Make the Right Career and Lifestyle Choices Early
It should come as no surprise that the higher the amount of debt you have, the more money you will need to make to repay it. This means that you will have to make some very important decisions early on in your career to help you maximize your earnings, reduce your debt, and begin saving for tomorrow.
Relocate
This is the time in your life when you will have the most flexibility when it comes to where you live. Take advantage of it by finding a job in a state or city where salaries are higher.
Negotiate Job Offers and Raises
Do your research on salary trends for the position and location you want, and always try to negotiate the original offer. When it comes to raises, always be willing to take on extra work and make it known that you want to get to the next level. Keep a record of all your contributions that go above and beyond your responsibilities so you can negotiate a raise.
Work for a Larger Law Firm and Live Below Your Means
Larger law firms tend to offer higher salaries and better benefits, and some may even offer help with some student debt repayment. Working for a larger firm will not only help you start to build a great network of colleagues and experience but the right firm on your resume today could also help you land your next dream job tomorrow, perhaps at a smaller firm. But remember, making a decent salary doesn’t mean you should blow it on rent in the trendiest apartment building, and you should not rack up credit card debt to live a lifestyle you can’t afford. You have your whole life ahead of you along with a very long earning potential.
Have a Career Plan
Create a plan for yourself that includes not just goals but steps to get there. If your goal is to make partner within a certain number of years, then you need to be laser-focused on the steps you need to take to get there. Start by knowing the promotion process at your firm and setting achievable milestones.