Hi. I am a corporate lawyer with 5-7 years of experience, with a tier-1 capital markets practice. I don't hate my job, love the money it brings, and can keep this up for a few years without any trouble. However, I don't see myself doing this beyond the next 2-3 years. Here are the reasons:
Top heavy practice area: The practice leaders (YA,PG, ML, BP) in this space are still young. Then you have the next set of 2-/25 partners who are responsible for BD and high-level supervision on deals. Everyone else is just a glorified PA. Keeping this in mind, there may not be a lot of scope to grow beyond a certain point.
Long hours, entitled clients: Investment bankers and issuer clients are growing increasingly demanding every passing year. There are no weekends or downtime anymore. 10-10, 6 days a week is simply not sustainable.
I want to gauge what else I can do out there. Like most capital markets lawyers - I am fairly average at law, but great at project execution and people management. Is there any sector out there that can pay for these skills? I would like to avoid costly degrees. New career need not be in the legal space. Any guidance folks?
Shift to a VC/PE firm like blackstone or an investment bank like goldman or just do an MBA in this field and get into one of those, this is assuming you like the subject matter
If you're referring to VC or PE in an invetstment (and non-legal) role, it's harder than you think. Most funds require prior IB or consulting experience with a top tier firm for entry level investment analyst roles.
If you're referring to an inhouse legal role with a fund, you have a good point unless it's one of the larger funds that structure their teams like law firms.
PE firms are lean and dont employ a lot of lawyers. Blackstone and Brookfield are the only big investment managers in India that have in house legal team.
Let's not normalize toxic work schedules by using them for humour. If your partner is making you work 7 days a week, 10 to 10, it's time you have a conversation with him about it.
Not related to the original post but, What will you advise someone who is planning to enter this practice area and still has time to make a smooth switch to other areas? Shall I stick to this because I like it or explore other areas because of the reasons cited by OP? I do actually enjoy what I do currently.
Please diversify. Get some M&A/ PE experience. Ask to be put on these deals and see if you like them. This will give you more mobility few years down the line.
Top heavy practice area: The practice leaders (YA,PG, ML, BP) in this space are still young. Then you have the next set of 2-/25 partners who are responsible for BD and high-level supervision on deals. Everyone else is just a glorified PA. Keeping this in mind, there may not be a lot of scope to grow beyond a certain point.
Long hours, entitled clients: Investment bankers and issuer clients are growing increasingly demanding every passing year. There are no weekends or downtime anymore. 10-10, 6 days a week is simply not sustainable.
I want to gauge what else I can do out there. Like most capital markets lawyers - I am fairly average at law, but great at project execution and people management. Is there any sector out there that can pay for these skills? I would like to avoid costly degrees. New career need not be in the legal space. Any guidance folks?
If you're referring to an inhouse legal role with a fund, you have a good point unless it's one of the larger funds that structure their teams like law firms.
When they IPO, you will be of added value.
- R
What will you advise someone who is planning to enter this practice area and still has time to make a smooth switch to other areas?
Shall I stick to this because I like it or explore other areas because of the reasons cited by OP?
I do actually enjoy what I do currently.