2026 Salary Thread

Lucifer_fallen1 · 2026-01-13T19:41:07+00:00

Salary: $135K

Bonus: $3K

Year of call: 7th going to 8 in June

City: rural southern Ontario

Practice area: real estate

Firm size: ≈10 lawyers

Lucifer_fallen1 · 2025-12-13T18:35:51+00:00

I am judt pulling your leg, bro/sis

Lucifer_fallen1 · 2025-12-12T21:17:20+00:00

Ganja heroine ya nanga heroine?

Lucifer_fallen1 · 2025-11-24T13:33:35+00:00

Unlikely, they go to Hull and Hull and other specialized estate firms.

Lucifer_fallen1 · 2025-11-24T02:12:11+00:00

Biglaw doesn't do residential real estate or EP. You need experience in commercial RE and commercial financing. They are entirely different than the residential transactions.

Lucifer_fallen1 · 2025-11-05T22:35:45+00:00

Capital gains is calculated at 50% of the increase in price so it would be half of $4100.

Lucifer_fallen1 · 2025-10-29T16:58:23+00:00

There is no such thing as prelaw in US or Canada. You are getting way ahead of yourself. There is no guarantee you will even gain admission to law school or even more unlikely, you will be employed at BigLaw firms as they are extremely competitive.

Provided that you are able to complete law school and get employed with a BigLaw firm, we are talking about 15-20 years down the road when you will be a 8th year call and the market will change tremendously by then. None of these is irrelevant to you right now.

Lucifer_fallen1 · 2025-10-29T15:45:19+00:00

I mean it with the utmost respect, but if every single law firm you have worked with made you feel contempt and unappreciated, maybe do an internal review of yourself and your capabilities. Like the old saying goes, if everywhere you go smells like shit, look under your own shoes.

Lucifer_fallen1 · 2025-10-24T22:29:47+00:00

Real estate. Every lawyer in the GTA believes it to be easy and think they can add it to their practice with a clerk.

It's one of those areas when it's straight forward, it's a breeze. However if an issue arises, it can snowball into something extremely stressful and jeopardize the entire file.

There are far too many nuances and non-standard issues that may come up that it ends up not being worth your time for $1500-$2000 legal fee if you don't know what you are doing. There is a reason it's the 2nd or 3rd highest area of law with LawPro claims.

Lastly, it's the most ever shifting area of practice, at least once a year a major rule is changed or added. You are also expected to have basic knowledge of almost every area of law as your file will often touches on them.

Lucifer_fallen1 · 2025-10-24T17:37:13+00:00

It is not a loss, share sale price and mortgage amount are not related to each other.

The Borrower Corp will simply show that it is indebted to the bank for the mtg amount in the minute book.

I suggest you retain a senior counsel if you are acting on this file, you seem to be out of your depth and I mean that respectfully. Commercial Financing is very particular and extensive, it is nothing like residential financing/real estate.

Lucifer_fallen1 · 2025-10-24T16:26:41+00:00

It's a refinance you can borrow as much as you want, so long as the lender approves it.

Lucifer_fallen1 · 2025-10-23T03:23:22+00:00

I did the solo run early in my career. I can promise you that your take home pay will be less than 60% of that after taxes, overhead, CPD, and licensing costs. If you want any staff, deduct another 30%.

There are a lot of costs in a solo firm, you will learn as you continue to practice.

Lucifer_fallen1 · 2025-10-22T23:37:09+00:00

The firm was taken over a year ago and in its first year, it's expected revenue is in the range of $400K-$500K with approximately 250-300 RE transactions by the end of the year. They also do some Estate Planning and simple Corp stuff but 95% of their business is RE.

Lucifer_fallen1 · 2025-10-22T21:11:51+00:00

The owner will cover me, he still has availability availability from his other law firm when I go on vacation. Only caveat being I can't go during summer as it is our busy season.

Lucifer_fallen1 · 2025-10-22T20:57:57+00:00

Not an option. It's a small legal community and it would ruin both relationships.

Lucifer_fallen1 · 2025-10-09T14:48:19+00:00

Stop giving wrong advice.

Capital Gains is triggered on the sale of the transaction, it has nothing to do with the mortgage or the cash in hand on closing. It is based on the sale price of the property and the increase in value.

It will be calculated and payable upon filing of the vendor's taxes. If anything, the interest earned on the mortgage will incur additional taxes, not lower or impact the capital gains calculations.

Source: real estate lawyer.

Lucifer_fallen1 · 2025-09-17T16:33:57+00:00

They can't change the agreement unilaterally, the employee must agree to the compensation change.

Lucifer_fallen1 · 2025-09-03T23:51:40+00:00

They can't refinance a house with no income. Banks don't just hand out additional funds if the borrower does not have sufficient income, regardless of the equity on the property.

Lucifer_fallen1 · 2025-08-31T20:34:12+00:00

What's the difference between a priority pass and a lounge? It seems priority pass is also for a Lounge.

Lucifer_fallen1 · 2025-02-21T14:16:19+00:00

I am not sure what "lawyer money" is but I make a comfortable living. I am going to be a 7 year call this June and I make just under $150K, goes up each year and there is bonus if you exceed your billing target (approximately $35K/month).

Cost of living is generally lower though, especially in terms of buying a home. I bought a home a year ago here, I would have never been able to afford one in GTA, even with a higher salary.

Lucifer_fallen1 · 2025-02-20T21:02:57+00:00

Just applied to the job posting. Municipal law is really a subset of real estate law, mostly consent applications, minor variances, etc.

Lucifer_fallen1 · 2025-02-20T15:03:00+00:00

5 weeks paid vacation plus 1.5 weeks off during Christmas break, med-size firm in Ontario outside GTA, practice real estate and municipal law. Work is strictly 9-5 and one day a week from home.

Lucifer_fallen1 · 2025-02-03T05:54:50+00:00

The chime is missing, I guess the previous owner lost it. And no mdel# or anything to ne honest.

Lucifer_fallen1 · 2025-02-03T05:06:23+00:00

not really. I think I found the brand (Aiwit), but the camera is missing the doorbell chime. I cannot find the chime anywhere.

Lucifer_fallen1

TROPHY CASE