SEC to Biglaw

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Anonymous User
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SEC to Biglaw

Postby Anonymous User » Wed Sep 18, 2013 11:44 pm

Sorry for the repost. edited to be anon.

Fortunate enough to have an offer to start with the SEC post graduation through the advance commitment program. Most attorneys at the Commission start at Big Law and then lateral over to the SEC after a few years. I know you see the reverse at the higher levels (director at sec to partner at big law). How about with 2 to 3 years experience at the SEC? No shot? I wonder because the work is very different and I assume moving over from gov to big law would be a steep learning curve. Long term goals are to either be a Division head at the SEC or a Partner at a firm. Looking at bios, it seems like a doing a few years at a firm is a prerequisite to moving up.

fxb
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Re: SEC to Biglaw

Postby fxb » Wed Sep 18, 2013 11:53 pm

Anonymous User wrote:Sorry for the repost. edited to be anon.

Fortunate enough to have an offer to start with the SEC post graduation through the advance commitment program. Most attorneys at the Commission start at Big Law and then lateral over to the SEC after a few years. I know you see the reverse at the higher levels (director at sec to partner at big law). How about with 2 to 3 years experience at the SEC? No shot? I wonder because the work is very different and I assume moving over from gov to big law would be a steep learning curve. Long term goals are to either be a Division head at the SEC or a Partner at a firm. Looking at bios, it seems like a doing a few years at a firm is a prerequisite to moving up.


Well you might have to redshirt but I'd say taking the position at Alabama or LSU might be worth it.

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mr. wednesday
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Re: SEC to Biglaw

Postby mr. wednesday » Thu Sep 19, 2013 12:03 am

People move back and forth between the two. Unless you are thinking of not taking the SEC offer, you're probably 3-4 years too soon to be worrying about moving over to biglaw. See how you like it at the SEC and whether you are advancing in the way that you'd like before you decide on a timeline for leaving.

anon168
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Re: SEC to Biglaw

Postby anon168 » Thu Sep 19, 2013 12:11 am

Anonymous User wrote:Sorry for the repost. edited to be anon.

Fortunate enough to have an offer to start with the SEC post graduation through the advance commitment program. Most attorneys at the Commission start at Big Law and then lateral over to the SEC after a few years. I know you see the reverse at the higher levels (director at sec to partner at big law). How about with 2 to 3 years experience at the SEC? No shot? I wonder because the work is very different and I assume moving over from gov to big law would be a steep learning curve. Long term goals are to either be a Division head at the SEC or a Partner at a firm. Looking at bios, it seems like a doing a few years at a firm is a prerequisite to moving up.


2-3 years at the SEC is too soon to lateral.

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Re: SEC to Biglaw

Postby Anonymous User » Thu Sep 19, 2013 12:48 am

mr. wednesday wrote:People move back and forth between the two. Unless you are thinking of not taking the SEC offer, you're probably 3-4 years too soon to be worrying about moving over to biglaw. See how you like it at the SEC and whether you are advancing in the way that you'd like before you decide on a timeline for leaving.


OP here. I haven't accepted yet . Still considering a few other opportunities, which is why I was curious. Over the summer most of the Attorneys there seem to recommended starting at a firm first before coming to the SEC if given the choice. Starting at an agency is different from starting at the firm and most felt that the firm experience early in your career adds to your professional development. Also lateraling over with a big law salary puts you in the top portion or the salary ranges. Starting there as an entry level means your pay will always be on the lower portion of the range unless you leave at some point and then come back.

anon168 wrote:
2-3 years at the SEC is too soon to lateral.


I thought so too, but one attorney actually said that was the perfect time. He said firms will probably put you n the same class as their first or second years at the firm because of your lack of firm experience. He thought that waiting until your 5 or 6th year was too late and at that point you would probably need to wait it out and attempt to go for an position as counsel later in your career.

I know this is putting the cart before the horse, but these are things I would like to consider before making a choice. I love the agency and would like to have a long career there, but I also want to make sure I am setting myself up for longterm success. 95% of the lawyers I met over the summer worked at a firm at some point, and for the majority of them it was at the beginning of their careers.

