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. 
“Criminal defence,” the answer came back.

“Oh, that’ll change,”  replied OldSmoothie.  “You’ll struggle to push it above two hundred doing that.”

“Two hundred pounds a day doesn’t sound so bad,” replied the pupil.

“Such a lot to learn young man.  Two hundred grand and that’s in a year.  It’s the absolute bare minimum if you’re going to maintain any sort of middle class life in this town.  And that’s assuming your kids get scholarships and that you can put up with living in some grotty terrace in south London.”

October 5, 2007 · Tim Kevan · 4 Comments
Posted in: Uncategorized

4 Responses

  1. BonaraLaw - October 5, 2007

    That is why I do my criminal defence in Belfast!

  2. INFORMATION LAWYER - October 6, 2007

    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.

  3. Abigail - October 8, 2007

    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.”

  4. Edward - October 8, 2007

    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?