What is Executive Compensation/Benefits and why do you practice it or Why do lawyers choose that path instead of like M&A etc where you are leading the deals?

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It’s generally lay-off resistant. But if you do it just because of that, you will probably be bad at the job and will get laid off anyway.

A good ECEB attorney knows how to read the tax code and regs to advise on equity awards, 280G and 409A, knows how to prepare the CD&A of a proxy, can run the comp/benefits/employment side of a deal (sometimes employment helps if it’s really employment heavy). This includes preparing option cancellation agreements, running the 280G analysis, drafting employment contracts/offer letters, advising on applicable provisions in the RCA.

I like it more than M&A/corporate because it’s more technical. Also, I’m a terrible project manager.

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This. It’s technical and I’ve heard the personalities in this field aren’t great. Have a couple of friends who quit for something completely different in their first three years. They basically took the first options outside of EBEC.

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Prior to 2020, I know quite a few people who were forcible assigned to this group. Not a ton go into law school knowing anything about this practice and then start at a firm as a generalist/unassigned and can passively fall into this. When its busy, it's busy. Others also like being specialists...just like tax. They know their one area down pat and can handle anything that comes up, so there is something comfortable about this for people. In M&A, there are so many different moving parts, you go an inch deep in everything but I don't feel like you ever really know enough to be all that useful in one subarea.

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It’s crazy to me that people combine this field. EB is entirely different than EC and most people specialize in one or the other. But it’s almost unheard of to specialize in both (maybe at smaller firms but not biglaw). To do M&A work in these fields you need to know a bit about each side but certainly not a specialist level. But to answer the actual question, I do think it’s a field most people don’t know about but just get put into early on in their career. I have actively tried to recruit law school students for the WLB, ability to talk directly and have in depth interaction with clients (as most clients don’t have this type of expertise in-house) and be able to participate in professional organizations and engage directly with regulators. You just don’t get that in general Corp or M&A. But most people think it’s going to be boring. It’s 50% research and 50% client engagement. It’s super stable but yeah you’re definitely not going to get the flashy super extroverted personalities in partners and colleagues. If you’re an introvert or even just not super extroverted, it’s a really good practice area.

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A1, why did u hate the compliance work with gov entities if it’s 9-5?

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