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Re: SEC to Biglaw

Postby Anonymous User » Sun Sep 22, 2013 6:31 pm

Anonymous User wrote:
mr. wednesday wrote:People move back and forth between the two. Unless you are thinking of not taking the SEC offer, you're probably 3-4 years too soon to be worrying about moving over to biglaw. See how you like it at the SEC and whether you are advancing in the way that you'd like before you decide on a timeline for leaving.


OP here. I haven't accepted yet . Still considering a few other opportunities, which is why I was curious. Over the summer most of the Attorneys there seem to recommended starting at a firm first before coming to the SEC if given the choice. Starting at an agency is different from starting at the firm and most felt that the firm experience early in your career adds to your professional development. Also lateraling over with a big law salary puts you in the top portion or the salary ranges. Starting there as an entry level means your pay will always be on the lower portion of the range unless you leave at some point and then come back.

anon168 wrote:
2-3 years at the SEC is too soon to lateral.


I thought so too, but one attorney actually said that was the perfect time. He said firms will probably put you n the same class as their first or second years at the firm because of your lack of firm experience. He thought that waiting until your 5 or 6th year was too late and at that point you would probably need to wait it out and attempt to go for an position as counsel later in your career.

I know this is putting the cart before the horse, but these are things I would like to consider before making a choice. I love the agency and would like to have a long career there, but I also want to make sure I am setting myself up for longterm success. 95% of the lawyers I met over the summer worked at a firm at some point, and for the majority of them it was at the beginning of their careers.


Where do SEC attorneys go when they go to a firm?

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Re: SEC to Biglaw

Postby Anonymous User » Sun Sep 22, 2013 7:16 pm

Anonymous User wrote:
Anonymous User wrote:
mr. wednesday wrote:People move back and forth between the two. Unless you are thinking of not taking the SEC offer, you're probably 3-4 years too soon to be worrying about moving over to biglaw. See how you like it at the SEC and whether you are advancing in the way that you'd like before you decide on a timeline for leaving.


OP here. I haven't accepted yet . Still considering a few other opportunities, which is why I was curious. Over the summer most of the Attorneys there seem to recommended starting at a firm first before coming to the SEC if given the choice. Starting at an agency is different from starting at the firm and most felt that the firm experience early in your career adds to your professional development. Also lateraling over with a big law salary puts you in the top portion or the salary ranges. Starting there as an entry level means your pay will always be on the lower portion of the range unless you leave at some point and then come back.

anon168 wrote:
2-3 years at the SEC is too soon to lateral.


I thought so too, but one attorney actually said that was the perfect time. He said firms will probably put you n the same class as their first or second years at the firm because of your lack of firm experience. He thought that waiting until your 5 or 6th year was too late and at that point you would probably need to wait it out and attempt to go for an position as counsel later in your career.

I know this is putting the cart before the horse, but these are things I would like to consider before making a choice. I love the agency and would like to have a long career there, but I also want to make sure I am setting myself up for longterm success. 95% of the lawyers I met over the summer worked at a firm at some point, and for the majority of them it was at the beginning of their careers.


Where do SEC attorneys go when they go to a firm?


Depends on where in the SEC they worked (enforcement, investment management, CorpFin, trading & markets, etc). But you will see former attorneys end up in practices ranging from Securities Litigation, Investment Management, Broker-Dealer Groups, Capital Markets Practice, Trading & Markets Practices, and Financial Institutions Practices. It really just depends on their experience.

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Re: SEC to Biglaw

Postby Anonymous User » Mon Sep 30, 2013 8:35 pm

How do SEC positions shake out geographically?

I am interested in making the reverse move -- going to a firm with a strong investment management practice, and moving over to the SEC in a few years. Are there are a lot of positions for which I might qualify in their NY office with experience in this practice group? Or is that work in DC?

Also, do grades still matter? How many years of BigLaw would I need? Is there anything I can do at my firm to make myself a better candidate?
Last edited by Anonymous User on Mon Sep 30, 2013 8:38 pm, edited 1 time in total.

