F100 GC or Biglaw Partner

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F100 GC or Biglaw Partner

Postby Anonymous User » Sat Sep 08, 2012 5:08 pm

Currently weighing options for next summer and thinking about the long-term. Does anyone have information/anecdotes/opinions regarding how Fortune 100 General Counsel/Associate General Counsel salaries compare to Biglaw partner salaries?

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Re: F100 GC or Biglaw Partner

Postby Anonymous User » Sat Sep 08, 2012 6:18 pm

bump

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Re: F100 GC or Biglaw Partner

Postby Anonymous User » Sat Sep 08, 2012 6:41 pm

Rainmaking Partner > F100 GC > T14 Law Prof > Service Partner > F100 AGC Imo.

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Old Gregg
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Re: F100 GC or Biglaw Partner

Postby Old Gregg » Sat Sep 08, 2012 6:43 pm

You probably won't have a choice, so why dwell on it???

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bk1
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Re: F100 GC or Biglaw Partner

Postby bk1 » Sat Sep 08, 2012 6:56 pm

Fresh Prince wrote:You probably won't have a choice, so why dwell on it???

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Re: F100 GC or Biglaw Partner

Postby Anonymous User » Sat Sep 08, 2012 7:07 pm

Anonymous User wrote:Currently weighing options for next summer and thinking about the long-term. Does anyone have information/anecdotes/opinions regarding how Fortune 100 General Counsel/Associate General Counsel salaries compare to Biglaw partner salaries?



There's thinking ahead and then there's complete and utter speculation. I really think you could do a better job of making this assessment in 3-5 years when you see what the firm's partnership track looks like and how the rest of the economy is carrying along.

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Stanford4Me
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Re: F100 GC or Biglaw Partner

Postby Stanford4Me » Sat Sep 08, 2012 7:09 pm

bk1 wrote:
Fresh Prince wrote:You probably won't have a choice, so why dwell on it???

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Mce252
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Re: F100 GC or Biglaw Partner

Postby Mce252 » Sat Sep 08, 2012 7:26 pm

If you look at the Fortune 100 GC, you will find that many of them were in fact big law partners, or very close to it.

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Re: F100 GC or Biglaw Partner

Postby Anonymous User » Sat Sep 08, 2012 8:34 pm

Stanford4Me wrote:
bk1 wrote:
Fresh Prince wrote:You probably won't have a choice, so why dwell on it???


Because our choice about what to do 2L summer will, to various extents and in various manners, be a choice among probabilities. Some of these probabilities pertain to the likelihood of becoming GC/AGC or biglaw partner. I'm thinking about taking an in-house position next summer with great starting pay. Factors other than salary in this particular position, which I 'd rather not discuss, would be pretty effing sweet in the short and long run. I'm not concerned about others' perceptions of the probabilities of becoming general counsel or partner. I can do that math myself. What I can't do the math for, is that for which I can't find much data. Thus, my original post.

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Re: F100 GC or Biglaw Partner

Postby EvilClinton » Sat Sep 08, 2012 8:37 pm

Anonymous User wrote:Because our choice about what to do 2L summer will, to various extents and in various manners, be a choice among probabilities. Some of these probabilities pertain to the likelihood of becoming GC/AGC or biglaw partner. I'm thinking about taking an in-house position next summer with great starting pay. Factors other than salary in this particular position, which I 'd rather not discuss, would be pretty effing sweet in the short and long run. I'm not concerned about others' perceptions of the probabilities of becoming general counsel or partner. I can do that math myself. What I can't do the math for, is that for which I can't find much data. Thus, my original post.


If you take an in house position during your 2L summer you will be neither of these things. GC's come from firms.

