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I’ve done M&A in Tokyo and in the US at major firms. Tokyo is an amazing city to live, but I much prefer working in the US. Many of the western firms face an uphill battle trying to charge US rates to Japanese clients who are shocked at the bills (particularly with the weaking yen). This impacts you as a junior because it was harder to make hours and partners seemed more stressed with business origination and collection. Unless you are at one if the handful of major players, like mofo, you also won’t get the reps/experience that would be recognized in the US.
I spent a few years as a junior M&A associate at MoFo Tokyo roughly fifteen years ago, so my information is out of date. At that time, the hours seemed difficult, compared to the California office I had transferred from. Many associates had cots in their offices for a quick nap during frequent all nighters. Clients would call my land line at 2am (when their deal was _not_ active) and not be the least surprised when I picked up. Caution that home leave was not universally honored—they gave me Fri/Sat/Sun “off” for my sibling’s wedding (which took place in the CT time zone) and that was it for leave for the entire year (rest assured I worked through everything but the ceremony and reception). Financial package was top notch and enabled me to pay off my student loans quickly. Overall, an incredible learning/personal growth experience. Hope others are able to respond with current info.
Thank you so much for sharing! I’m currently in the process of interviewing for MoFo Tokyo and although i know that things are likely much different between now and 15+ years ago, just wondering if you recall how long it took from callback to offer?
I was with OMM in Tokyo for 2 years prior to Covid doing arbitration work. Most US law firms in Tokyo have a hard time retaining because most associates come in with a sakura-tinted view of Tokyo and end up having a hard time adjusting.
If you are moving internally, goes without saying, you would need a convincing business case. If you are lateraling, then you would potentially find a high hurdle of convincing firms to take you on as they would fear losing you within a year or two.
If you speak Japanese, have some sort of link with Japan or have a genuine interest in developing a career in Japan, then that hurdle might just a bit lower for you.
Get your reps in the U.S. before moving. Either be fluent in Japanese or have experience under your belt (law school prestige matters too). Don’t move unless you’ve lived in Japan before or otherwise have strong ties.
COLA is give or take 400k yen for top firms. A lot of firms pay way below market.
Coach
Do you speak Japanese?
Did not work there. People told me the work culture is insane. You have to be at the office until 3 or 4 am even if your deal is not about to close out soon.
Have heard cola ranges as low as 60k to 95k as of couple years back.