Tell me about exit options

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Anonymous User
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Tell me about exit options

Postby Anonymous User » Sat Sep 25, 2010 7:51 pm

I've narrowed down my choice to two firms: one is a V10 juggernaut in NY/DC, the other is objectively the best/biggest firm in my hometown secondary market (NLJ250 but not Vault).

I want to be back in my hometown in the long term. My long term goal is to either become a partner at a large or mid-sized firm in my hometown, or go in-house in my hometown. I don't see myself wanting to make partner in NY/DC.

I understand that I can easily go from the V10 back to my hometown after a few years of practice (2? 3? 4? 5? - I don't know). But what would I really gain? I can go to my hometown right now. Would the V10 somehow make me more likely to make partner at my hometown BigLaw firm? Would it help me get an in-house position in my hometown? Or does going to a V10 only make sense if you want to make partner at a lower Vault firm in a major market, or go in-house in a major market? Everyone keeps telling me what a great opportunity the V10 firm is, but I don't get how it furthers my personal goals any more than going to the best firm in my hometown.

Anonymous User
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Joined: Tue Aug 11, 2009 9:32 am

Re: Tell me about exit options

Postby Anonymous User » Sat Sep 25, 2010 8:04 pm

I think this is something you would want to ask practicing lawyers about perhaps in your hometown. I don't see how TLS posters have any authority or wisdom to comment on this.

270910
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Joined: Thu May 21, 2009 9:51 pm

Re: Tell me about exit options

Postby 270910 » Sat Sep 25, 2010 8:05 pm

There are an awful lot of partners kicking around who started at giant NYC firms. It's a definite filter down system, but I really can't quantify it.

As a law student, evidence is hard to find. A few things stand out to me: First, the top firms in NYC tend not to hire (many) laterals and tend not to lose partners. Second, you can search attorney bios. Many firms won't list prior associations, but some do - and when you find a firm comparable to your home firm that lists them, you can see what happens. Third, it's a general perception strong enough that when lateral link / ATL polls associates, one question is how laterals are treated vs. home grown associates for partnership considerations.

Something to consider is that many people start in NYC because living in NYC on a biglaw salary for a few years is a desirable path through life in its own right, not because it somehow situates you for the long run. You only live once, right - so just because you want to wind up in X place doesn't mean spending time in Y place wouldn't be fun.

Anonymous User
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Joined: Tue Aug 11, 2009 9:32 am

Re: Tell me about exit options

Postby Anonymous User » Sat Sep 25, 2010 8:19 pm

OP here.

I've already lived where the V10 firm is so I don't feel like I really need the new experience. I also will have no debt at graduation so I can afford to take the lower salary in my hometown (which is actually over $160k when adjusted for cost of living differences). In other words, I have no reason to take the V10 unless it gives me a better shot at my long term aspirations. It's just frustrating for me that all over TLS/xoxo you see "V10 = exit options~" but no one can ever articulate what the actual effect of V10 pedigree is on a career in a smaller market.

270910
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Joined: Thu May 21, 2009 9:51 pm

Re: Tell me about exit options

Postby 270910 » Sat Sep 25, 2010 8:21 pm

Anonymous User wrote:OP here.

I've already lived where the V10 firm is so I don't feel like I really need the new experience. I also will have no debt at graduation so I can afford to take the lower salary in my hometown (which is actually over $160k when adjusted for cost of living differences). In other words, I have no reason to take the V10 unless it gives me a better shot at my long term aspirations. It's just frustrating for me that all over TLS/xoxo you see "V10 = exit options~" but no one can ever articulate what the actual effect of V10 pedigree is on a career in a smaller market.


Well, exit options mean different things to different people. If you also might consider working at a bank, corporation, or government agency the V10 may be a better bet. I really do recommend looking up bios for attorneys at the other firm and similar firms though, especially partners. Figure out how they did it and draw conclusions from there. I can't think of any other way to get that information.




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