Big Fed v. Big 4, full-time offers, and exit options

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Perseus_I
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Big Fed v. Big 4, full-time offers, and exit options

Postby Perseus_I » Fri Oct 19, 2012 2:33 pm

I got a pathways/honors offer at a D.C. agency in antitrust (which leaves 2 possibilities) as well as a Big 4 offer in NYC, which quite possibly could lead to a full-time offer, and I'm wondering which one to take. I did a million firm interviews and 5 callbacks and got nothing, so I'm pretty sure I'm not going down that path again till I have something better to sell.

I'm most concerned about the possibility that even pathways positions do not always lead to full-time offers. What's the consensus here on offer rates? Also, how easy is it to lateral from DOJ/FTC Honors into M&A in the private sector? I have heard it's quite possible to lateral from big 4 tax into big law tax. I like interesting work and a solid paycheck, but I don't care that much to what extent I engage in the traditional practice of law.

Thanks!

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Re: Big Fed v. Big 4, full-time offers, and exit options

Postby Anonymous User » Fri Oct 19, 2012 3:39 pm

Perseus_I wrote:I got a pathways/honors offer at a D.C. agency in antitrust (which leaves 2 possibilities) as well as a Big 4 offer in NYC, which quite possibly could lead to a full-time offer, and I'm wondering which one to take. I did a million firm interviews and 5 callbacks and got nothing, so I'm pretty sure I'm not going down that path again till I have something better to sell.

I'm most concerned about the possibility that even pathways positions do not always lead to full-time offers. What's the consensus here on offer rates? Also, how easy is it to lateral from DOJ/FTC Honors into M&A in the private sector? I have heard it's quite possible to lateral from big 4 tax into big law tax. I like interesting work and a solid paycheck, but I don't care that much to what extent I engage in the traditional practice of law.

Thanks!


The FTC typically offers 1/2 to 3/4 of its antitrust summers permanent positions. This can change heavilly depending on the agency's budget. I think the DOJ very rarely offers permanent positions to summers, although you can apply through the Honors program and presumably have a higher chance. Exit options from the FTC into biglaw antitrust and in-house positions after several years(not sure about M&A) are ridiculously good.

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Re: Big Fed v. Big 4, full-time offers, and exit options

Postby Anonymous User » Fri Oct 19, 2012 9:51 pm

Anonymous User wrote:
Perseus_I wrote:I got a pathways/honors offer at a D.C. agency in antitrust (which leaves 2 possibilities) as well as a Big 4 offer in NYC, which quite possibly could lead to a full-time offer, and I'm wondering which one to take. I did a million firm interviews and 5 callbacks and got nothing, so I'm pretty sure I'm not going down that path again till I have something better to sell.

I'm most concerned about the possibility that even pathways positions do not always lead to full-time offers. What's the consensus here on offer rates? Also, how easy is it to lateral from DOJ/FTC Honors into M&A in the private sector? I have heard it's quite possible to lateral from big 4 tax into big law tax. I like interesting work and a solid paycheck, but I don't care that much to what extent I engage in the traditional practice of law.

Thanks!


The FTC typically offers 1/2 to 3/4 of its antitrust summers permanent positions. This can change heavilly depending on the agency's budget. I think the DOJ very rarely offers permanent positions to summers, although you can apply through the Honors program and presumably have a higher chance. Exit options from the FTC into biglaw antitrust and in-house positions after several years(not sure about M&A) are ridiculously good.


I basically agree with this. Except that the FTC hires eight people through its entry-level program every year, and it is my strong impression that they go into each summer intending to make offers to all of their summers. In other words, if you take the summer gig, I think you're in a similar situation come 3L as if you went to a firm. If you do well (meet expectations and are liked), you'll most likely get an offer.

It does seem exceedingly rare for a SLIP intern in DOJ Antitrust to get into the Honors Program, at least w/o an intervening clerkship. I have no idea why this is.

DOJ Antitrust has more of a revolving door with firms than FTC, but I think that is just because of differences in the types of people they hire and other differences that have nothing to do whether FTC folks COULD lateral out if they wanted to.

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Perseus_I
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Re: Big Fed v. Big 4, full-time offers, and exit options

Postby Perseus_I » Sat Oct 20, 2012 1:14 pm

What is it about the people the FTC hires that make them less likely to go into firms? Which one is better for someone interested in regulatory or transactional work but not litigation?

thegrayman
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Re: Big Fed v. Big 4, full-time offers, and exit options

Postby thegrayman » Sat Oct 20, 2012 2:17 pm

A relative of mine is big4 M&A (has his JD) and said that lateralling to a biglaw firm from big4 is near impossible. Perhaps with tax you have a better shot, but I would not expect this to be the case. Big4 does have good exit options though, I worked big4 audit before law school and just yesterday I got a phone call from a head hunter with a position to fill in accounting. Also, at least for our audit practice, the presumption was that all summer associates would get offers, so it was theirs to lose once they got in the door.

Obviously, every practice area is going to be a little different, but that was my anecdotal experience.

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hume85
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Re: Big Fed v. Big 4, full-time offers, and exit options

Postby hume85 » Sat Oct 20, 2012 2:30 pm

thegrayman wrote:A relative of mine is big4 M&A (has his JD) and said that lateralling to a biglaw firm from big4 is near impossible. Perhaps with tax you have a better shot, but I would not expect this to be the case. Big4 does have good exit options though, I worked big4 audit before law school and just yesterday I got a phone call from a head hunter with a position to fill in accounting. Also, at least for our audit practice, the presumption was that all summer associates would get offers, so it was theirs to lose once they got in the door.

Obviously, every practice area is going to be a little different, but that was my anecdotal experience.


This reflects the experiences of people I know that went Big4 after college. Big4 exit options are usually into the finance, accounting, or tax departments of public companies depending on your area at the Big4.




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