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>$1,025-an-hour partners.

TIL some people make literally a 100 times what the average person makes.

That's what they charge for partners. Normal people easily get charged out for 50 USD per hour. Try calling a plumber to see for yourself.

That doesn't mean that they actually get that much money for every hour worked, since the billed hours have to pay unbillable costs like office rent, admin overhead, taxes etc.

If you are willing to look beyond the rich world: world average GDP per capita is something like 10k USD. At 2000 hours worked per year, that 0.5 USD per hour.

Your `average' person already makes 20 times as much as the actual average person.

(Keep in mind, that the median is lower than the average. Check out http://www.bbc.com/news/magazine-17512040)

> If you are willing to look beyond the rich world: world average GDP per capita is something like 10k USD. At 2000 hours worked per year, that 0.5 USD per hour.

No it isn't. It's $5 an hour, barely under the US minimum wage.

Thanks for catching that! Sorry, I obviously can't do arithmetic.

Interesting that the global gdp is that high, actually.

Comparing to the minimum wage is still a bit misleading, since the wage share of GDP is far from 100%.

They make roughly 500k-3 million if they bill that rate. Potentially more if they have huge clients but that's rarer.

Firm partners are heavily compensated based on how much work they bring in, at most firms. But it varies.

And what's the value of a law firm partner who helped set up and oversees an operation that saves you from a patent troll?

This firm was diligent enough to question the very basis of the lawsuit and ferret out evidence that evidently neither of the parties realized they had that the patents had been properly bulk licensed. I've worked with some very good corporate lawyers, and learned from them and other sources that such diligent competence is by no means a given.

Some Americans make literally tens of millions of dollars per day

They can also lose $100m+ in a single hour. The math is so incredible, it's really difficult to get one's head around.

My friend plays a lot of competitive poker. He'll show up after months of being off the grid muttering about being in the middle of a $50,000 downswing, and disappear once he's mentally refreshed enough to make another minor fortune.

online poker ?

Yes, a few games at the same time. It's pretty impressive to watch.

i had a friend in a similar position a few years ago (but living in the US) - he ended up having most of is money locked up when poker stars and the other major players we out of business - im not sure if he got it back ...

Except most people are paid a pittance, when there is plenty of capital to go around. Just look at the income distribution of the 1950's compared to now.

You really should be more educated about reality and acfual statistics.

Go watch the Park Avenue (2012) film on PBS.

They don't make that. That's what you're charged for having them. Some of that goes to their salary, or however they're compensated by their firm. The rest of it goes to operating the business/partnership. Same for the juniors and paralegals.

Most partners don't really see all that money, but they still probably take home a significant percentage of it. IP litigators have very specialized knowledge, that's why they charge so much.

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