I chose law because I hated Maths and money didn't matter to me during school days. Now I want to earn as much as possible with a caveat that it should be legal. In LI as well as by other talks given by law firms in our T1 nlu, I got to know two things : firstly, on average only the earning of an hedge fund manager, PE fund manager, and investment banker etc is higher than that of a law firm partner; after an MBA. Secondly, most likely you as a lawyer won't get placed in such firms and end up in consulting because of no experience with maths and quant like an engineer. Is there anyone who has broken this ceiling? Any insights on the above 2 premises. I don't want to make it too much of a law v MBA debate. Just wanted to know whether such people exist and how they tackled limitation of quant/math .
Even if such people exist, they've only done law as a degree and have shifted to wealth management early on their career, mostly right after college after doing cfa or mba. You won't find them here.
My opinion: not possible unless you come from such a family business (broking/wealth management) and are able to overtake it. Breaking into PE is much more harder than big law and especially hard if you're a lawyer turned manager, there would always be 1000 more better options available in the market over you
"Secondly, most likely you as a lawyer won't get placed in such firms and end up in consulting"
Bhai bura nahi manna hai. To the best of my knowledge case studies which are used by firms to select candidates requires good enough math skills. Not calculus level, but ability to interpret charts, make number based decision etc. And this we are talking at top B schools where everyone is good in math and english.
Still MBB firms hire less from these institutes. I just find if very casual types that since you are a lawyer, and might not get into iBanking or PE, consulting toh rakha hi hua hai. I mean try solving some case studies and see kitna paani me ho. And also see how many law background people in India are working in MBB firms as front end consultants. Most are CA/Engineer/Econ grads.
No offence, sometimes I am truly amazed to see this law superiority bubble. I mean without competition, people have declared that we have the best articulation skills, we will anyway get consulting profiles without asking how many Lawyers are working as front end strategy consultants in MBB in India. Aur jo non lawyers hai, woh jhak marne ke liye MBA school gye. MBB is the dream of the top people across B schools.
Coming to salaries, I dont know much about it so cant comment. And this is a law vs MBA debate so no need to bring in Tech salaries. But, the reason i think law partners earn money, is because law is specialised field.
Meaning i will have to spend time doing nothing except it to gain expertise. Most MBA grads join startups, become generalists, try different things. So, i think this is a huge trade off.
As far as the iBanking route is concerned, join MBB. Stay for 5y. Now exit to PE. You might get a chance.
My opinion: not possible unless you come from such a family business (broking/wealth management) and are able to overtake it. Breaking into PE is much more harder than big law and especially hard if you're a lawyer turned manager, there would always be 1000 more better options available in the market over you
Bhai bura nahi manna hai. To the best of my knowledge case studies which are used by firms to select candidates requires good enough math skills. Not calculus level, but ability to interpret charts, make number based decision etc. And this we are talking at top B schools where everyone is good in math and english.
Still MBB firms hire less from these institutes. I just find if very casual types that since you are a lawyer, and might not get into iBanking or PE, consulting toh rakha hi hua hai. I mean try solving some case studies and see kitna paani me ho. And also see how many law background people in India are working in MBB firms as front end consultants. Most are CA/Engineer/Econ grads.
No offence, sometimes I am truly amazed to see this law superiority bubble. I mean without competition, people have declared that we have the best articulation skills, we will anyway get consulting profiles without asking how many Lawyers are working as front end strategy consultants in MBB in India. Aur jo non lawyers hai, woh jhak marne ke liye MBA school gye. MBB is the dream of the top people across B schools.
Coming to salaries, I dont know much about it so cant comment. And this is a law vs MBA debate so no need to bring in Tech salaries. But, the reason i think law partners earn money, is because law is specialised field.
Meaning i will have to spend time doing nothing except it to gain expertise. Most MBA grads join startups, become generalists, try different things. So, i think this is a huge trade off.
As far as the iBanking route is concerned, join MBB. Stay for 5y. Now exit to PE. You might get a chance.
Anyway, all the best. Main chala.