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I hope some genuine people are their in Fishbowl
Just now finished my MBA, So I'm looking for a role in Finance domain and I would appreciate your support.
My focused area is Investment banking, Financial markets, Financial analysis and reporting
I know you people will help me and I'm very grateful for you guys.
https://www.linkedin.com/in/manju-ram
How is performance measured at MBB?
SCORES ARE UP!
Any openings for cloudera databricks ?
Chief
Feeling grateful today. 🥺
Additional Posts in Big Law
Do you think Milbank hate DPW?
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When did you receive your signing bonus?
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Yes (senior associate, up soon). Money is fantastic, like the work, like feeling good at it, idea of going down to a less competitive job is unappealing to the part of me that craves to strive and triumph which is just a bit stronger than the part of me that minds stress.
Well said and amen.
Counsel and chill might be more up my alley
Subject Expert
Nope, would rather make less money (but still way more than most people make) and have time with my family and friends and to enjoy hobbies and actually be off the clock instead of constantly available to work.
No. I don’t need that much money but I do need more time and sleep away from work.
Coach
Yes. Currently a midlevel at biglaw.
(1) The work is interesting. It gets more interesting as I grow and experience more. There is no end to learning. Granted I’m a specialist in a transactional setting so the situation might be different from your general corp associate.
(2) Money. No other job will have this level of guaranteed payment & raise every year to a humanities and/or social science major that simply went to school for another 3 yrs for reading & writing training (“guaranteed” = the base pay; sure, RSU/options comp driven roles have potentially a crazy upside, but there’s also a significant downside too - nothing is guaranteed about equity). Being an NEP is ok - sure it’ll suck the first couple of years, but there’s def a pretty big level of bump in play as you continue to prove you are valuable. What’s wrong with proving myself? You have to do that in any job. See: Michael Scott’s Paper Company (lol). In any event, potential 7 figures in my 40s do not sound bad to me at all.
(3) No longer up or out. This is a new trend. If you stick it out long enough you can stick around longer, whether as a super senior associate, counsel, or NEP. You continue to ride that biglaw “gravy train” even if you have zero book. This is a new phenomenon which creates a bit of “stability” and “predictability” (I know not the best diction for any biglaw practice, but from a perspective of not losing my job and understanding bottomline cash flow). Heard from my banking/PE/HF friends up or out there is much more serious and if you don’t make VP, you are out.
(4) Smart colleagues. I’ve been in different firms (“prestigious” to “regional”; now somewhere in between), and I must say as long as your colleagues are not full of themselves (thankfully my current firm has a good balance from that perspective), I don’t think it’s easy to find a setting in which everyone is in one way or the other, smart. Sure, Google engineers are prob on average smarter than a bunch of lawyers in biglaw, but you get the point. (See: Dunder Mifflin).
I know we love to hate on our jobs (and there certainly are a lot of things I hate about it - for instance, why am I on Fishbowl on a Saturday morning instead of playing with my kids? ‘Cause I don’t wanna look at the SPA that needs to be turned over by tonight lol), but thought I’d share some positivities as we inevitably continue to internalize that grass is greener. Perhaps it isn’t.
Subject Expert
This resonates with me, A9!
Lots of firms are still up or out but my firm/my practice is similar where I have a fair amount of job stability even if I never make partner, although I would like to eventually.
Nope. Left after just after 4 years. Work is not life, and as a partner work is. Money can be achieved elsewhere, without the same sacrifice, and money should never be the motivator (not that associate above said so). Law more in general is only one piece of the puzzle in any deal, transaction or decision: there are other advisors / roles which are more three dimensional, diverse and challenging.
I don’t think I can answer until I’m at least a 5th or 6th year
6th year here. Still not sure.
Enthusiast
No. The work is not as interesting as it’s claimed to be. The hours don’t improve as a partner. I couldn’t advocate for client positions I don’t believe in in the long term (and it’s clear to me that the longer you stay in big law, the more that towing the client line warps your ability to see things objectively). And, there are much better businesses that I can invest money in. If I stay in private practice, I’ll go solo and maybe buy some properties to manage.
