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Give up pslf for firm?
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Date: June 27th, 2017 10:34 AM Author: cracking brunch water buffalo I work for a non federal government in the DC area doing employment law. I make around 93k, work 9-5 M-F, don't work after those hours, don't have a work phone even, and telecommute one day a week where I basically do nothing. The job is cush. But it's a dead end job, have been passed over for promotion, and have limited if any career advancement prospects. Because I barely work, I'm not gaining a ton of experience. That said, I have 200k in federal loans. I'm four years into the PSLF program, so six years to go to freedom. I pay about 600 per month for those loans. I also have private undergrad debt of about 80k that I can't afford to pay so my dad pays the 650 bill each month. Life is decent but my wife and I are always stretched for money, our house is tiny and god knows how we'll afford a bigger house when we add another kid to the mix. My wife's parents live three miles from us, which is nice for emergency babysitting etc. It's a nice area too.
A buddy works at a large but not super prestigious firm in Charlotte and is trying to get me to join. Tentative offer would be 165k, title of Of Counsel, and decent bonus options based on reasonable billables. To pay off my fed loans in same amount of time my montjly payment would balloon to over 3k per month. I'd work a lot more than now and I'd see my son a lot less presumably. But it would offer career advancement options, even if I don't stay with the firm for more than a few years. And the money situation would be better and I could decide to pay my loans off over more time if needed. I've never been to Charlotte and don't know how I'd feel about moving. It'd be a big change at least. Could get a real house though.
Eventually I'd like to move in house as an employment lawyer somewhere. I basically do that now but for a government. Not sure how marketable I would be in six more years at my current job though.
Thoughts? Worth the increased risk for the money and possibly better long term options? I live a good life now but money situation sucks and I generally dislike my job as unfulfilling. |
Date: June 27th, 2017 10:35 AM Author: silver boyish black woman LOL @ a "man" doing non-profit soft BS with a wife and children. $80K undergrad and having your dad pay it off--yeesh. That's ugly. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652120) |
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Date: June 27th, 2017 10:40 AM Author: cracking brunch water buffalo Yea dude it sucks. I graduated in the height of the recession and never got my footing (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652135) |
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Date: June 27th, 2017 10:53 AM Author: ungodly exhilarant tanning salon you can make more in DC than that, same thing for me but 125K and I telecommute sometimes 2-3 days a week (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652199) |
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Date: June 27th, 2017 10:56 AM Author: cracking brunch water buffalo Fed government? If so they aren't really hiring. I've been on the lookout for fed jobs for a couple years and haven't gotten anywhere. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652216) |
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Date: June 27th, 2017 11:01 AM Author: ungodly exhilarant tanning salon a more aggressive non profit (meaning not save the whales) (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652255) |
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Date: June 27th, 2017 11:08 AM Author: cracking brunch water buffalo Sounds like a good set up. Not sure how marketable I would be for anything other than employment law though. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652308) |
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Date: June 27th, 2017 11:13 AM Author: ungodly exhilarant tanning salon all PSLF non profits and what not need internal lawyers who deal with employment law; if you can get an in-house gig where you do more like trademark/copyright/contract review, you'll be able to move up (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652346) |
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Date: June 27th, 2017 11:15 AM Author: Awkward hyperventilating whorehouse what type of non profit? (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652361) |
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Date: June 27th, 2017 11:17 AM Author: ungodly exhilarant tanning salon even some serious money makers are still non profits, technically speaking
it is a wide spectrum; dude just needs to find one with more corporate ties |
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Date: June 27th, 2017 11:02 AM Author: soul-stirring round eye does pslf even happen (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652269) |
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Date: June 27th, 2017 11:07 AM Author: cracking brunch water buffalo First forgiveness will be this fall for peeps who started program at beginning in 2007. Congress can always cancel the program at any moment but most think that current enrollees would be grandfathered, but that's no guarantee. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652299) |
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Date: June 27th, 2017 11:10 AM Author: soul-stirring round eye what if you work all those years and they're just like sry jk (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652318) |
