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What practice area would you be switching into? How many fewer hours? How much less compensation? Will the compensation gap compared to Biglaw widen over time? What are your long term career aspirations?
Thanks! It’s frankly terrifying to leave where I am, as it was a big accomplishment to get here for me, and a lot of people would never pass it up, but big law is feeling more and more wrong as I look closer at the lives of those senior to me.
Pro
Probably wouldn’t do this, unless you were looking to move into a boutique. Another exception might be if you are specializing in a niche area that is not found in big law, perhaps such as trust and estates.
$10k cut to base, I’d probably not make a bonus this year or if I did, it would be a small prorated one. They can’t afford a signing bonus to make me whole, but I’m being offered $30k above the position’s posted range due to my substantial experience in the field. So total hit would be around $50-55k if we consider me making my bonus at my current firm. But seeing the light of day during the holidays has value to me as well.
I would stick it out and either move in house or to another firm in M&A. I say this because I think compliance work would be brutal long term compared to deal work and also because skill set will significantly increase with another 2+ years of biglaw M&A.
It is, but compliance work will never keep me at my desk until 3am because the client will lose their minds if they don’t see the fully compiled disclosure schedule by 6am on Christmas Eve (true story).
I made this move a decade ago, and it has worked out fairly well for me.
Any regrets or things you’d do differently?