Got yelled at by a Sr. Associate and a Partner over nothing, saw stressed out young men and women who aged beyond their years, spent no meaningful time with their significant others, a new father coming in to work the day after his baby was born, interns' opinions and previous drafts of documents were being passed off as something high quality.
I was very happy to leave soon as I looked at myself in the mirror and realized it wasn't the real me. That was years ago.
Never had a moment of regret; plenty of joyful days - made new friends and clients while being out of the office and in the world, took time for myself, worked healthy hours, said no to work that I didn't need/agree with, took risks and reaped rewards, built a practice that reflects my values. Money has increased every year and I haven't had to bear bullshit to be rich. People are magnetized to joy, and more readily trust a professional who loves what he is doing.
Time flies when you're having fun, and moves at snail's pace when you aren't, doesn't it?
F*** being rich and miserable. You have a degree that is invaluable. Go find out its worth, and yours.
Worked at a high end law firm, learnt a lot but felt like the lifestyle was unsustainable. When I got married, I realised that the choice I had to make was, spend meaninful time with my signficant other, or work at a law firm.
At the same time, I also wanted to work in the "best teams" with the "best partners" and on the "most challenging / high end transactions". So I decided to make a conscious choice and spend the next few years working hard, before moving on from the law firm world. I jumped to a "better" Tier 1 practice, worked on probably the biggest transaction in India then.
The amount of abuse, manipulation and general lack of empathy for life was stark and far worse than what I thought I was signing up for. I realised that the folks at the Tier 1 (barring a few exceptions in a few practices in a few cases) were not really killing it the way I had thought they were. They are also drafting the same things, making the same mistakes, and doing the same shit, but way overworked and way brainwashed into thinking that their lives were more meaninful than it was. I recall that my partner slept in a different room from their significant other, another partner was getting on in age and had no ongoing personal relationship outside of work (other than some fairly disturbing rumours with an associate) and a third partner with a new born at home was working till 2-4 AM everyday for the better part of the time I was there.
What I didn't see was any cutting edge work or guidance that helped me grow. The logic appeared to be, kill yourself for the firm, outlast your peers and you will get a fair bit of money. That's when I came to the conclusion that the choice wasn't no money or tons of money, but actually some money or tons of money.
Decided to move on and joined a smaller start-up firm - my life has significantly improved, my take home matches my peers (including in Tier 1 firms) and I don't have to deal with any of the politics. I have spent a substantial amount of time with my significant other and I still get to do the "big deals" I thought I had left behind. I'm likely a lucky person given where I've landed up, but you know what they say - fortune favours the brave.
I still fully understand why someone may want to remain at Big Law - but based on my experience, it's not the only way.
I left a Delhi tier 1 firm disputes practice and moved to high court litigation practice in a tier 2 city. I wasn't sure about the move so the plan was to try it out for some time and see how it goes. Its been more than seven years now and prefer this over Delhi. Very much.
Lessons from a litigation perspective:
(a) Initially, pay will probably be 10-15% of what you get at a tier 1 firm. Maybe lesser. That can be a bigger issue than one thinks. (b) Pay will increase every year. And one can save a lot on living expenses (compared to wherever you work). (c) Work will mostly be mundane but it will be better than what you did in the firm. I personally read more SCC in the first couple of months at the tier 2 city firm that the entirety of five years at a tier 1 firm. And no case notes, argument notes, list of dates, or notes of any kind! (d) One will get to appear and argue much much more. And if one does/ argue's well, judges start calling you by name. One gets to learn the art of adjourning cases in a senior's absence which takes some skill (there have been instances of tier 1 firm partners briefing senior advocates for adjournments). (e) Much better work life balance. Much more flexibility. Family is closer. (f) A lot less traveling. No more Noida/ Gurgaon - Delhi. No more planning to avoid traffic. (g) Disputes practice in a tier 1 firm is very different from actual litigation. A 100 million arbitration claim filed after many billable months cannot match the thrill of arguing admittedly not-so-complex cases every day.
I worked at Tier 1 law firm from 2014-2020 (a little over 6 years). From the beginning, I knew I joined for the quick money (more on that later) and not for the career progression. Joining a big law firm is a simple trade-off, you piggy-back off the firm's established reputation to do work that pays the firm a lot, and in exchange the firm gives you back a tiny fraction of what you earn for them. That tiny fraction can be a huge amount for most. You also trade the need to spend time sourcing clients with the work coming to you automatically albeit with the compulsion to spend all your time doing all the work that comes in.
I have always been clear that time is my most precious commodity. You can obtain almost infinite amounts of money, land, wealth, etc. but you cannot manufacture more time for yourself. Whatever time you have is (a) unknown to you; and (b) definitely finite. So what did I need to do to conserve my time and make maximum buck for the time spent? I got efficient. Very efficient. And I kept my efficiency to myself.
I was privileged to be better at writing and drafting than my peers and even my bosses. This was a great thing as far as MNC clients were concerned. Deliverables drafted by me impressed the firangs. I had clear, concise and very readable deliverables, which everyone loved. So I made a niche for myself for certain kinds of high value work, for which my team/peers were happy to let me take my time and come out with a good product. They learnt after the first year or two that my deliverables barely took any editing or revisions. So over a period of time I started being given work that (a) wasn't my team's core practice; and (b) were mostly MNC clients demanding well drafted deliverables. Means I had monopoly over a large part of my time.
