Law Firm Layoff: In-House Job vs LLM/PhD vs Continuing Job Search?

Description

• Corporate transactional attorneys may benefit from getting an MBA
• Law firms value business experience, especially in corporate and transactional law
• Law firms prefer practical experience over academic background
• LLMs are suitable for certain practice areas like tax, healthcare, and employee benefits
• It's difficult to return to a law firm after going in-house
• Consider working in smaller law firms in a larger market or another law firm in a smaller market if laid off

Transcript

Transcript:

Another thing that can be a good idea, believe it or not, if you're a corporate transactional attorney can be getting an MBA. MBAs actually valued by law firms, they like people that go and get business experience especially corporate and transactional people. They typically go to business school and then are always welcome back to.

Law firms later on law firms do not like academics. So if you start looking academic, it's just a different style of thought. It's not as crisp and direct and it's more theoretical. So people aren't that enthusiastic about. LLMs are okay for certain practice areas like tax and even healthcare and employee benefits and some other things.

The final thing that I would recommend, if you do wanna stay in a law firm you definitely wanna be in a law firm and not go in house people. Go in-house all the time. It's extremely difficult to go back to a law firm after you've gone in-house. The reason is just because once you go in-house, it's a different set of demands and there's a whole bunch of different reasons for it.

So I definitely would recommend if you can stay in a law firm just because the economy's bad and you're laid off. You can work in smaller law firms in a larger market, or you can work in another law firm in a smaller market. That's all, it's not impossible to find a job.