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I would take the opportunity. I feel like you can almost always return to a firm but that opportunity is more scarce to come by.
May have a hard time going in-house with only a year or two of legal experience. Otherwise it sounds like a good opportunity for you.
Pro
Are your loans paid off?
Nope, but I'm 100% sure that I'll burn out by year 4 anyway, so I should be able to comfortably handle the loans on a comparable salary.
Chief
Do you think there’s room to move to an in-house legal role from this compliance position? I don’t think it’s too soon to go in-house for the right job. But I’d be wary of switching to a non-attorney role, that is often v difficult to come back from.
I don’t know how you feel about compliance, but at my in-house job, the non-attorney compliance person seems to have a miserable job of (1) doing a lot of research to figure out compliance needs, (2) scolding business people about the things they should be doing from a compliance perspective, getting ignored, (3) complaining to her boss, the GC, getting ignored because the GC has a million things going on and enough fights with the business teams already, and (4) making way less money and getting much less respect than the attorneys at our company.
Compliance at FAANG may be a lot different. If you think you’d be happy in a compliance role long term, go for it. If you think this is a stepping stone to other in-house legal jobs, I don’t think that’s impossible but do some research first, talk to other compliance people (LinkedIn, law school alums, association of corporate counsel) and see how feasible that is.
Look - there’s no going back to legal from compliance (generally). Plus, even if it’s important etc. compliance is not the business’ favorite department. Value protection is always harder to sell than value creation.
Exit opportunities from that role would probably be law firms with big corporate investigations departments and a few select consulting firms that also do that (Control Risks, Alvarez & Marsal, etc. to name a few). And there’s not much attorney-ing involved in these roles.