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Coach
There may be an argument to do securities because at pubcos they have more involvement with the execs
I do securities/governance and agree with above. I have meetings with them (disclosure committee/board meeting prep) and are heavily involved in exec comp. Also their own stock transactions, estate planning etc.
Fund formation in house positions generally pay better and involve “high level, interesting” work. Also funds associates are generally less miserable than M&A associates (based on the latest Chambers surveys I saw). Suspect people will say that that comes at the expense of work life balance on the in-house side of things, but personally have seen examples of people getting paid well and working 9-5.
That’s because STB M&A associates have been slower in the past year.
I for one have never seen a happy funds lawyer, in house or otherwise. Although I wouldn't say M&A is a consistent 9-5 in house either. But I'd think there's more of the latter than former.
Not to say that I think M&A associates are any happier - but I think for in house, absolutely