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law graduate, better futurn in law firm or IB?

Discussion in 'Business, Careers & Education' started by soymilk*sion, Jul 28, 2010.

  1. soymilk*sion

    soymilk*sion New Member

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    Since I am not familiar with these industries, cannot decide which one is better.

    -.- futurn -> future
     
  2. Joffrey

    Joffrey Senior member

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    Bulge bracket IB for win! Goldman or go home.
     
  3. AR_Six

    AR_Six Senior member

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    How did you manage to grad law without knowing anything about the landscape?

    The answer, obviously, is "it depends".
     
  4. Flambeur

    Flambeur Senior member

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    How did you manage to grad law without knowing anything about the landscape?

    The answer, obviously, is "it depends".


    word
     
  5. lawyerdad

    lawyerdad Senior member

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    Depends on whether you have functional buttonholes.
     
  6. Joffrey

    Joffrey Senior member

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    Wouldn't he have to be a partner or managing director/senior vp to get away with functional button holes? I think it would be uncouth for associate/analyst to arrive at work dressed so.
     
  7. AR_Six

    AR_Six Senior member

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    Currently displaying functional button holes. Overshooting worth to BIGLAW firm? No, ambition towards PARTNOR-dom.
     
  8. Journeyman

    Journeyman Senior member

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    Since I am not familiar with these industries, cannot decide which one is better.

    -.- futurn -> future



    Don't you have to at least know something about law firms if you are a law graduate?

    I have no experience in investment banking, but I do have some friends who work for GS, MS and others. To listen to them talk, the work is quite limited. However, due to time pressures, and the amount of money that you are moving around, it can be both an adrenaline rush and also quite stressful.

    I do have experience in law, and I can say that the work is often quite intellectually interesting, although bits of it are mundane and relatively boring. If you work in an area that involves courtroom work, it can be really challenging and enjoyable.

    Both can involve long hours and can impose pressures on family and other relationships.

    Both can pay well, although obviously at the upper tiers, IB pays far more than legal work.
     
  9. oman

    oman Senior member

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    he's from australia, law is an undergrad degree there

    i wouldn't compare him to people working for GS or MS
     
  10. arirang

    arirang Well-Known Member

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    Is a JD a typical path to IB-dom? How are the two even connected?
     
  11. swaggerisaliability

    swaggerisaliability Senior member

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    Is a JD a typical path to IB-dom? How are the two even connected?

    OP's from Australia, where you can major in law as an undergrad. He's not referring to a JD, so his case is like any humanities major going into banking in the states, a path that's more common than expected.
     
  12. mr. magoo

    mr. magoo Senior member

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    As a relatively experienced attorney in NY (>10 years), bankers seem to enjoy their jobs and life more than lawyers do. I know very few lawyers who don't wish they hadn't pursued another path. That being said, it would be very useful to be interested in finance or business for banking. Otherwise, it sounds equally dull yet stressful.
     
  13. mafoofan

    mafoofan Senior member

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    As a relatively experienced attorney in NY (>10 years), bankers seem to enjoy their jobs and life more than lawyers do. I know very few lawyers who don't wish they hadn't pursued another path. That being said, it would be very useful to be interested in finance or business for banking. Otherwise, it sounds equally dull yet stressful.

    I have only a fraction of your experience, but my observations are similar. Almost every BigLaw lawyer I've met has some serious reservations about his or her career. In contrast, every ex-BigLaw lawyer in investment banking seems to be exceedingly happy with having made the switch.

    I think the reasons why are fairly self-evident. To enjoy corporate law or commercial litigation, you've got to believe your corporate clients do good, meaningful work. Too many BigLaw lawyers don't believe that--so, obviously, they have a hard time appreciating what they do everyday. They're just selling their souls bit by bit for an upper middle-class paycheck. On the other hand, those that do believe it might find a career in business or finance even more rewarding. As lawyers, they feel like they're on the sidelines, while making less money and carrying only slightly less risk. It seems to me you've got to love business and really, really love thinking about legal issues to not feel suicidally depressed in BigLaw. That's rare.
     
  14. aleksandr

    aleksandr Senior member

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    I have only a fraction of your experience, but my observations are similar. Almost every BigLaw lawyer I've met has some serious reservations about his or her career. In contrast, every ex-BigLaw lawyer in investment banking seems to be exceedingly happy with having made the switch.

    I think the reasons why are fairly self-evident. To enjoy corporate law or commercial litigation, you've got to believe your corporate clients do good, meaningful work. Too many BigLaw lawyers don't believe that--so, obviously, they have a hard time appreciating what they do everyday. They're just selling their souls bit by bit for an upper middle-class paycheck. On the other hand, those that do believe it might find a career in business or finance even more rewarding. As lawyers, they feel like they're on the sidelines, while making less money and carrying only slightly less risk. It seems to me you've got to love business and really, really love thinking about legal issues to not feel suicidally depressed in BigLaw. That's rare.


    I realize this isn't exactly the best place to ask this, but I'm contemplating making the switch in a couple of years. What should I be looking at between now and then to make me attractive to BigBanks? Currently a third year in BigLaw.
     
  15. Butter

    Butter Senior member

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    Jul 24, 2010
    Whichever your talent aligns with better is the better choice.

    Some hate reading, some hate math.

    If you hate reading, do IB. If you hate math, do law.

    If you hate both equally and want to hang with big dogs all the time, do management consulting.
     
  16. cwh812

    cwh812 Senior member

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    Feb 24, 2009
    I realize this isn't exactly the best place to ask this, but I'm contemplating making the switch in a couple of years. What should I be looking at between now and then to make me attractive to BigBanks? Currently a third year in BigLaw.

    I'm making this switch this month - from Biglaw firm to Bigbank. Honestly, you gotta be pretty lucky. I was a generalist in coporate for 4 years (about to be a 5th year) - didn't pigeonhole myself into a specific area - I can do M&A, private equity, securities deals. When interviewing people seemed to like that as I am taking on a role in compliance that is not specific to any of my previous practice areas.

    Other colleagues (far more qualified than myself) have had a hard time moving in-house to a bank. I've asked around and since I gave notice the question I get from other associates most often is how I landed the job. My resume got submitted through a recruiter and someone saw something that caught their eye and called me in for an interview. I feel like I interview really well, but at some point I asked my recruiter how many resumes got submitted for the position and she told me 100 - they called only 5 in for interviews.

    Do you know anyone at banks? Having contacts helps, but the problem is that my friends who I went to college with who work at banks are just at the stage now where they are making VP. They really don't have any kind of influence yet. Another thing is always keep your eyes and ears open. I think I would have liked to stay at the firm for another year (I was getting great experience), but I just couldn't pass up this opportunity.
     

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