Here's where my efficiency came in as a kicker. As I got better and better at my work (which was varied), I took less and less time to do it. However, I was still able to set my own timelines (within reasonable limits). Once people are used to having a deliverable turn around in 48 hours, I was free to do it in 24 hours and keep the rest of the time for myself. If they needed it faster, I took my pound of flesh the next time. I got promoted on time, I had very good appraisals.
To be clear, I did not cheat the law firm out of anything, the firm made over 500-600% more in revenue from my time than they paid me. They got what they wanted from me (I made a ton of money for them), and I bore no obligation to give them every moment of my time or even any more than I chose to.
I spent a lot of the saved time pursuing my interests, which were primarily on how to deploy the money I was making (and saving 90% of) to become financially independent. I spent a couple of years learning the ropes for investing in listed companies. I learnt my lessons in the market, paid my tuition fees, and eventually got good at it. By the end of 5 years, I had enough saved and invested to be pulling in 50k a month in passive income without lifting a finger. My investments have growth well, and I have a plan I execute for my personal finances. Now I have core investments and a little bit of capital set aside with which I do special situations investments. For example, I play low risk rights issues and buyback situations. 8-10 of these situations come every year, a retail investor can make a lakh or two per annum through these with the right risk management. If there is an opportunity out there in the listed space, I have the time and understanding to play it. Along with passive income, this creates sufficient cash flows to live decently.
I now do the above and freelance legal work from time to time. A couple of people now give me work regularly and I don't really make an effort to go out and look for more. If I do good work for them, eventually they refer me elsewhere. I am okay with the pace, I am not dependent on it for my well-being. I write, I sleep, I vegetate. The uncertainty of the future sometimes does create anxiety, but you have to trust in yourself and move forward.
One time when I fell really sick and couldn't go to work for about 12 days. Those 12 days were the most peaceful days I have had during my law firm days. No calls, no chasers, no anxiety attacks and lots of rest. After I went back to work I realised that work didn't stop because I was away on sick leave. It went on just fine without me. Made me wonder why my partner would make me work on every weekend, holiday and on my annual leaves. Was every deliverable really that urgent? No.
A couple of months went by. I was working on another deal with impossible deadlines. I started dreaming about how life was peaceful when I was sick for those 12 days. I was so exhausted that I started wishing for sickness just so that I could get uninterrupted rest. I started losing interest in life, in meeting friends, watching movies, listening to music or even going out with my better half. I only had negative thoughts. Money did not make me happy anymore. I had become quite miserable and sad. That's when I decided to leave my high paying Tier-1 law firm job and take a break. It was undoubtedly the best decision I took. After a few months, I joined a company as an in-house lawyer. The pay is slightly lesser but I am happier than ever.
I was very happy to leave soon as I looked at myself in the mirror and realized it wasn't the real me. That was years ago.
Never had a moment of regret; plenty of joyful days - made new friends and clients while being out of the office and in the world, took time for myself, worked healthy hours, said no to work that I didn't need/agree with, took risks and reaped rewards, built a practice that reflects my values. Money has increased every year and I haven't had to bear bullshit to be rich. People are magnetized to joy, and more readily trust a professional who loves what he is doing.
Time flies when you're having fun, and moves at snail's pace when you aren't, doesn't it?
F*** being rich and miserable. You have a degree that is invaluable. Go find out its worth, and yours.
Worked at a high end law firm, learnt a lot but felt like the lifestyle was unsustainable. When I got married, I realised that the choice I had to make was, spend meaninful time with my signficant other, or work at a law firm.
At the same time, I also wanted to work in the "best teams" with the "best partners" and on the "most challenging / high end transactions". So I decided to make a conscious choice and spend the next few years working hard, before moving on from the law firm world. I jumped to a "better" Tier 1 practice, worked on probably the biggest transaction in India then.
The amount of abuse, manipulation and general lack of empathy for life was stark and far worse than what I thought I was signing up for. I realised that the folks at the Tier 1 (barring a few exceptions in a few practices in a few cases) were not really killing it the way I had thought they were. They are also drafting the same things, making the same mistakes, and doing the same shit, but way overworked and way brainwashed into thinking that their lives were more meaninful than it was. I recall that my partner slept in a different room from their significant other, another partner was getting on in age and had no ongoing personal relationship outside of work (other than some fairly disturbing rumours with an associate) and a third partner with a new born at home was working till 2-4 AM everyday for the better part of the time I was there.
What I didn't see was any cutting edge work or guidance that helped me grow. The logic appeared to be, kill yourself for the firm, outlast your peers and you will get a fair bit of money. That's when I came to the conclusion that the choice wasn't no money or tons of money, but actually some money or tons of money.
Decided to move on and joined a smaller start-up firm - my life has significantly improved, my take home matches my peers (including in Tier 1 firms) and I don't have to deal with any of the politics. I have spent a substantial amount of time with my significant other and I still get to do the "big deals" I thought I had left behind. I'm likely a lucky person given where I've landed up, but you know what they say - fortune favours the brave.
