I am working in-house (legal department at a well known investment bank), earning decent money. Definitely not as much as my T1/T2 Law Firm Collogues. I am very much aware of the kind of life peeps at law firms suffer. However, I still have massive FOMO from time to time. I feel like I am missing out on some divine law firm experience while also being aware of the ground realities.
May be the fact that I am earning 50% of what I could earn if I were working as an associate in a law firm is haunting me and perhaps aiding my FOMO or may be I feel like I could do so much more and would love to be involved in monumental deals of the country.
I am here to seek your advise- am I being childish here or is this feeling temporary and fade away with time?
Thanks in advance to everyone who may call me dumb in 1000 different languages, but this has been bothering me for quite some time and I could'nt find a better place other than LI to ventilate my thoughts.
Yes, it's not "few" extra bucks, but still not worth giving up your life and peace of mind. I'm an in-house counsel now and also realise multiple times that I could be earning double the salary at a law firm, but will still not go back to that life!
It depends role to role. As far as I am aware, IBs would hire for a specific role function, hence having 1-2 years experience over corporate finance/general corporate should help you land such a role.
IBs also hire for their in-house legal team, for that prior experience in a bank would be great but I have also seen them rope in people from law firms.
Do know that I'm not the most qualified to answer your question and my answer is based on my general observation.
To answer your question, being absolutely childish. Whether it fades away with time is up to you.
There's nothing wrong with wanting to do better (including being involved in "monumental deals") but the headlines and work exp. definitely come at a cost:
Health; The hours in a "T1" office are going to have an adverse impact on your health. The stress that comes with the "monumental deals" will compound the adverse effect of the hours. The money you see your T1 friends make will start going towards medical expenses more and more, as you age. I'm only speaking of physical health here. Mental health is subjective since different people respond to things differently but do remember that the depression and mental fatigue runs high in those offices.
Personal relations; spending 17 hours in office doesn't really help build personal relations. In fact, I've noticed that many T1 lawyers are quite jaded even if they may appear (albeit superficially) to be rather jovial and people. The availability of time also helps you to be a better human, understand yourself and be a better person - this will help you be a better person. More T1 lawyers than I know are hiding from their shit by spending all their time in office/working.
Money; truth be told, after a point, the money doesn't feel enough. Which is quite astounding considering you'll be one of the best paid individuals in your age bracket in the country. But what the T1 life asks of you, it doesn't compensate for. It's significant but just enough that you can get used to the monthly deposit and live a comfortable and indulgent life. The chances of building generational wealth are rather low.
I do this job only because some people in my family made certain financial decisions which had the negative effects that they did. I'd have left long back had I been in a position to live peacefully with a lot less money coming in.
I think my FOMO is also stemming from the fact that working in law firms is considered to be the most fruitful utilization of one's law degree. If you're not in a T1- you're good for nothing- which is what we have heard all through out our law school.
And of course the narrative of in-house counsels being equated with lazy retards who leave work at 5 definitely does not help my case. Which, just FYI is completely false.
Thank you for your perspective and I hope you are able to make it through.
If you worked at a law firm then you'd have FOMO about missing out on life. Seeing your buds on insta stories just hanging out at 7 in the evening, travelling, chilling while you are doing DD at 11PM....
"Bhai kya kar Raha hai tu..matlab ky khoon pite vite ho".. jokes aside. I switched from reliance to tier-2 because of this very fact, and I regretted my decision so much that I resigned within 4 months. Deals vgara sab thik hai..2 mahine mein sab samjh agya ky Krna hai. 4 saal k experience phle se tha mjko. But to be honest I don't think that working in a law firm is at all a good bargain considering that you have stable job. Gradually Sikh jaogey, law firm jkr health issues aur insecurities badegi..baki each to its own. All the best buddy.
Since quality of work in MNC's are also very pretty good, I personally did not find any such glittery thing about working in law firm. I handled merger and acquisition while I was in the company, so can't say much ki law firm vale kch out the world kr rahe hai. Baki sabka apna2 hisab hai..some people like glorifying long working hours and etc. I have different priorities in 'life'.
I am working in-house (legal department at a well known investment bank), earning decent money. Definitely not as much as my T1/T2 Law Firm Collogues. I am very much aware of the kind of life peeps at law firms suffer. However, I still have massive FOMO from time to time. I feel like I am missing out on some divine law firm experience while also being aware of the ground realities.
May be the fact that I am earning 50% of what I could earn if I were working as an associate in a law firm is haunting me and perhaps aiding my FOMO or may be I feel like I could do so much more and would love to be involved in monumental deals of the country.
I am here to seek your advise- am I being childish here or is this feeling temporary and fade away with time?
Thanks in advance to everyone who may call me dumb in 1000 different languages, but this has been bothering me for quite some time and I could'nt find a better place other than LI to ventilate my thoughts.
But I get your point. Peace and tranquility are important aspects and I 100% stan a balanced life.
Say, if an SA1 is earning 30 LPA, you'd be earning 15LPA.
They are quite responsive if they find you to be a good fit.
IBs also hire for their in-house legal team, for that prior experience in a bank would be great but I have also seen them rope in people from law firms.
Do know that I'm not the most qualified to answer your question and my answer is based on my general observation.
I wish you all the best!
There's nothing wrong with wanting to do better (including being involved in "monumental deals") but the headlines and work exp. definitely come at a cost:
Health; The hours in a "T1" office are going to have an adverse impact on your health. The stress that comes with the "monumental deals" will compound the adverse effect of the hours. The money you see your T1 friends make will start going towards medical expenses more and more, as you age. I'm only speaking of physical health here. Mental health is subjective since different people respond to things differently but do remember that the depression and mental fatigue runs high in those offices.
Personal relations; spending 17 hours in office doesn't really help build personal relations. In fact, I've noticed that many T1 lawyers are quite jaded even if they may appear (albeit superficially) to be rather jovial and people. The availability of time also helps you to be a better human, understand yourself and be a better person - this will help you be a better person. More T1 lawyers than I know are hiding from their shit by spending all their time in office/working.
Money; truth be told, after a point, the money doesn't feel enough. Which is quite astounding considering you'll be one of the best paid individuals in your age bracket in the country. But what the T1 life asks of you, it doesn't compensate for. It's significant but just enough that you can get used to the monthly deposit and live a comfortable and indulgent life. The chances of building generational wealth are rather low.
I do this job only because some people in my family made certain financial decisions which had the negative effects that they did. I'd have left long back had I been in a position to live peacefully with a lot less money coming in.
And of course the narrative of in-house counsels being equated with lazy retards who leave work at 5 definitely does not help my case. Which, just FYI is completely false.
Thank you for your perspective and I hope you are able to make it through.
Let outsiders think we are living the life while we beat our health to pulp.
If law firm partners and in house counsels could provide their two cents on this.
I personally know people who feel the same way, the grass is always greener on the other side. Remember that.
Apart from the long hours, what do you think about the work?