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Date: June 27th, 2017 11:11 AM Author: cracking brunch water buffalo Then I'd be fucked. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652327) |
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Date: June 27th, 2017 11:05 AM Author: Cobalt candlestick maker mad cow disease If you have free time why not put it toward a business and not work your ass off to line someone else's pockets? (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652289) |
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Date: June 27th, 2017 11:08 AM Author: Unhinged pea-brained cruise ship turdskin That's a shitty job offer given your situation. Hold on to PLSF job. Try to get another PLSF job that pays $10-$15K more, that should solve a lot of your money problems. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652306) |
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Date: June 27th, 2017 11:10 AM Author: cracking brunch water buffalo I've thought about using a private firm offer to demand that type of raise. I'd have to not be bluffing though and be ready to accept the firm offer if my employer said take a hike. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652322) |
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Date: June 27th, 2017 11:36 AM Author: Saffron Stag Film Old Irish Cottage go for it. firm is the riskier play though. and if you want to actually make use of the increased pay to get rid of your loans, you're still going to have to live like a poor. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652519) |
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Date: June 27th, 2017 11:11 AM Author: Domesticated Vivacious Selfie Meetinghouse Stay in D.C. for plsf. The regret you'd feel throwing that benefit away and staring at your due student loan balance while a partner yells at an of-counsel who doesn't know how to do much at 9 pm on a Saturday would cause me to killself.
Gun for bigfed. Takes time, sure, but you can get something with your skill set.
I paid off 200k in biglaw before going to the government fwiw. |
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Date: June 27th, 2017 11:12 AM Author: Awkward hyperventilating whorehouse Most fed gov agencies prob won't be hiring for YEARS (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652339) |
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Date: June 27th, 2017 11:15 AM Author: Domesticated Vivacious Selfie Meetinghouse That's not true. I mean generally numbers are going down - sure. But there are always agencies getting a surge that need to staff up (i.e. Homeland Security right now). Not a great time to be looking, but not impossible. My agency actually recently brought on a couple of employment folks. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652367) |
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Date: June 27th, 2017 11:13 AM Author: cracking brunch water buffalo Bigfed would be solid. Gs15 tops out at 160 or thereabouts. I doubt fed govt will be hiring while Trump is in office so I'll have to wait a long time. I looked into it while Obama was still hiring but wasn't successful. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652348) |
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Date: June 27th, 2017 11:14 AM Author: Canary shrine humiliating thread (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652355) |
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Date: June 27th, 2017 11:14 AM Author: Awkward hyperventilating whorehouse Am I the only one who thinks this non fed gov jerb sounds okay? I guess maybe not for a man. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652358) |
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Date: June 27th, 2017 11:25 AM Author: cracking brunch water buffalo It's definitely a cushy job. The drawbacks are the low pay, the lack of experience I'm getting which will impact my future marketability, its dead end / no advancement nature, and it being unfulfilling. If you don't give a shit about what your job is and whether you get any satisfaction from it, the job is otherwise fine. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652448) |
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Date: June 27th, 2017 11:28 AM Author: Awkward hyperventilating whorehouse The lack of experience is the biggest drawback IMO, because if you ever need to look for another job, you won't have any skills.
The pay is okay because of the limited work you're doing. |
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Date: June 27th, 2017 11:32 AM Author: cracking brunch water buffalo It's a big concern for me. Assuming I stay for six more years and get the loan forgiveness, will I be stuck at my job forever or would a company actually hire me as in house counsel? I wonder. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652489) |
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Date: June 27th, 2017 11:37 AM Author: Awkward hyperventilating whorehouse If you can fake having experience, then maybe. I'd be scared to lateral to another job that assumes you have work experience that you don't have though. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652526) |
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Date: June 27th, 2017 11:41 AM Author: Unhinged pea-brained cruise ship turdskin Experience is flame. He can fake it till he makes it after he cops PLSF. (http://www.autoadmit.com/thread.php?thread_id=3659663&forum_id=2#33652557) |