I’m a third year associate in biglaw. Is going in house at a hedge fund company that pays comparable compensation and allows remote work a good or bad idea at this point in my career? Any advice would be much appreciated

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So I started in-house right out of law school and left for biglaw after a year and a half because I worried about career development and skills. I thought I was falling behind my peers and would be a worse lawyer overall.
I then spent two miserable years in biglaw working on mundane shit that really did nothing for the career I wanted. I ended up working on litigation matters when I had zero desire to do litigation and I didn’t find working on the matters to really help me spot risks in house that would prevent litigation—at least not on what I worked on. I got more varied advice and counsel experience that was helpful, but didn’t get to do much of that either, except for my former entity that became my client while I was at the firm (I did lots for them!).

I realized I was spinning my wheels and went back in house. I do a lot of CLE to stay current on legal issues I might not have as much exposure to with having less resources than I did at the firm and ask outside counsel to walk me through their process when we do hire them. You have to work a little harder to stay current but you have more time to do so.

Plus, if you want to be in house, go in house. You will learn and master the skill set necessary for that role which is invaluable to you. I’m a fan of bringing the tools you need and don’t see a reason to lug a sledgehammer around when a claw hammer is what the job calls for.

Good luck!

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I loved it. I had a very supportive general counsel who was super invested in my development. He gave me an immense amount of responsibility and personal guidance from when I started as an intern. We would sit down a few times a week and go over my matters, what research I did, what options were available, and how I made the decisions I did. He would then explain his rationale and resources I could use. He also brought me to executive functions and explained how to navigate organizational politics/how to spot them in legal requests. I found these skills benefited me greatly as a lawyer. It especially came in handy working for the firm. I made great connections among lawyers in my industry which helped me land back in house as quickly as I did. I don’t think I’d have an issue moving elsewhere either. I have an excellent network now; one that is even willing to offer guidance on general legal issues in our industry.

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Depends what you want out of your career. Are you wanting the partner track? Then stay at the firm. Personally, in house was the best decision for me. Better work/life balance, less client stress, good companies have good benefits

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Yeah I’ve found this common for in house life. There are times I work long hours, but it’s the exception, not the norm

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You will get very good at the things you need to know for that industry.

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If you want to be a GC at a hedge fund one day, then yes.

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If you want to develop it won’t happen in house at this stage.

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Ok. I’ll bite. Right.

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It would be better to wait until you’re a 5th year. You’ll command a higher compensation and you’ll be able to position yourself for more senior level positions within the in-house department or fund.

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How is comp (cash and non cash, including carry) and lifestyle as GC of fund compared to partner at a firm? Sorry to hijack thread.

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Good idea.

How did you operate with regard to making those decisions in relation to your GC—did you have the autonomy to advise, redline contracts, negotiate, sign & send letters on behalf of your client? Or did everything go under the GC’s license/in his name/with his approval for a period of time after you first came on board, even when you were licensed? I’m trying to navigate this situation with my GC, who wants everything to be under his license/subject to his approval, but it hamstrings me.

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