Would love thoughts on exit options in this scenario: I am considering accepting a GC role at a smaller private company (think EV of $350mm). I know I’m not qualified (coming from a firm) and it may be a nightmare, but there are other factors (equity) re why i might say yes.

My question is: if this doesn’t work out, what do my exit options look like for other in-house positions? Would I struggle, e.g., getting a “senior counsel” role at a F500 (I’ve received offers for such a role previously)?

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First, why do you think you are not qualified? The company thinks you are qualified. Second, you have equal or better exit opportunities than if you stay at a firm. It is a different skill at in house. The sooner you build that skill set, the more marketable you are in house.

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Thank you! I think I’ll be fine, just wish I had some in-house experience prior to make the jump to GC. But always want to be mindful of exits - your post is helpful - thanks again!

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You can lateral to GC of another company, or take a step down into a deputy or assistant GC role in a larger company with some managerial responsibilities. You're probably above individual contributor roles for the most part.

The number of job opportunities does narrow when you are in a top role, so you have to use/build your network to find other opportunities. For example, I'm part of L Suite and other in-house counsel organizations, and job opportunities are passed around in those circles. Also, helps to build/maintain relationships with law firm partners because they also are aware of openings at their clients.

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Two cents having worked at a mature F500 and a startup, both can be chaotic in their own right but you are less layoff prone in the F500, assuming the business is good.

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