V5 vs. non-traditional opportunity re: recession

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V5 vs. non-traditional opportunity re: recession

Postby Anonymous User » Sat Jul 14, 2018 10:22 am

Thanks!
Last edited by Anonymous User on Mon Jul 16, 2018 9:12 pm, edited 2 times in total.

BrainsyK

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Re: V5 vs. non-traditional opportunity re: recession

Postby BrainsyK » Sat Jul 14, 2018 10:42 am

Go to MBB if you want business instead of law. Why is this a question.

hatelawandgoinghome

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Re: V5 vs. non-traditional opportunity re: recession

Postby hatelawandgoinghome » Sat Jul 14, 2018 6:48 pm

Hi,

Can you pm me on how you got the offer? Actively trying to break into consulting (currently a first year big law associate)

oblig.lawl.ref

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Re: V5 vs. non-traditional opportunity re: recession

Postby oblig.lawl.ref » Sat Jul 14, 2018 11:41 pm

Yeah definitely go with MBB if business is your long term goal. Going law and then business is def a non-traditional routes and it's always easier to avoid non-traditional routes.

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cfcm

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Re: V5 vs. non-traditional opportunity re: recession

Postby cfcm » Sat Jul 14, 2018 11:53 pm

On the other hand, if you are truly confident that a recession is looming, perhaps your talents would be wasted at either of these places.

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Re: V5 vs. non-traditional opportunity re: recession

Postby Anonymous User » Sun Jul 15, 2018 4:36 am

lmfao @ "looming recession." OP if you can predict the next recession I think you should become a hedge fund billionaire, not a management consultant

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Re: V5 vs. non-traditional opportunity re: recession

Postby Wolverine32 » Sun Jul 15, 2018 6:32 am

Recession? Bruh, take a look at some macro data when you get a chance and stay off the tabloids (specifically, a certain network that stars with a C and ends with an N). The middle letter is a N, if that helps.

Law is a great career for a recession relative to others that pay a similar rate (e.g., the destruction to global banking that began in 08 and just started to end with the uptick in global growth post-Nov, 2016). The top corporate firms in big law have generally diversified their practices to include larger restructuring practices and have also focused on higher margin work as others haven’t seen the same growth as these larger firms that could afford to make the investment.

Use those business skills to evaluate cash flows of firms and do a little thought/research into how these firms make that cash flow—strong restructuring practices prob give you something similar to a “put” against layoffs when a corporate practice sees a short term, yet steep drop off.

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Re: V5 vs. non-traditional opportunity re: recession

Postby $$$$$$ » Sun Jul 15, 2018 10:37 am

Unless you want to be a lawyer, go MBB....and its not even close. Also, I wouldn't worry about a recession, the only recession proof practices on the transaction side are finance and bankruptcy, and honestly you don't want to be in any of those practices when shit hits the fan (i.e. 100 hour weeks every week for partners that are batshit insane).

2 years as an associate at MBB can get you pretty much any business job you want, including private equity, hedge funds, banking, strategy, etc.

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Re: V5 vs. non-traditional opportunity re: recession

Postby Anonymous User » Sun Jul 15, 2018 11:23 am

$$$$$$ wrote:
2 years as an associate at MBB can get you pretty much any business job you want, including private equity, hedge funds, banking, strategy, etc.


Lol. This is true to the extent that 2 years as an associate at at a V10 can get you any legal job you want. As in, yeah you will be in the running for lots of jobs that other people would kill for, but it’s not a magical pass after 2 years into a world of amazing jobs. One of my best undergrad friends went to b school when I was at law school. He ground for 4 years at McKinsey, finally made the move across into banking, realized it was just another grind against attrition, and is now doing strategic consulting at a boutique for 65% of what I make as a 6th year, working just as hard - maybe slightly fewer fire drills.

I never understood the people who maintain that consulting is a better life somehow. If you’re single, love travel for the sake of travel, don’t mind being assigned to bumblefuck Iowa for a year long project, and never want to get married, then cool. You still get paid less though.

