Big Law Bankruptcy Exit Options

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Anonymous User
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Big Law Bankruptcy Exit Options

Postby Anonymous User » Thu Jul 13, 2017 7:31 pm

What are common exit options for bankruptcy attorneys?

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SmokeytheBear
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Re: Big Law Bankruptcy Exit Options

Postby SmokeytheBear » Thu Jul 13, 2017 7:34 pm

Are we talking corporate restructuring or just small time BR?

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Re: Big Law Bankruptcy Exit Options

Postby Anonymous User » Thu Jul 13, 2017 7:37 pm

Corporate restructuring

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Re: Big Law Bankruptcy Exit Options

Postby Anonymous User » Sat Jul 15, 2017 11:17 am

restructuring group at NY office of V5. The attrition in our group isn't as bad as the other large corp groups, but that's in part because there aren't as many exit opportunities. 4/5 of departures go to bankruptcy groups at other law firms, usually in different cities. The remaining 1/5 split between switching to different corporate group, clerking, financial advisor/hedge fund and in-house.

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SmokeytheBear
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Re: Big Law Bankruptcy Exit Options

Postby SmokeytheBear » Sat Jul 15, 2017 11:28 am

Anonymous User wrote:restructuring group at NY office of V5. The attrition in our group isn't as bad as the other large corp groups, but that's in part because there aren't as many exit opportunities. 4/5 of departures go to bankruptcy groups at other law firms, usually in different cities. The remaining 1/5 split between switching to different corporate group, clerking, financial advisor/hedge fund and in-house.


Anecdotal, but I have a few friends who were in various V10 restructuring groups in NYC. This was the case as well. A few switched firms so they could join corporate groups because they wanted better exit ops.

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Re: Big Law Bankruptcy Exit Options

Postby Anonymous User » Sat Jul 15, 2017 11:31 am

SmokeytheBear wrote:
Anonymous User wrote:restructuring group at NY office of V5. The attrition in our group isn't as bad as the other large corp groups, but that's in part because there aren't as many exit opportunities. 4/5 of departures go to bankruptcy groups at other law firms, usually in different cities. The remaining 1/5 split between switching to different corporate group, clerking, financial advisor/hedge fund and in-house.


Anecdotal, but I have a few friends who were in various V10 restructuring groups in NYC. This was the case as well. A few switched firms so they could join corporate groups because they wanted better exit ops.

V5 poster from above. Forgot to note that the people who leave to join financial advisors/distressed funds usually have some kind of prior work experience in finance/advisory.

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Re: Big Law Bankruptcy Exit Options

Postby Anonymous User » Sat Jul 15, 2017 12:24 pm

I wonder this too. I am a restructuring associate. The experience is great. The work is so thick that you have to basically just run matters. But exit options seem to be completely lacking.

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Re: Big Law Bankruptcy Exit Options

Postby Anonymous User » Sat Jul 15, 2017 12:31 pm

OP here. Thanks for the answers; they confirm what I thought I knew. The firm I'm hopefully going to join seems to have a great culture and everyone in the group has been there their entire career from the newest associate to the oldest partner and only a 1/2 dozen people have left the group in the past decade (some to different groups within in the firm and some to in house positions). I can see myself working there my entire career but wanted to know what other options are out there if that changes down the road.




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