If you look at it quantitatively, most private sector jobs have the same old problems.....better pay, abhorrent working hours, less work life balance, tax etc Also, generally, better the pay, higher the hours, i guess
Absolutely correct. No high paying PE job is going to take an attorney into the fold when they can pick up a McKinsey or Bain chap for the same price. The segue from law to PE is nigh near impossible to begin with, and to top it off you'll have to forego 2 years of income as well pay a bomb to get that MBA only to end up in marketing or something.
quote Roles in marketing or product management are other post-MBA top picks (assuming you have an interest + are able to gain relevant experience during MBA through internships and projects).[/quote]
Can someone please expand on this? What exactly will this job entail? What would my average day look like and what about growth aspects?
This is incorrect. No PE shop will hire a lawyer MBA who doesn’t have prior consulting/I-banking experience. And that’ll be because of the consulting/I-banking experience. My advice to lawyers who want to move to PE directly after an MBA is that the probability of that happening is precisely zero. And an MBA won’t teach you any modelling skills worth the name. Case in point - post MBA associates at I-banks need to work really really hard to match up to the non-MBA analysts who they are supposed to “supervise”. Don’t follow this advice. The poster has no idea what he/she is talking about.
And PE can be really boring. Imagine a deal where everything you do is like a DD (albeit on the financial side).
"If you are leaving firm for an MBA because of work pressure, trust me you will regret it badly. If you have to work 12 hours a day in your firm job. You will have to work 15 hours a day in your Post-MBA job"
What jobs are being talked about here? Consulting?
How about moving to marketing/ banking/ product development roles.
The only post-law pathway worth it (if you want to work in high-paying corporate environments) is PE. Consulting is the same schtick as corp law, but everyone (clients) has an opinion, unlike in law where they at least shut up after a while, while the deadlines are equally bad. But if you're in MBB then at least the travel is cool, beats being stuck in Parel 24x7. IB can be highly technical (the high paying stuff like derivatives trading, rates etc) where most lawyer-MBAs will get outplayed by quant guys. PE on the other hand is the highest paying, you need some big-picture thinking (which if you are the MBA type you will have), critical analysis (which a good law school would have taught you), and some data/quant project skills (which a top MBA would have taught you). But of course, Indian offices of top global PE firms take people from IIM-ABC mostly (sometimes for HK/Singapore). If you want to get on a career track gig at GA/KKR/Blackstone/Carlyle in London/NY, a top global MBA like HBS/GSB/Wharton/Booth etc will be needed. If you can make it to one of them, go ahead.
Why MBA after a Tier 1 Firm job? - I assume that you are thinking about work pressure & related matters.
Like, you won't make as much as money you made in a T1 law firm. (there are a few exceptions)
If you are leaving firm for an MBA because of work pressure, trust me you will regret it badly. If you have to work 12 hours a day in your firm job. You will have to work 15 hours a day in your Post-MBA job.
Again, since you are a 4PQE, if you stay for an another 4 more years, your work pressure will reduce substantially and you can even leave the office early some days - you will have to work for a decade till you reach that position in your post - MBA job.
If you are stressed out at a firm - move in-house (again, depends on the team) or I guess you can still attempt PCSJ.
On that last point - consulting travel is not fun at all. My brother works in consulting and their travel is insane with early morning and late night flights, little to no time to sightsee, no time to recover from jetlag and working throughout the trip including on the flight.
If you do a simple search on linkedin, you'll see most Indian lawyers who have opted for MBA have ended up in consulting. A good idea could be to get a pre-MBA internship, to better understand the product/ marketing role
If you are aiming for a tier-1 MBA in India or outside, then the obvious high paying career options are in finance and consulting. As pointed out in other comments, these roles offer similar work environment, but higher pay, and a lot of travel. However, MBA can open up other opportunities too, but these will likely require letting go of your law background. I have listed some options below, but difficult to comment what would be a better fit as you haven't mentioned your current practice area and if you're willing to move away from it.
(i) Roles in marketing or product management are other post-MBA top picks (assuming you have an interest + are able to gain relevant experience during MBA through internships and projects).
(ii) Apart from MBA, consider experimenting with in-house work. Growth stage companies in new age sectors are exciting for lawyers as they operate in regulatory grey areas. They are also willing to pay tier-1 firm level (or more) salaries to the right talent, and have proactive involvement of legal teams in day-to-day operations. Write compelling cold emails to the founders/ legal heads, and chances of getting a response are higher than (iii) below.
(iii) Going in-house with companies in traditional markets (such as real estate, banking, heavy industries) is another option, but the pay will be lesser compared to (ii), and the work is likely to be laidback.
