The ABA Journal posted an article on its site titled “Is $75K the Lawyer Happiness Number? Shoes and ‘Life Assessment’ Part of Trade-off.” In the article, the author says, “Lawyers who give up big salaries should be comforted by a recent study showing that after reaching a household income of $75,000, people don’t become more happy with more money.”
This caused me to wonder. Is there some sort of mass exodus going on where lawyers are leaving big firms, perhaps teaching or “going solo” and just accepting a $75,000 salary as the price to pay?
Query: How many lawyers do you know who’ve left a firm recently (voluntarily) to take a position in the $75K range?
I’m not saying it isn’t happening. BUT, is this just anecdotal?
Query: Are you willing to live with the stress that being a lawyer entails for $75K per year?
Finally, should we be narrowing the question to one just about money rather than about life choices in general. Certainly we all know lawyers who are making scads of money and losing their families in the process. That’s a pretty steep price.
Just wondering: If you find something your really like doing (like being an excellent lawyer) is the money really an issue once you meet your primary needs: food, housing, clothing, kids college fund…..? You get the point.
Let me know your thoughts in the Comments.