Supposedly I join a public or a private bank at the start of my career is a shift to another sector feasible some time down the line for an in-house role and what difficulties can arise? Thanks
your sector is very important if you are considering an in-house role. If you start at oil and gas, you are stuck in oil and gas. Similarly, if you start in banks/NBFCs, your whole life would involve staying in the finance line with a specific emphasis on lender (project) finance. The point I'm trying to make is that choose your sector very carefully because there's very less possibility to completely switch sectors from a hiring POV.
Id have to respectfully disagree with the comment above. If you’re handling commercial matters, your skills are transferable across various industries. I’ve been in three completely different in-house roles in terms of sectors. That said, there are certain limitations. For example if you’ve never done regulatory work, it’s unlikely that a fintech company or bank will hire you because the industry is comparatively more regulated than other sectors. Also, switching between industries isn’t great from a long term career POV. I tried a variety of roles early on but I’ve now stuck to one industry and will consciously look to stick to it going forward. As a younger attorney, a change in industries is hardly a risk- explore while you can. You get slotted in later and then it becomes difficult and like I mentioned, also not advisable from a career progression perspective.
Getting an in-house job abroad is harder than getting a job at a firm abroad. Because even the native lawyers are gunning for those roles. The only times I’ve seen a foreign lawyer successfully join a role in-house abroad is when they’ve had considerable work experience with that company in India (and therefore built goodwill). And these cases are rare, because you’re a cost Center to begin with and then to keep you around the company has to sponsor an H1B (assuming we’re talking about the US) - so they really really have to want you.
As someone who has gone in-house at a senior level in a fintech, I would be happy to hire a talent trained in the banking industry. The only problem is that the law firm system trains you in many other areas- negotiating skills, formatting and hygiene, and just general people skills are sharpened significantly better in a good law firm practice.
I do think you’ll have a good way to enter the B&F team if you go in house and actually work on key matters with the GC, but you are stuck in the industry.
I do think you’ll have a good way to enter the B&F team if you go in house and actually work on key matters with the GC, but you are stuck in the industry.