing pro bono services or working for a nonprofit or state agency (generally known as public interest law or poverty law). I was once told its called poverty law because you will be "po" and live in poverty being a poverty lawyer, which is true to an extent. Although many new lawyers want to give back and volunteer many cannot afford to do so because these jobs pay in the range of $35K-$60K (depending on where you are located and for which agency you are employed) and they have student loans well over $100,000 where they now have loan payments equivalent to that of a rent payment for a 2 bedroom apartment. The first letter stating loan repayment definitely is the first sling of the arrow from an outrageous fortune. Many wish a fortune teller would have told them this before they attended law school. Where's Ms. Cleo when you need her?
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So what does one do after passing the Bar? Do they continue to search for employment and wait for that dream job or do they take arms against their sea of trouble and unemployment and make things happen for themselves by opening their own law firm? Many have opted to do the latter. "I'm my own boss" rolls off the tongue so easy and confidently but it's a drastic contrast from the reality that it's HARD work. Not only is it hard but it becomes survival of the fittest because if you don't continue to bring in clients, reality sets in and you don't eat! Bills don't get paid. Being your own boss is a lot different than working for someone else and just collecting a check, employee benefits, and a matched 401K plan if you're lucky. Yea it sounds like job security but nothing is secure anymore, people are being laid off everyday. Sure you collect a check in private practice WHEN your client pays you, but the only benefit you get is the benefit of making your own schedule and saying "I'm my own boss." Everyone slacks off on the job at some point and we all hope we don't get caught by our boss. But what happens when you are the boss? The stakes have been raised to the umpteen degree and you have to be able to take the heat and bring your A-game. If you are successful then your opposition to the cards you have been dealt has ended your troubles. If not, you dust yourself off and try again until you find your niche.
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Employee benefits sound nice but so does "I'm my own boss." So what will I do once I pass the bar? That is still the question....