I still fully understand why someone may want to remain at Big Law - but based on my experience, it's not the only way.
Lessons from a litigation perspective:
(a) Initially, pay will probably be 10-15% of what you get at a tier 1 firm. Maybe lesser. That can be a bigger issue than one thinks.
(b) Pay will increase every year. And one can save a lot on living expenses (compared to wherever you work).
(c) Work will mostly be mundane but it will be better than what you did in the firm. I personally read more SCC in the first couple of months at the tier 2 city firm that the entirety of five years at a tier 1 firm. And no case notes, argument notes, list of dates, or notes of any kind!
(d) One will get to appear and argue much much more. And if one does/ argue's well, judges start calling you by name. One gets to learn the art of adjourning cases in a senior's absence which takes some skill (there have been instances of tier 1 firm partners briefing senior advocates for adjournments).
(e) Much better work life balance. Much more flexibility. Family is closer.
(f) A lot less traveling. No more Noida/ Gurgaon - Delhi. No more planning to avoid traffic.
(g) Disputes practice in a tier 1 firm is very different from actual litigation. A 100 million arbitration claim filed after many billable months cannot match the thrill of arguing admittedly not-so-complex cases every day.
As sr. no. 4 says, firms are not the only way.
I worked at Tier 1 law firm from 2014-2020 (a little over 6 years). From the beginning, I knew I joined for the quick money (more on that later) and not for the career progression. Joining a big law firm is a simple trade-off, you piggy-back off the firm's established reputation to do work that pays the firm a lot, and in exchange the firm gives you back a tiny fraction of what you earn for them. That tiny fraction can be a huge amount for most. You also trade the need to spend time sourcing clients with the work coming to you automatically albeit with the compulsion to spend all your time doing all the work that comes in.
I have always been clear that time is my most precious commodity. You can obtain almost infinite amounts of money, land, wealth, etc. but you cannot manufacture more time for yourself. Whatever time you have is (a) unknown to you; and (b) definitely finite. So what did I need to do to conserve my time and make maximum buck for the time spent? I got efficient. Very efficient. And I kept my efficiency to myself.
I was privileged to be better at writing and drafting than my peers and even my bosses. This was a great thing as far as MNC clients were concerned. Deliverables drafted by me impressed the firangs. I had clear, concise and very readable deliverables, which everyone loved. So I made a niche for myself for certain kinds of high value work, for which my team/peers were happy to let me take my time and come out with a good product. They learnt after the first year or two that my deliverables barely took any editing or revisions. So over a period of time I started being given work that (a) wasn't my team's core practice; and (b) were mostly MNC clients demanding well drafted deliverables. Means I had monopoly over a large part of my time.
Here's where my efficiency came in as a kicker. As I got better and better at my work (which was varied), I took less and less time to do it. However, I was still able to set my own timelines (within reasonable limits). Once people are used to having a deliverable turn around in 48 hours, I was free to do it in 24 hours and keep the rest of the time for myself. If they needed it faster, I took my pound of flesh the next time. I got promoted on time, I had very good appraisals.
To be clear, I did not cheat the law firm out of anything, the firm made over 500-600% more in revenue from my time than they paid me. They got what they wanted from me (I made a ton of money for them), and I bore no obligation to give them every moment of my time or even any more than I chose to.
I spent a lot of the saved time pursuing my interests, which were primarily on how to deploy the money I was making (and saving 90% of) to become financially independent. I spent a couple of years learning the ropes for investing in listed companies. I learnt my lessons in the market, paid my tuition fees, and eventually got good at it. By the end of 5 years, I had enough saved and invested to be pulling in 50k a month in passive income without lifting a finger. My investments have growth well, and I have a plan I execute for my personal finances. Now I have core investments and a little bit of capital set aside with which I do special situations investments. For example, I play low risk rights issues and buyback situations. 8-10 of these situations come every year, a retail investor can make a lakh or two per annum through these with the right risk management. If there is an opportunity out there in the listed space, I have the time and understanding to play it. Along with passive income, this creates sufficient cash flows to live decently.
I now do the above and freelance legal work from time to time. A couple of people now give me work regularly and I don't really make an effort to go out and look for more. If I do good work for them, eventually they refer me elsewhere. I am okay with the pace, I am not dependent on it for my well-being. I write, I sleep, I vegetate. The uncertainty of the future sometimes does create anxiety, but you have to trust in yourself and move forward.
A couple of months went by. I was working on another deal with impossible deadlines. I started dreaming about how life was peaceful when I was sick for those 12 days. I was so exhausted that I started wishing for sickness just so that I could get uninterrupted rest. I started losing interest in life, in meeting friends, watching movies, listening to music or even going out with my better half. I only had negative thoughts. Money did not make me happy anymore. I had become quite miserable and sad. That's when I decided to leave my high paying Tier-1 law firm job and take a break. It was undoubtedly the best decision I took. After a few months, I joined a company as an in-house lawyer. The pay is slightly lesser but I am happier than ever.