Description
Resasons Why Staying at Least 5 Years in a Law Firm Will Make You Marketable
[00:00:00] I'm in big law, third year, and slowly but surely prepping to leave. However, I want to prepare myself and see how attractive I am right now, as well as what the interview process will be like.
I'm looking at several government agencies, mainly SEC, and in-house positions at several large companies. However, I think it's a bit too early for me to leave. And, I think I have about 1.5 to two years of big law in me. in order to develop a good nest egg and pay off all my student loans.
My thought is that if I somehow get to the office stage and renege. Will it be in bad form? I obviously won't go like "Psych! Just a practice run!" and more indicate that my firm has indicated they really want me to stay, threw some bonuses my way, but just want to consider if there are any other risks? Whereas my entire idea of idea of testing the water, bananas, anyway?
It was pretty funny it used to be very common for attorneys like in New York and stuff during the winter to go interview with a lot of big firms in LA and then not take the offers just because they want to take a trip someplace warm.
It's pretty funny. But this is, a long time ago, 20 years ago, but I don't know if it's still going on. I don't pick it up, but I haven't seen it happen a long time, but the point is that really in terms of your work in a [00:01:00] big law firm, and everyone should understand this.
If you've been at your current firm for three years I would recommend staying there, especially if you can at least five, even though you don't realize it, it does take about five years to learn everything. And, you may not seem like you're learning, but you are learning just from your interactions and things that may not.
It does take about five years to become an expert in what you're doing. The biggest companies, if you want to go in-house, typically want to say it's good for their stockholders. It's good for their board. That the general counsel is a former partner at this firm and not an associate at this firm.
If you ever have the ability to make even income partner to the firm, you're much better off doing that before you leave to go in-house. That's just a word of advice for everyone. Also, the SEC is, I wouldn't say that that necessarily applies there, but the longer you're in a law firm, often the more marketable you become in-house and so forth later on. Because, it shows your ability to stick with something for a long period of time.
It shows you have the skills to operate in that environment at a [00:02:00] higher level. And, there's a more senior level. It shows your commitment and everything. So, I would recommend being careful in that is reneging. If you do renege, it's going to be difficult for you to get a job with those same agencies and in-house again, but if they are places where you really do see a future, then you should be careful then you may want to do it.
I would say just as just one piece of caution to everyone on the call now, I haven't seen this so much with government positions but I have seen it with lots and lots of in-house positions. What typically happens when people go in-house, it's a much different job than working in a law firm.
A lot of it is political. In-house companies will, often switch over the whole in-house department when a new CEO comes in. You can be laid off and things start down. It's just so the typical resume that I see as someone that goes in-house, after a few years in a big firm typically, they're moving firms every couple of years moving companies and often there's employment breaks.
They're working in different industries. They may be, [00:03:00] and that's not necessarily to say that it's a bad thing if they're able to land on their feet, but a lot of times too, they're bouncing all over the country. It can be very difficult to hold on to in-house jobs. And, the rules that I teach about law firms are much different in-house.
You just need to be careful about that. If it was me, I would probably try to stay at least five years. That's a lot better. You'll get more of a skill set. And also, the longer you're in a law firm, the more understanding you're gonna have about the types of places that you can work.
