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Hear me out, take the tax job and part time/online LLM?
Came here to say this. I did my LLM online part time over the course of several years through NYU’s exec program while working as tax counsel at a Fortune 250 company that paid my tuition.
As a tax attorney with 15 years experience I can tell you your experience is way more important than the LLM
I’d take the job and move to big law later if you want to. Although I’d be sure they understand you do not have tax experience and I’d try to get an understanding of how much development/training they are willing to offer.
Tax experience > LLM. Take the job and forget about the LLM.
take tax job. coming from a llm person
Definitely take the job. Can always do a LLM in a few years if needed for whatever reason.
Edit: if it’s over $200k, it’s pretty close to market. Definitely not something to worry about the difference.
Take the job, easy way to see if tax is really for you. If you're accepted into NYU, see if they have a deferral program where you can kick admission a year down the road to see if ya really like tax and / or do a part time program with NYU. This way you get some experience to see if you really like it before committing to an expensive LLM first
I switched practice areas from litigation into a more tax-heavy practice without much prior tax experience. I had other specialized experience that was pertinent to the role, and just tried to make the expectations re: learning curve on tax stuff very clear with the partners during the offer process. Paying for an LLM wasn’t brought up, but they provided some general tax treatises and industry specific materials I could read in free time while my caseload ramped up, with a possibility of discussing a course of some sort later if needed. Feel free to message me if you want to discuss further.
I would not treat tax as a hobby, it’s an area where you probably should not dabble. It’s kind of an in or out imo. Could you ask the job if they’d pay for your LLM over a year or two with online classes? It sounds like if they’re paying that much, there’s at least a reasonable chance they would say yes (assuming the firm would value you having an LLM)
My use of “hobby” was an unsuccessful attempt at a joke. As in, “don’t quit your day job kid.”
But thanks for the advice!
If you go the job route, it’s going to be an incredibly steep learning curve. I switched from litigation to tax by getting an LLM. I really value what I learned. Could you explain to the firm you have a job with and see if they would let you defer for a year while you go do your LLM?
To all those recommending that the new firm pay for the LLM - I’d just like to add that this is not as easy as it sounds. Many biglaw firms don’t want to make this investment, especially not in someone that hasn’t even started working for them yet. I have a tax LLm (paid for myself) and I got it in order to switch from Corporate to Tax. I’ve now worked in tax in two different biglaw firms and neither pay for associates to do tax LLMs. Many biglaw tax partners do not have a tax LLM and don’t really value it. The ones that do have it tend to value it more, but that doesn’t necessarily mean the team as a whole has a policy of paying for it.
Just FYI I went to big law w no LLM but I had 4 years in house tax experience
Context: I took a lot of tax classes in law school, loved them and did very well. But ended up doing 3 years of non-tax clerkships and now a little over 2 years of commercial litigation at a big law firm. For the most part, I hate my current firm job.
I applied to NYU in September, but the admissions decision won’t be made for another few months (as I understand it). The law professor who wrote a recommendation for me introduced me to a law firm looking for a tax associate, and long story short they gave me an offer.
Without going into too many details, the new job pays well (over $200k) but is not “market.” I am very worried about being completely clueless in a big career pivot without any kind of boost in education. And also worried that the career shift in general is foolish.
Lastly, assume I could go to NYU without taking out any debt. Thanks for any advice you may offer! Sorry for the novel.
Thanks for all who have responded so far. Everything you all said makes sense, and I really appreciate it!
Does anyone think it is too foolish to switch from litigation to tax at this point in my career? I’m sure it has been done before but the leap frightening.
Do both. A tax litigator makes a lot of money
Not sure what career point you're at....I mean, I'd argue if you're less than a 3 year attorney, go ahead. No problem. It is also dependent upon are you trying to. work in transactional or tax litigation....You might get credit and have am easier transition for litigation to litigation.
Think you should make your new firm pay for the llm. Ask if they have a reimbursement program.
If you took relevant tax classes in law school… you should be fine. Like others have said, better to take the job now and see how it goes. You might be able to do a part time LLM depending on how your employer feels about that and worst case scenario you struggle and apply to NYU in a year and have a year of experience under your belt and crush your classes / have legit experience that makes you desirable to Big Law employers and sets you apart