Dream Job…

I am going to put it out there. My dream job right out of law school would be to join the Bank’s legal department as an attorney and my dream starting salary would be $90,000. Then, I will get to remain with an organization that I like working for, I would get the opportunity to work on a vast number of issues and I would finally get the loads of experience that I am so thirsty for.

Now some people would say that $90,000 is a low salary for an attorney in Chicago but not to me. For one, everyone who is already in the working world knows that it is hard to make a huge salary jump within the same organization. Usually, you need to jump ship to another organization and come back to make the salary that you desire. My current base salary with bonus is $60k. Plus there are other incentives that bring my total compensation package to ~ $75,830. Therefore, a $30,000 increase in my base salary is within reason with my new law degree, the tenure I have with the company (8 years) and my current and future potential. With a base salary of $90,000 and the inclusion of all the extra incentives, my total compensation package would total approximately $120,255.

Other incentives include:
Retirement – 5% match
Employee Share purchase plan
Vacation – 22 days
Bank Holidays – 10 federal holidays
Medical
Dental

Not included is the pension plan that the bank also offers. Currently, I have over $16,000 vested in the pension plan. So in the end, while I may not go and work for a mid/large firm making between $125-160k in my first year, I will still have a good compensation plan, probably have better working hours and I will be with an organization that I like working for. I really like the people here at the bank and I have a good reputation and good relationships with the people here. The only downside to staying is the lower salary but there is a lot more upside to staying with the bank.

So there you have it, I am putting it out there and claiming it. I am heavily exploring opportunities right now. It is my goal to exhaust all of my connections here before I have to make an exit. No matter what, I have six months before I really feel the financial strain. That should be plenty of time for me to make my transition into the legal department if it’s meant to be.