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Old Gregg
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Re: F100 GC or Biglaw Partner

Postby Old Gregg » Sat Sep 08, 2012 8:46 pm

EvilClinton wrote:
Anonymous User wrote:Because our choice about what to do 2L summer will, to various extents and in various manners, be a choice among probabilities. Some of these probabilities pertain to the likelihood of becoming GC/AGC or biglaw partner. I'm thinking about taking an in-house position next summer with great starting pay. Factors other than salary in this particular position, which I 'd rather not discuss, would be pretty effing sweet in the short and long run. I'm not concerned about others' perceptions of the probabilities of becoming general counsel or partner. I can do that math myself. What I can't do the math for, is that for which I can't find much data. Thus, my original post.


If you take an in house position during your 2L summer you will be neither of these things. GC's come from firms.


Exactly. Same thing with second year laterals into big firms. If you want to move inhouse, the later in your career you do it, the more senior you will be and the greater chance you'll have at making GC.

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Re: F100 GC or Biglaw Partner

Postby Anonymous User » Sat Sep 08, 2012 9:56 pm

Fresh Prince wrote:
EvilClinton wrote:
Anonymous User wrote:Because our choice about what to do 2L summer will, to various extents and in various manners, be a choice among probabilities. Some of these probabilities pertain to the likelihood of becoming GC/AGC or biglaw partner. I'm thinking about taking an in-house position next summer with great starting pay. Factors other than salary in this particular position, which I 'd rather not discuss, would be pretty effing sweet in the short and long run. I'm not concerned about others' perceptions of the probabilities of becoming general counsel or partner. I can do that math myself. What I can't do the math for, is that for which I can't find much data. Thus, my original post.


If you take an in house position during your 2L summer you will be neither of these things. GC's come from firms.


Exactly. Same thing with second year laterals into big firms. If you want to move inhouse, the later in your career you do it, the more senior you will be and the greater chance you'll have at making GC.


Let me try to rephrase the question. Let's say you have two options. You can (1) take a position with a V100, or (2) go in house with an F100 right out of law school. Starting salaries under both options are identical. Ignoring the objective perspective of whether you should or shouldn't do one or the other (because you have idiosyncratic reasons for considering both options), generally speaking, what kind of money would you be likely to make with the same employer 10 years after choosing either option?

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Old Gregg
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Re: F100 GC or Biglaw Partner

Postby Old Gregg » Sat Sep 08, 2012 10:19 pm

Impossible to answer. There are 100 firms in the V100 with various comp schemes. There are also 100 companies in the F100 with even more varied comp schemes. The most I can say is that you'll definitely make six figures.

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Re: F100 GC or Biglaw Partner

Postby KidStuddi » Sat Sep 08, 2012 10:21 pm

Anonymous User wrote:Let me try to rephrase the question. Let's say you have two options. You can (1) take a position with a V100, or (2) go in house with an F100 right out of law school. Starting salaries under both options are identical. Ignoring the objective perspective of whether you should or shouldn't do one or the other (because you have idiosyncratic reasons for considering both options), generally speaking, what kind of money would you be likely to make with the same employer 10 years after choosing either option?


Well, I don't really know what the salary structure is for in-house counsel, but the pay at lockstep firms for associates in BigLaw is pretty widely available information.

Class Year Salary
1 $160k
2 $170k
3 $185k
4 $210k
5 $230k
6 $250k
7 $265k
8 $280k

Junior partner compensation seems to vary widely among firms, depending in large part whether they have two-tiered partnership systems. For a more precise answer, you'd have to disclose your firm options -- V100 is a massive range.

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Re: F100 GC or Biglaw Partner

Postby Anonymous User » Sat Sep 08, 2012 10:56 pm

KidStuddi wrote:
Anonymous User wrote:Let me try to rephrase the question. Let's say you have two options. You can (1) take a position with a V100, or (2) go in house with an F100 right out of law school. Starting salaries under both options are identical. Ignoring the objective perspective of whether you should or shouldn't do one or the other (because you have idiosyncratic reasons for considering both options), generally speaking, what kind of money would you be likely to make with the same employer 10 years after choosing either option?


Well, I don't really know what the salary structure is for in-house counsel, but the pay at lockstep firms for associates in BigLaw is pretty widely available information.

