Has anyone lateraled from a big law firm senior associate (9+) position to an in-house M&A position at an I-bank? What was your experience and did you have to take a pay cut? Are the hours better or worse than big law?

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I’ll give you an answer since you’re not getting any real ones. Let me preface with this, though: Being in-house at a bank is not an easy gig. The toxicity of being a lawyer at a bank is probably second only to biglaw.

As to your questions: hours are better than biglaw — not good, but better. You probably will have to take a pay cut; but you do get paid well for in-house. Unfortunately, that also makes you a cost centre, so you find yourself having to justifying your existence more often than you’d like. On the flip side, those lawyers who do manage to stay employed, are very high caliber and great to work with.

There’s also just quirks to the job. For instance, if it’s a large bank, basically no one knows what’s going at any given time. This becomes your problem. There’s also a lot of red tape and very little accountability, so when something goes wrong, everyone points the finger. But you don’t bill your time, so… that’s nice.

In short:

F

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