(iv) Pursuing a career in policy. If you work in regulatory/ litigation practice then can move in-house in policy teams (especially with companies in (ii)), or work with think tanks.
If you are looking at MBA only as a move away from law, i'd suggest you think through the long-term goal before diving into the degree. Be very sure of what you want out of the MBA so that you opt for the right electives, clubs, internships, exchange, and alumni networks. Going blind into the course will disable you from getting most out of it, and will pretty much leave you exactly where you started (except with a piece of paper as a degree).
Hi, bringing this thread up again. Can we have more advice on what options are available to one after doing an MBA? Considering I have experience of working at a law firm for almost 2 years now and I cannot do law firms anymore. Is life any different after an MBA?
If you choose to take up a consulting role that is.
I took up SAMCo after college because it was the highest paying thing available to me. I promise, i won't make the same mistake. i have suffered enough.
Law firm guys will mostly get consulting roles. Which doesn't change anything for good. Same bad work life balance and same working weekends. To worsen things, your life will spend more on PPT and excel sheets. The only positive (for some) is you may get to travel a lot rather than sitting in your rathole cabin in a law firm.
I'm actually planning on giving my GMAT in a week. I have 4 years of EXP by the time I apply.
Pros - they wont call you to do the paper work anymore. Cons - If you join consulting (Bain, McKinsey, Boston) after an MBA - then you never should have never left a tier one law firm job to begin with.
Also, generally, better the pay, higher the hours, i guess
Can someone please expand on this? What exactly will this job entail? What would my average day look like and what about growth aspects?
Thank you!!
And PE can be really boring. Imagine a deal where everything you do is like a DD (albeit on the financial side).
What jobs are being talked about here? Consulting?
How about moving to marketing/ banking/ product development roles.
PE on the other hand is the highest paying, you need some big-picture thinking (which if you are the MBA type you will have), critical analysis (which a good law school would have taught you), and some data/quant project skills (which a top MBA would have taught you). But of course, Indian offices of top global PE firms take people from IIM-ABC mostly (sometimes for HK/Singapore). If you want to get on a career track gig at GA/KKR/Blackstone/Carlyle in London/NY, a top global MBA like HBS/GSB/Wharton/Booth etc will be needed. If you can make it to one of them, go ahead.
Like, you won't make as much as money you made in a T1 law firm. (there are a few exceptions)
If you are leaving firm for an MBA because of work pressure, trust me you will regret it badly. If you have to work 12 hours a day in your firm job. You will have to work 15 hours a day in your Post-MBA job.
Again, since you are a 4PQE, if you stay for an another 4 more years, your work pressure will reduce substantially and you can even leave the office early some days - you will have to work for a decade till you reach that position in your post - MBA job.
If you are stressed out at a firm - move in-house (again, depends on the team) or I guess you can still attempt PCSJ.
(i) Roles in marketing or product management are other post-MBA top picks (assuming you have an interest + are able to gain relevant experience during MBA through internships and projects).
(ii) Apart from MBA, consider experimenting with in-house work. Growth stage companies in new age sectors are exciting for lawyers as they operate in regulatory grey areas. They are also willing to pay tier-1 firm level (or more) salaries to the right talent, and have proactive involvement of legal teams in day-to-day operations. Write compelling cold emails to the founders/ legal heads, and chances of getting a response are higher than (iii) below.
(iii) Going in-house with companies in traditional markets (such as real estate, banking, heavy industries) is another option, but the pay will be lesser compared to (ii), and the work is likely to be laidback.
(iv) Pursuing a career in policy. If you work in regulatory/ litigation practice then can move in-house in policy teams (especially with companies in (ii)), or work with think tanks.
If you are looking at MBA only as a move away from law, i'd suggest you think through the long-term goal before diving into the degree. Be very sure of what you want out of the MBA so that you opt for the right electives, clubs, internships, exchange, and alumni networks. Going blind into the course will disable you from getting most out of it, and will pretty much leave you exactly where you started (except with a piece of paper as a degree).
Considering I have experience of working at a law firm for almost 2 years now and I cannot do law firms anymore. Is life any different after an MBA?
Any more suggestions would be extremely helpful!
I took up SAMCo after college because it was the highest paying thing available to me. I promise, i won't make the same mistake. i have suffered enough.
I'm actually planning on giving my GMAT in a week. I have 4 years of EXP by the time I apply.
Pros - they wont call you to do the paper work anymore.
Cons - If you join consulting (Bain, McKinsey, Boston) after an MBA - then you never should have never left a tier one law firm job to begin with.