Starting as inhouse

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Anonymous User
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Starting as inhouse

Postby Anonymous User » Fri Jul 05, 2013 10:16 pm

Hi all,

I am currently taking a break from bar prep and decided to ask you all a question for some input. I was fortunate enough to be employed. I will start work soon after the bar exam is over.

I am going to be working as corporate counsel for a regional company that is expanding quickly. One risky thing is that I won't have a senior corporate counsel or general counsel at the company - I am the only corporate counsel. I am said to work directly with the president. My mentor (who is a partner at biglaw) told me he will be training me/working with me closely so all the legal work is done properly. This company is the partner's client. I know I am taking a risk by doing this but because it was either that or be unemployed, I had to take it.

During my study breaks, I have been reading articles lately that going in-house will shut me off completely from law firms and possibly be detrimental to my legal career. What's TLS' perspective on this? Also, any general thoughts on my situation would be appreciated.

09042014
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Re: Starting as inhouse

Postby 09042014 » Fri Jul 05, 2013 11:31 pm

Damn that partner is probably picking this company apart with legal fees.

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

Re: Starting as inhouse

Postby Anonymous User » Fri Jul 05, 2013 11:52 pm

Starting a career in-house is generally not a good idea because a) you're starting at a much lower salary b) you don't have the training/expertise/experience that a firm usually gives to be able to hold your own in that in-house environment c) I've heard from people who did this that it is very hard to go from in-house to private or PI/gov't

Anonymous User
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Re: Starting as inhouse

Postby Anonymous User » Sat Jul 06, 2013 10:12 am

Desert Fox wrote:Damn that partner is probably picking this company apart with legal fees.


Eh. I externed at his firm and worked on some of their corporate restructuring and the billing the partner was doing. It wasn't as high as I thought. The company's president is a friend of the partners so according to the partner it was his way of saving them some legal costs and helping me out ITE. However, I'm curious as to why someone would sacrifice his legal fees for a law graduate like me (even if he did like me a lot/saw a lot of potential). Perhaps, he thinks this company will go public?

Anonymous User wrote:Starting a career in-house is generally not a good idea because a) you're starting at a much lower salary b) you don't have the training/expertise/experience that a firm usually gives to be able to hold your own in that in-house environment c) I've heard from people who did this that it is very hard to go from in-house to private or PI/gov't


Yeah. All valid points. I'm hoping I can change factor a) because according to my offer letter I have stated that I am up for review in March. As for b) I guess I'm taking a risk that the partner/his firm will really help me out. Supposedly I'll be doing a lot of real estate work. and c) I don't necessarily want to go back to a firm but I do desire higher salary so I can start making a dent in my loan payments.

Anonymous User
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Re: Starting as inhouse

Postby Anonymous User » Sat Jul 06, 2013 5:03 pm

Bump

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NinerFan
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Re: Starting as inhouse

Postby NinerFan » Sat Jul 06, 2013 6:53 pm

Anonymous User wrote:
Eh. I externed at his firm and worked on some of their corporate restructuring and the billing the partner was doing. It wasn't as high as I thought. The company's president is a friend of the partners so according to the partner it was his way of saving them some legal costs and helping me out ITE. However, I'm curious as to why someone would sacrifice his legal fees for a law graduate like me (even if he did like me a lot/saw a lot of potential). Perhaps, he thinks this company will go public?


My guess is that if it's expanding, the partner thinks it'll eventually be big enough to need a GC and even a staff of in-house lawyers. His friend might not be there forever. Best to have your own hand-picked GC in place who owes you big time than have the company hire a rando attorney.

It is really strange to hire someone with very little experience though, especially if you'll be the only one.

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thewaves
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Re: Starting as inhouse

Postby thewaves » Sat Jul 06, 2013 7:04 pm

Your options are probably to move up as the company expands or seek in-house work at another similarly structured company.

Anonymous User
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Re: Starting as inhouse

Postby Anonymous User » Sat Jul 06, 2013 7:41 pm

NinerFan wrote:My guess is that if it's expanding, the partner thinks it'll eventually be big enough to need a GC and even a staff of in-house lawyers. His friend might not be there forever. Best to have your own hand-picked GC in place who owes you big time than have the company hire a rando attorney.

It is really strange to hire someone with very little experience though, especially if you'll be the only one.


His friend is the owner/president of the company - the company is privately held but allegedly has $100 mil + annual revenue (you can never tell with these privately held companies).

Yeah, your second point is what still concerns me. I guess I have to wait and see if my mentor really comes through with his promise to train me throughout the process.

thewaves wrote:Your options are probably to move up as the company expands or seek in-house work at another similarly structured company.


Yeah. How likely do you guys think it is to have some significant salary increase as an in-house counsel.

Any advice in utilizing my title/position to find better opportunities? I plan on joining ACC (Association of Corporate Counsel) as soon as I pass the bar.

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thewaves
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Re: Starting as inhouse

Postby thewaves » Sat Jul 06, 2013 7:58 pm

edit: misread




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