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goldeneye
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Re: SEC to Biglaw

Postby goldeneye » Mon Sep 30, 2013 8:36 pm

fxb wrote:
Anonymous User wrote:Sorry for the repost. edited to be anon.

Fortunate enough to have an offer to start with the SEC post graduation through the advance commitment program. Most attorneys at the Commission start at Big Law and then lateral over to the SEC after a few years. I know you see the reverse at the higher levels (director at sec to partner at big law). How about with 2 to 3 years experience at the SEC? No shot? I wonder because the work is very different and I assume moving over from gov to big law would be a steep learning curve. Long term goals are to either be a Division head at the SEC or a Partner at a firm. Looking at bios, it seems like a doing a few years at a firm is a prerequisite to moving up.


Well you might have to redshirt but I'd say taking the position at Alabama or LSU might be worth it.


This was unappreciated.

anon168
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Re: SEC to Biglaw

Postby anon168 » Mon Sep 30, 2013 9:09 pm

Anonymous User wrote:How do SEC positions shake out geographically?

I am interested in making the reverse move -- going to a firm with a strong investment management practice, and moving over to the SEC in a few years. Are there are a lot of positions for which I might qualify in their NY office with experience in this practice group? Or is that work in DC?

Also, do grades still matter? How many years of BigLaw would I need? Is there anything I can do at my firm to make myself a better candidate?


SEC offices based on need and slots. So whether a particular office has an opening will depend on funding and that offices FTE status.

What does "strong investment management practice" actually mean? As in, what are you doing? Counseling on '40 Issues? Boards? Fund managers? Is it litigation, enforcement or transaction? Is it litigation in courts, or before regulatory bodies?

And, yes, grades do still matter.

Anonymous User
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Re: SEC to Biglaw

Postby Anonymous User » Mon Sep 30, 2013 9:29 pm

anon168 wrote:
Anonymous User wrote:How do SEC positions shake out geographically?

I am interested in making the reverse move -- going to a firm with a strong investment management practice, and moving over to the SEC in a few years. Are there are a lot of positions for which I might qualify in their NY office with experience in this practice group? Or is that work in DC?

Also, do grades still matter? How many years of BigLaw would I need? Is there anything I can do at my firm to make myself a better candidate?


SEC offices based on need and slots. So whether a particular office has an opening will depend on funding and that offices FTE status.

What does "strong investment management practice" actually mean? As in, what are you doing? Counseling on '40 Issues? Boards? Fund managers? Is it litigation, enforcement or transaction? Is it litigation in courts, or before regulatory bodies?

And, yes, grades do still matter.


I think mostly the first three things, but I am also a 3L who is not entirely sure yet, so that's why I asked. Is lit more useful than formation/advising? Latter is much stronger than former at my firm. Thanks for the help.

anon168
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Re: SEC to Biglaw

Postby anon168 » Mon Sep 30, 2013 9:36 pm

Anonymous User wrote:
anon168 wrote:
Anonymous User wrote:How do SEC positions shake out geographically?

I am interested in making the reverse move -- going to a firm with a strong investment management practice, and moving over to the SEC in a few years. Are there are a lot of positions for which I might qualify in their NY office with experience in this practice group? Or is that work in DC?

Also, do grades still matter? How many years of BigLaw would I need? Is there anything I can do at my firm to make myself a better candidate?


SEC offices based on need and slots. So whether a particular office has an opening will depend on funding and that offices FTE status.

What does "strong investment management practice" actually mean? As in, what are you doing? Counseling on '40 Issues? Boards? Fund managers? Is it litigation, enforcement or transaction? Is it litigation in courts, or before regulatory bodies?

And, yes, grades do still matter.


I think mostly the first three things, but I am also a 3L who is not entirely sure yet, so that's why I asked. Is lit more useful than formation/advising? Latter is much stronger than former at my firm. Thanks for the help.


More useful just depends on what division you want to work at in the SEC. If you just want to work in the IM division, it probably makes the most sense to get a broad range of exposure at your firm. If you want to go into Enforcement (to either litigate IM cases or not), it probably makes to have a litigation background obviously.