Class Year Salary
1 $160k
2 $170k
3 $185k
4 $210k
5 $230k
6 $250k
7 $265k
8 $280k

Junior partner compensation seems to vary widely among firms, depending in large part whether they have two-tiered partnership systems. For a more precise answer, you'd have to disclose your firm options -- V100 is a massive range.


I appreciate the response. However, like you said, the firm data is readily available. I'm trying to get a better bead on the in-house pay. I don't really think it will help, but let's say it's an F25. Does anyone know anyone, or "know a guy who knows a guy" who did this sort of thing and what happened in the long run? Any anecdotes or estimates would be appreciated.


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Re: F100 GC or Biglaw Partner

Postby Mce252 » Sun Sep 09, 2012 11:43 am

Anonymous User wrote:
Fresh Prince wrote:
EvilClinton wrote:
Anonymous User wrote:Because our choice about what to do 2L summer will, to various extents and in various manners, be a choice among probabilities. Some of these probabilities pertain to the likelihood of becoming GC/AGC or biglaw partner. I'm thinking about taking an in-house position next summer with great starting pay. Factors other than salary in this particular position, which I 'd rather not discuss, would be pretty effing sweet in the short and long run. I'm not concerned about others' perceptions of the probabilities of becoming general counsel or partner. I can do that math myself. What I can't do the math for, is that for which I can't find much data. Thus, my original post.


If you take an in house position during your 2L summer you will be neither of these things. GC's come from firms.


Exactly. Same thing with second year laterals into big firms. If you want to move inhouse, the later in your career you do it, the more senior you will be and the greater chance you'll have at making GC.


Let me try to rephrase the question. Let's say you have two options. You can (1) take a position with a V100, or (2) go in house with an F100 right out of law school. Starting salaries under both options are identical. Ignoring the objective perspective of whether you should or shouldn't do one or the other (because you have idiosyncratic reasons for considering both options), generally speaking, what kind of money would you be likely to make with the same employer 10 years after choosing either option?



Again, most of the F100 GC have big law backgrounds. That means they did not promote from within to fill the role. Why not go with the option that could give you a choice later on down the road?

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Re: F100 GC or Biglaw Partner

Postby Anonymous User » Sun Sep 09, 2012 12:56 pm

Mce252 wrote:
Anonymous User wrote:
Fresh Prince wrote:
EvilClinton wrote:
If you take an in house position during your 2L summer you will be neither of these things. GC's come from firms.


Exactly. Same thing with second year laterals into big firms. If you want to move inhouse, the later in your career you do it, the more senior you will be and the greater chance you'll have at making GC.


Let me try to rephrase the question. Let's say you have two options. You can (1) take a position with a V100, or (2) go in house with an F100 right out of law school. Starting salaries under both options are identical. Ignoring the objective perspective of whether you should or shouldn't do one or the other (because you have idiosyncratic reasons for considering both options), generally speaking, what kind of money would you be likely to make with the same employer 10 years after choosing either option?



Again, most of the F100 GC have big law backgrounds. That means they did not promote from within to fill the role. Why not go with the option that could give you a choice later on down the road?


This is why I rephrased the question. I would rather not discuss my subjective valuation of the in-house option because the factors motivating this valuation are, in part, personal (I don't want to out myself), and I am more interested in others' experiences than how internet strangers would rate my priorities. My initial mistake was asking specifically about GC positions. I apologize for any confusion. What I'm trying to gauge is potential outcomes, GC or otherwise. I understand this is a difficult inquiry to make, which is why anecdotes might be the most helpful thing. I do, however, think that the link that jc1988 posted was very helpful.

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Old Gregg
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Re: F100 GC or Biglaw Partner

Postby Old Gregg » Sun Sep 09, 2012 1:00 pm

Anonymous User wrote:, however, think that the link that jc1988 posted was very helpful.


How is it helpful? Those salaries aren't applicable to 99.99999% of the posters here, including you. I might as well start listing salaries of pro football players, because you have about an equal chance of becoming one.

