Year 2, week 1: MoneyMatters
At lunch today I overheard OldSmoothie asking one of the pupils what area of law they wanted to do when they grew up.
âCriminal defence,â the answer came back.
âOh, thatâll change,â replied OldSmoothie. âYouâll struggle to push it above two hundred doing that.â
âTwo hundred pounds a day doesnât sound so bad,â replied the pupil.
âSuch a lot to learn young man. Two hundred grand and thatâs in a year. Itâs the absolute bare minimum if youâre going to maintain any sort of middle class life in this town. And thatâs assuming your kids get scholarships and that you can put up with living in some grotty terrace in south London.â
October 5, 2007
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Tim Kevan ¡
4 Comments
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4 Responses
That is why I do my criminal defence in Belfast!
Does he mean 200K annual fee income?
By the time you’ve paid chambers and other professional expenses (say 50K) pension contributions (no employer’s pension scheme) and income replacement insurance (no employer’s sick pay to fall back on), and then paid tax on the remainder, it seems a bit less obscene.
Is it time to update the “The story so far” side bar? “Babybarista is no longer making coffee. Having disposed of his fellow pupils by underhand means, and escaped disbarment by the skin of his teeth, he is now trying to make as much money as possible as a young barrister. Others may think that the trade is 99% hard work, and 1% luck, but he seeks to win cases by subterfuge.”
well when considering most people earn bout 18-20k it still seems obscene to me.
Oh I hope to earn that kind of money, i’d do it for 50k, How much do you reckon I’ll earn doing family law?