the second-year associate makes $127.50 per billable hour if they bill 2000 hours that year. if you include non-billable work, that number decreases. check out @cecexie & @cecexie for more about “billable” hours. the firm, ofc, expends substantial $$ on associate training, resources, development, and other perks, and relies on this economics of biglaw to cover those costs and then hopefully turn a profit that is split among the partners according to the firm’s particular profit distribution rules