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Re: F100 GC or Biglaw Partner

Postby Anonymous User » Sun Sep 09, 2012 1:19 pm

Fresh Prince wrote:
Anonymous User wrote:, however, think that the link that jc1988 posted was very helpful.


How is it helpful? Those salaries aren't applicable to 99.99999% of the posters here, including you. I might as well start listing salaries of pro football players, because you have about an equal chance of becoming one.


It is one of few posts so far that contains any helpful data or experiences. It is one of few posts that adds greater than zero value. I appreciate that he (or she) just tried to be helpful. That is more than I can say for some of the posts in this thread. Let's just say he has set the bar low, but at least he has set it above the ground, so to speak.
Last edited by Anonymous User on Sun Sep 09, 2012 1:21 pm, edited 1 time in total.

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Re: F100 GC or Biglaw Partner

Postby IAFG » Sun Sep 09, 2012 1:20 pm

What's the offer rate for summers in GC offices? How likely are they to promote someone from within without ANY firm experience? Are you more likely to end up GC by doing firm work than by staying in-house the whole time? What's the attrition? If you fail to shine at your F100, who will have you on the lateral market?

It's asinine to look at potential outcomes without also looking at likelihoods. You're asking all the wrong questions.

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Re: F100 GC or Biglaw Partner

Postby rayiner » Sun Sep 09, 2012 1:21 pm

Anonymous User wrote:
Fresh Prince wrote:
Anonymous User wrote:, however, think that the link that jc1988 posted was very helpful.


How is it helpful? Those salaries aren't applicable to 99.99999% of the posters here, including you. I might as well start listing salaries of pro football players, because you have about an equal chance of becoming one.


It is the only post so far that contains any helpful data or experiences. It is the only post that adds greater than zero value. I appreciate that he (or she) just tried to be helpful. That is more than I can say for some of the posts in this thread. Let's just say he has set the bar low, but at least he has set it above the ground, so to speak.


ITT: people who ask a stupid question, get reasonable answers pointing them on the right track, then fixate on the one answer that indulges the stupidity of their question.

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Re: F100 GC or Biglaw Partner

Postby Anonymous User » Sun Sep 09, 2012 1:26 pm

IAFG wrote:What's the offer rate for summers in GC offices? How likely are they to promote someone from within without ANY firm experience? Are you more likely to end up GC by doing firm work than by staying in-house the whole time? What's the attrition? If you fail to shine at your F100, who will have you on the lateral market?

It's asinine to look at potential outcomes without also looking at likelihoods. You're asking all the wrong questions.


I think that's all probably true. Do you have any data or personal knowledge of individual situations and outcomes?

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Re: F100 GC or Biglaw Partner

Postby FattyMcFatFat » Sun Sep 09, 2012 1:31 pm

rayiner wrote:
Anonymous User wrote:
Fresh Prince wrote:
Anonymous User wrote:, however, think that the link that jc1988 posted was very helpful.


How is it helpful? Those salaries aren't applicable to 99.99999% of the posters here, including you. I might as well start listing salaries of pro football players, because you have about an equal chance of becoming one.


It is the only post so far that contains any helpful data or experiences. It is the only post that adds greater than zero value. I appreciate that he (or she) just tried to be helpful. That is more than I can say for some of the posts in this thread. Let's just say he has set the bar low, but at least he has set it above the ground, so to speak.


ITT: people who ask a stupid question, get reasonable answers pointing them on the right track, then fixate on the one answer that indulges the stupidity of their question.


--LinkRemoved--

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EvilClinton
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Re: F100 GC or Biglaw Partner

Postby EvilClinton » Sun Sep 09, 2012 1:36 pm

Here is an anecdote for you.

One of my friends who was a 3L last year struck out at OCI, he ended up getting an in house position at a huge company. Great pay. He had an awesome summer.

THEY DID NOT GIVE HIM AN OFFER BECAUSE IN-HOUSE LEGAL DEPARTMENTS DO NOT HIRE DIRECTLY OUT OF LAW SCHOOL

He works at the local PD's office now. His position is temporary but he is hopeful that if he does well enough they will make room for him to come on permanently.




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