Anonymous User wrote:How long do you think you need to work at a large firm in the corporate practice to become marketable to in-house positions? You mention you got calls as early as the end of 1st year, but I'm curious about desirable positions.
Any advice for 1st year corporate associates? Did you research legal issues a lot as a 1st year associate/2nd year associate? Or mostly just due diligence? Do you think this experience was typical?
What are the best exit options coming from a corporate group? By that I mean most highly sought after and best balance of hours to pay (with pay probably with a heavier weight). I realize this is somewhat of a subjective question, but I'd like to hear your thoughts. I want to start thinking about gravitating towards specific types of corporate work (if possible) so I have better options, should I choose to ever leave.
Thanks for sharing.
Answering in turn:
1) Sorry to give an "it depends" answer, but I think the length of time it takes to be marketable for in-house gigs really varies on the type of gig and your background. Do you have connections in the industry? Past experiences in finance? Such things will work to lessen the time. And sometimes clients just like what they see.
2) While there was certainly some research work done as a junior associate, most of my work consisted of diligence and "deal work" (little bit of everything, some barely even legal work). This is fairly typical of M&A/corporate in general, your biggest value add is in calling people and setting up things and sort of generally acting as your client's agent.
3) Similarly, I think for that reason M&A is probably the best to prepare you to go in-house, though finance can supplant it if you're looking to go in-house as a specific type of finance company (such as working on the high-yield desk of a bulge bracket bank, for example).