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Re: SEC to Biglaw

Postby Anonymous User » Thu Oct 03, 2013 10:27 am

Just curious OP, what are your stats? I heard the field for that position was INCREDIBLY competitive.

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Re: SEC to Biglaw

Postby Anonymous User » Thu Oct 03, 2013 3:09 pm

Anonymous User wrote:Just curious OP, what are your stats? I heard the field for that position was INCREDIBLY competitive.


My stats were pretty good. But I will say getting hired at the SEC straight out of Law school has a lot to do with luck etc. Enforcement as well as a few other divisions hired a few people through advance committment after not doing so last year. Relevant experience before law school also seems to go a long way at the SEC. They seem less hung up about candidates being from a T14.

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Re: SEC to Biglaw

Postby Anonymous User » Thu Oct 03, 2013 3:20 pm

Anonymous User wrote:
Anonymous User wrote:Just curious OP, what are your stats? I heard the field for that position was INCREDIBLY competitive.


My stats were pretty good. But I will say getting hired at the SEC straight out of Law school has a lot to do with luck etc. Enforcement as well as a few other divisions hired a few people through advance committment after not doing so last year. Relevant experience before law school also seems to go a long way at the SEC. They seem less hung up about candidates being from a T14.



Has there been hiring this year through the honors program?

LIke were you there last summer?

jarofsoup
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Re: SEC to Biglaw

Postby jarofsoup » Thu Oct 03, 2013 3:23 pm

Can you message me. I am guessing you were in Corp Fin this past summer. The early committed you already? That is counter to what they said they would do...

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Re: SEC to Biglaw

Postby Anonymous User » Thu Oct 03, 2013 4:12 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Just curious OP, what are your stats? I heard the field for that position was INCREDIBLY competitive.


My stats were pretty good. But I will say getting hired at the SEC straight out of Law school has a lot to do with luck etc. Enforcement as well as a few other divisions hired a few people through advance committment after not doing so last year. Relevant experience before law school also seems to go a long way at the SEC. They seem less hung up about candidates being from a T14.



Has there been hiring this year through the honors program?

LIke were you there last summer?


Yes & yes.

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Re: SEC to Biglaw

Postby Anonymous User » Thu Oct 03, 2013 6:21 pm

Division

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Re: SEC to Biglaw

Postby Anonymous User » Thu Oct 03, 2013 6:57 pm

Anonymous User wrote:Division


Not gonna get specific with the information because it would out me. But I know of 3 divisions that have already extended advance commitment offers.

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Re: SEC to Biglaw

Postby Anonymous User » Thu Oct 03, 2013 7:08 pm

I didn't know the SEC hires from summer honors. Hmmm...

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Fujin11
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Re: SEC to Biglaw

Postby Fujin11 » Thu Oct 03, 2013 7:10 pm

Do they do this same kind of hiring through the semester programs?

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Re: SEC to Biglaw

Postby Anonymous User » Thu Oct 03, 2013 7:29 pm

Fujin11 wrote:Do they do this same kind of hiring through the semester programs?


Yeah they do actually. I know of two people there now who interned during the semester and got jobs here. A lot of the info on TLS about the SEC, while helpful, is a little outdated. For the 2Ls who do the summer honors, some groups only take as many as they may have spots for, so your odds are good if you don't screw up. Others never hire through advance comittment. Enforcement is a little differnt. they had a gang of interns, but only a couple got gigs through advance comittment.

Like I said, a lot of it is luck, because the departments that are hiring and how many students they are looking for varies from year to year. But the SEC does still do advance comittment, the program has just changed. Before it would be a position posted on USA gov that anyone could apply to. Now they pretty much only offer it to people who intern there, if they have space. But a small number of attorneys are hired every year through the advance comittment program.

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Re: SEC to Biglaw

Postby Anonymous User » Thu Oct 03, 2013 7:37 pm

Anonymous User wrote:I didn't know the SEC hires from summer honors. Hmmm...



which divisions?

skitlets
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Re: SEC to Biglaw

Postby skitlets » Thu Oct 10, 2013 6:20 pm

Anon do you mind PMing me? Would like to know a bit more about advanced commitment.




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