In house role at blackstone? Would you?
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Current client or recruited? I’d go through the process at minimum. A few considerations:
1. Be prepared not to go back to big law (can happen but becomes difficult)
2. Hours will be less (initially) than BL, but not much less.
3. Be prepared to go from a “inch deep and mile wide” mentality in big law to “a mile wide and inch deep” in house
4. Carefully read the equity incentives. Often they have significant vesting periods that handcuff you to the fund.
5. I’d rather be in-house at BX (assuming it’s not compliance) than a 4th year
I can’t speak to exactly what a compliance role at blackstone looks like, but ideally, you’d prefer to be part of a deal team following the transactions, as opposed to a back office compliance role that has very little contact with the deal team.
Again, I don’t know how Blackstone’s legal team is structured, but I’d recommend fleshing out the role in the interview process. The further you are away from the deal flow, the less substantive work you’ll receive, and consequently, the less “in tune” (for lack of a better expression) you will be with the market, which makes you less desirable should you choose to accept the role and later move on.
That’s just my opinion based on my experience. Talk to the commenter who seconded there and talk to as many people in the legal dept as you can while interviewing.
Re: Associate 3 - secondments are temporary by nature and used to build relationships or solidify existing ones. Typically occurs when underutilized associates are “given” to clients; the client gets free legal work; the firm benefits from goodwill.
4th year and would be prob 185 base + bonus + equity incentives they say total around 285-340. Don’t have an offer yet but wondering if it’s worth going through the process depending on the reviews
How many YOE do you have? Comp offer?
What’s your background? PE, fund formation, fund finance?
Cap markets
Yeah
I think Blackstone is a spectrum. If you are looking for a 9-6 job you may be in for a surprise. Some compliance roles are pretty chill from what Ive heard but fundraising and deal execution (assume capm falls into that bucket) aren’t necessarily. I don’t think they work biglaw hours though and the stress is just different (dealing with a bunch of internal stakeholders). I get the feeling making MD on the legal side is very difficult. Many people use BX as a stepping stone.
Generally agree. Who you work for will determine your WLB. At shops as big as BX, you’re just another cog in the wheel. Your main job, initially, is to follow email traffic, provide guidance to mgmt and act as a translator between the business team and outside counsel. If your business team is brutal (not uncommon), they’ll look at you like an arsonist masquerading as a firefighter.
… hard to turn down BX though
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OP - I was on secondment there, feel free to DM.
Not for me. Those megafunds work you 80% as much for significantly less pay and now you’re a cost center.
Ehhhh unless you're in a strictly compliance role, being legal doesn't automatically make you a cost center. These days megafunds are building out more robust legal departments that are meant to be strategic partners to the deal teams. They're not cost centers in the way that IT or HR are.
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I would. They seem to work lots and follow up a lot so not sure how much of an hours or intensity improvement but they seem pretty universally smart and among my most polite/nice clients.
BX is the largest PE fund in the US with over $1T AUM. Of course they’re smart, intense and highly demanding