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I worked at Turocy & Watson full-time (More than 5 years)
Merit based: employees that perform well get better opportunities. Earning potential is directly tied to output. Excellent training for young associates. Experience at this firm is whatever you make it...
It's a law firm - law firm's are busy, hectic, and sometimes not very kind places. It's up to you to balance life and work, the potential is there to be run over by the machine.