UK Junior Lawyers Working 70-Hour Weeks to Justify Salaries, Say They 'Haven't Seen Sunlight in Months'

Welcome to your November 12 newsletter...

UK junior lawyers are reportedly working 70-hour weeks to justify their salaries, claiming they rarely see sunlight - highlighting the intense pressures faced by young legal professionals. On the other hand, we also learn of Tesla's "golden handcuffs" pay scale, as well as enticing side hustles you can do in time for the Holidays - all these and more in today's Money Making Moves...

In the Fast Lane of Business...

> Junior lawyers in London endure intense work schedules, often exceeding 70-hour weeks, to justify high salaries offered by top law firms. U.S.-based firms in London have raised the stakes, offering starting salaries of around £170,000, contingent on meeting high billing targets, which has intensified the culture of overwork. Concerns are growing over the health and well-being of these young professionals, who are frequently expected to be available at all hours, blurring work-life boundaries. Across the industry, high salaries come at a significant personal cost, sparking urgent conversations around sustainability and mental health support.

> Tesla attracts millions of job seekers annually, but only a few receive offers, facing a choice to accept lower base salaries in exchange for potentially lucrative stock grants. An analysis of Tesla's pay data from December 2021 reveals the company offers lower base salaries compared to industry peers but compensates with substantial stock awards, creating a high-risk, high-reward pay structure. This approach is designed to attract "hardcore" workers willing to make sacrifices for a chance at significant future payouts, as reflected in Tesla’s rigorous hiring process and emphasis on stock-based compensation. While Tesla’s stock grants have made some employees wealthy, they also serve as a retention tool, with some workers comparing them to "golden handcuffs."

> Following the 2024 U.S. presidential election results, online searches for moving abroad surged, reflecting frustration among Americans disappointed with the outcome. Google Trends showed a peak in searches like "how to move to Canada," particularly in Democratic-leaning states and key swing states like Wisconsin and Pennsylvania. A survey found 21% of Americans would consider moving abroad if their preferred candidate lost, but only a small fraction expressed a strong likelihood to follow through. Canada topped the list of preferred destinations, with other favored spots including the UK, Japan, and Australia, driven mainly by interest in culture, jobs, and healthcare.

Unique Business Idea For You

After experiencing the frustration of limited shoe options for women with larger feet, Ahriana Edwards founded Vaila Shoes to fill a gap in the market by offering stylish, well-fitting footwear. The 23-year-old entrepreneur from Charlotte, North Carolina, launched her brand in 2022 after raising capital and recently secured a wholesale deal with Macy’s. Vaila stands out by designing shoes specifically for extended sizes, featuring features like thicker heels and spacious toe boxes, unlike competitors' general lifestyle offerings. Despite challenges pitching to male-dominated investors, Edwards' persistence has turned Vaila into a growing community-driven brand, addressing the needs of diverse groups including LGBTQIA individuals and athletes.

Side Hustle You’d Be Crazy Not to Try

TikToker and side hustle expert Chap (@adamrchap) turned holiday decorating into a profitable business, charging up to $1,200 to install Christmas lights per house. He taps into a market of clients willing to pay for professional decorating to avoid the hassle and risks of doing it themselves. To maximize income, Chap offers premium packages, including both exterior decorations and Christmas tree setups, priced at $2,500. This allows him to increase profits by doing fewer, high-value jobs while reducing his overall workload.

Personal Finance News

> University students often struggle to find discounts and save money, but these apps offer helpful solutions. UniDays provides student discounts on subscriptions like Spotify and Adobe, making it easy to browse deals by logging in with a university email. Krazy Coupon Lady simplifies finding grocery discounts, helping students save on essentials, though using multiple coupons may require multiple transactions. Ibotta offers rebates for scanned receipts, sometimes even providing "money makers" that pay users back more than they spend, making it a great way for students to earn small returns on purchases. Joinhoney.com on the other hand, is a browser extension that automatically finds the best couponing deals. 

> Florida-based Villa Vie Residences has launched a four-year global cruise package, the "Skip Forward" voyage, as a response to Donald Trump's re-election, offering an escape for those wishing to avoid U.S. political turbulence. The luxury Odyssey ship travels to over 425 ports across seven continents, providing a "floating home" experience complete with high-end amenities. Villa Vie also offers shorter one-, two-, and three-year packages, all tailored to allow travellers to evade political and social stressors. While the venture has seen strong interest, the cruise has faced occasional logistical issues, with most participants praising it as a unique break from daily life.

> The cryptocurrency market is experiencing a bullish surge following Donald Trump's re-election as the 47th U.S. President, with digital tokens like Bitcoin and Ethereum rising in value. This comes as the U.S. SEC approved Bitcoin exchange-traded funds, bolstering global acceptance of cryptocurrencies. Meanwhile, First Neiro On Ethereum (NEIRO) saw a 28% rise, reaching record highs driven by strong trading momentum, though it faces potential short-term correction due to an overbought market. Additionally, the new PEPE Unchained (PEPU) meme coin raised $25 million in presales, promising scalability and high staking yields, which has spurred significant investor interest ahead of its launch.

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