How Rare is this In-House Opportunity?

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Anonymous User
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How Rare is this In-House Opportunity?

Postby Anonymous User » Mon Jul 31, 2017 1:59 pm

deleted thanks for the input.
Last edited by Anonymous User on Mon Jul 31, 2017 5:13 pm, edited 1 time in total.

jhett

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Re: How Rare is this In-House Opportunity?

Postby jhett » Mon Jul 31, 2017 2:38 pm

I can't speak specifically about comp in the NYC market, but a couple general thoughts:

Four years out from partnership is too long to count on any promises or statements made now. It's usually only within the last 1-2 years in which you get a good feeling about whether you'll make partner. They may really like you now, but the business/clients/internal politics can change a lot in four years. If a partner is specifically grooming you to take over his/her clients, then that increases the odds. However, generally speaking just being a well-liked midlevel does not equal good chances at partnership.

The in-house opportunity being at a client of the firm is important. It means you'll leave on good terms with the firm, they will treat you well in order to get business from you, and it gives you the opportunity to go back to the firm in the future if you don't end up liking the job or just want to switch things up again. You may even come back as a partner if you are able to bring in a book of business with you.

Good in-house positions are hard to find, and can take a long time from application to offer. So if you pass on this opportunity and decide later on that you want out (or are pushed out), you'll be up against strong competition for good slots.

Is it possible to get a secondment at the client? You'll be able to try out the job to see if you really like it while the firm still pays you.

As you can see, I am leaning towards in-house, being in-house myself (not NYC).

Anonymous User
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Re: How Rare is this In-House Opportunity?

Postby Anonymous User » Mon Jul 31, 2017 2:47 pm

deleted
Last edited by Anonymous User on Mon Jul 31, 2017 5:13 pm, edited 1 time in total.

Anonymous User
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Re: How Rare is this In-House Opportunity?

Postby Anonymous User » Mon Jul 31, 2017 2:55 pm

[edited]

Anonymous User
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Re: How Rare is this In-House Opportunity?

Postby Anonymous User » Mon Jul 31, 2017 3:28 pm

To answer your direct question: very rare.

I had a similar unexpected client offer to leave big law. My offer was for a business role leading my own business unit so it was a little different. Base comp put me ahead of my class year and would have kept me there for a few additional years until the Cravath raises moved the market (I'm still ahead but I think next year I fall behind on base comp). You should factor in that big, scheduled pay raises akin to the lockstep system are very rare in corporate America, especially at your comp level. Absent promotions, you should expect for this salary to be it going forward with a likelihood that you stay slightly ahead of the national inflation rate.

You should factor in what will likely be better benefits. My lower cost superior health insurance is worth at least $12k/year over firm health insurance.

Unless you are going to a small employer or a known sweatshop, your hours will almost certainly be much better. In my experience, in house counsel tend to work early or late, but very rarely both. The big corporate sweatshops are easy to identify. On the smaller employer side, my observation has been that companies where equity is involved day to day tend to have some big law tendencies culturally.

Other things to think about:

If this is a big corp, you'll probably find the HR policies mildly annoying. Lots of procedures to deal with.

Your boss will have a bigger impact on your life during work. In a diverse practice, you can always try to find a different partner to work with, not so in house. Be particularly mindful of the former big law gunner who wasn't able to turn that switch off when he went in house (I was a gunner).

You're at least 10,000 billable hours away from being put up for partner. Just something to really think about. The closer you get, the more tempting it will be to stick around and see what happens.

Anonymous User
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Re: How Rare is this In-House Opportunity?

Postby Anonymous User » Mon Jul 31, 2017 5:41 pm

It is pretty damn rare at a midlevel to get a 250k position. Very few positions pay that much, especially in corporate.

I'm also a 4th year and I just took a job at $200k total pay package including bonus but the kicker is that the position is remote.

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SmokeytheBear

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Re: How Rare is this In-House Opportunity?

Postby SmokeytheBear » Mon Jul 31, 2017 5:45 pm

For the other anons who got these in house gigs, did you work with a recruiter, or was it also from a client of the firm?

Biglawx3

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Re: How Rare is this In-House Opportunity?

Postby Biglawx3 » Tue Aug 01, 2017 9:06 am

Anonymous User wrote:It is pretty damn rare at a midlevel to get a 250k position. Very few positions pay that much, especially in corporate.

I'm also a 4th year and I just took a job at $200k total pay package including bonus but the kicker is that the position is remote.


Anon - would you mind PM'ing me? I'd be curious to hear more about what you do now.

Anonymous User
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Re: How Rare is this In-House Opportunity?

Postby Anonymous User » Tue Aug 01, 2017 10:03 am

I took a similar "unicorn" in-house job as a 5th year and have NOT looked back (just over 1 year now in-house). Fairly confident I could always return to a Sr Counsel (potentially partner) position if desired but god I hope I don't. Mine was more niche (tax specialty) but you really can't put the change in lifestyle into words. I got mine through a recruiter. Go for it!



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