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.
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.
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.
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.
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
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.