Hell to the no.
Yes. I like the business of law more than the practice of law, but I also genuinely like the practice (on most days).
Subject Expert
Yes, I have a long career ahead of me and a family to support. People keep saying there are other options, but as a litigator, I can't think of any that I would enjoy more that biglaw. I've tried working at small firms, and I definitely do not want to go back to that.
Subject Expert
8th year and nope. I’m have already told my group this. I plan to ask for a remote of counsel position and if they say no, take a remote in house position.
I might be down for partnership down the road, but I’m just not interested right now. I sort of feel like a teenage lawyer that needs a gap year before deciding what to do next. I’m not quite ready for partnership, in no small part because of where I am in my personal life. I want to have kids before taking any new responsibilities.
Senior here. I always wanted to but my answer has changed recently to a no. It requires ridiculous billing to get there, immediately no. I’d rather spend time with my family. But even after you make partner, it adds to stress, does not eliminate it. Once your title changes you’ll need to do less legal work which means having good deputies to run the work for you is key and from personal experience that’s very hard to find. So, No thanks.
Subject Expert
This changed for me too! I was at a below market biglaw firm which was great for me (making partner on 2000 hrs >>> 2400 hrs), but I also saw impact on ability to recruit talented junior and mid-level associates and knew it would stress me out as a NEP.
Subject Expert
Nope.
Enthusiast
Maybe. Right now (5th year) it feels plausible and my job works for me/my life. If that changes at any point, then no.
Subject Expert
I don’t know. I’m at the top of my field (probably #1 firm in practice area) currently with good job stability (firm is not up or out) but that also means incredibly high standards and v difficult to make partner here.
I could lateral and make partner at a lower ranked firm where maybe they don’t have much presence in my practice area but are looking to expand and I’d be the expert there (big fish small pond). I’ve talked to a couple firms about it but decided against. That sounds like a lot of extra stress and pressure for the “partner” title, and pay may not even be as good as what I make now, although upside potential down the line.
I have been with current firm a long time, enjoy my colleagues, love the challenge of doing the most sophisticated/challenging deals, I like feeling surrounded by the best lawyers in the field where they’re always available and willing to consult on tough issues etc. But it feels like I’m never going to be a big fish here. Sticking it out for now, we’ll see in a couple of years if partner here feels more realistic or maybe I just want to stick around as counsel indefinitely, also not a bad gig if I can get past my own ego/ambition.
No. God, No. There's nothing about biglaw partners' lives that I want to emulate. I do enjoy practicing law but have interests outside of work that I'd like to be able to cultivate. I really love spending time with my husband. And, I want more autonomy over my practice and more control over my time. Trying to stack this cash now so me and hubz can pursue other business interests later.
Subject Expert
Yes, and then no. Worked very hard for a decade to make partner, was just about to get it (from what I was told), but then an amazing in-house opportunity came up that I couldn’t say no to. No regrets and haven’t looked back. I would have been super proud as partner and it would have been a huge achievement, but I knew what that day to day looked like and I was stressed and miserable. The partners I worked with were kind, but they worked all the time - vacations, funerals, illness, weekends, night, etc. I knew I could do it and be good at it, and the money could be great even as a NEP with equity 3-5 years down the line, but my new job doesn’t even compare. I’m actually having so much fun as an attorney and I only sparingly felt that in biglaw.
I always assumed I wouldn’t because I don’t think I’m good at networking to get clients, I wouldn’t know how to go about it etc
Enthusiast
Yes, but because of the mobility and stamp of approval that comes with it. If I were to move to a smaller regional or boutique or go solo after 2 years as a former big law partner, the experience comes with a certain aura of credibility and makes clients feel like they’re getting a deal when they pay 2/3 big law partner rate.
I could go to a 10-lawyer business lit shop and charge $7-800/hour and take home a lot of it. Also helps advertising to that smaller business client — you can’t afford big law, but you can still get the talent/experience with me.
This seems like an excellent option. Former big law lawyers who set up their own shop seem to have found a good sweet spot in the industry.