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I am newly in-house at a large pubco from 8+ years of biglaw. The hardest thing for me so far has been going from being a revenue generator to an expense item. At my firm, I either had already had the authority or easily received the approval for any spending initiative because it ostensibly would eventually increase the bottom line. In house, every one of my spending initiatives generally needs to show cost reduction for the legal dept and is a battle to get approved.
Do you have a business development function as part of your role?
I’m 7 months in to the transition from private transactional practice at a 100 lawyer firm to in-house at a very large company somewhere around f700.
I will say that, aside from all of the obvious stuff, the biggest difference is how closely I work with my internal clients. I mean, when in private practice, the vast majority of my work was with one large client whose in-house person was my former associate and we worked extraordinarily well together on countless deals. And it was a very close and personal working relationship. That relationship pales in comparison to my relationship with my in-house clients. Even in the pandemic, I talk to these folks several times a day (often5-10 times, sometimes even more) every single day. Even the smallest question or issue might prompt one of us to hit speed dial to call another.
Far more intimate, for lack of a better word, relationships than I had even with my former associate with whom I worked on deals for years at a time straight
Makes sense. Appreciate the insight.