The exit options are equally stratified as in law - everybody is going to do fine coming out of a good consultancy or a good law firm, but there’s still only a limited number of really amazing jobs, and if you’re brilliant, hardworking, charismatic and/or family connected, you’d get one regardless of which route you took.

As for which is more recession proof - you can’t be broad like that. It’s office to office, firm to firm.

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Re: V5 vs. non-traditional opportunity re: recession

Postby Anonymous User » Sun Jul 15, 2018 1:54 pm

$$$$$$ wrote: 2 years as an associate at MBB can get you pretty much any business job you want, including private equity, hedge funds, banking, strategy, etc.


this is completely fucking wrong RE hedge funds, private equity, banking. the window for jumping into HF/PE from MBB is pre-MBA - you do two years and then you jump to the same sort of PE role that investment banking analysts do (and that's an uphill battle too). if you're a JD, you're entering as a post-MBA consultant along with like 30 other people from you business school. the people they're hiring at OP's level at PE/HF are people from HBS/GSB who already worked in HF/PE before b-school, and even those guys don't always get buy-side jobs after graduation. it's insanely competitive, to the extent that PE associates at KKR and shit are forgoing b-school because they're worried that they won't be able to get back into the industry once they leave. maybe MBB could get an operations (non-investing) role at a fund, working with portfolio co's, but that's very different, compensation and role-wise, than an investing one - you're basically an in-house consultant. and I don't see why it'd be any easier, or more attractive, to do that rather than work as a JD and move over from private funds to work for a GC. unless you like business. in which case, why leave MBB.

as for banking, 1) you can already do that with a JD out of law school, they hire JDs for summer associate programs; 2) you can definitely get a VP banking gig more easily as a lawyer than an MBB if you work in corporate because you're like, doing the same transactions as them, and have skills they value. not saying it's "easy" to do it, but you're definitely better-positioned as a transactions lawyer.

MBB, post-MBA, can get you jobs at Fortune 500s in biz-dev or strategy. which is fine! it's not a path to making millions on Wall Street.

Source: I was a BB investment banker for 3 years and my girlfriend works in PE

PS: people are treating this MBB thing like it's obviously a better job than a V10 and I have no idea why. if you're into "business" sure, but if you're indifferent between law/making powerpoints, the legal job pays better now, pays more 10 years from now, and doesn't require travel.

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Re: V5 vs. non-traditional opportunity re: recession

Postby Anonymous User » Mon Jul 16, 2018 8:16 pm

.

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Re: V5 vs. non-traditional opportunity re: recession

Postby $$$$$$ » Mon Jul 16, 2018 9:23 pm

Anonymous User wrote:
$$$$$$ wrote: 2 years as an associate at MBB can get you pretty much any business job you want, including private equity, hedge funds, banking, strategy, etc.


this is completely fucking wrong RE hedge funds, private equity, banking. the window for jumping into HF/PE from MBB is pre-MBA - you do two years and then you jump to the same sort of PE role that investment banking analysts do (and that's an uphill battle too). if you're a JD, you're entering as a post-MBA consultant along with like 30 other people from you business school. the people they're hiring at OP's level at PE/HF are people from HBS/GSB who already worked in HF/PE before b-school, and even those guys don't always get buy-side jobs after graduation. it's insanely competitive, to the extent that PE associates at KKR and shit are forgoing b-school because they're worried that they won't be able to get back into the industry once they leave. maybe MBB could get an operations (non-investing) role at a fund, working with portfolio co's, but that's very different, compensation and role-wise, than an investing one - you're basically an in-house consultant. and I don't see why it'd be any easier, or more attractive, to do that rather than work as a JD and move over from private funds to work for a GC. unless you like business. in which case, why leave MBB.

as for banking, 1) you can already do that with a JD out of law school, they hire JDs for summer associate programs; 2) you can definitely get a VP banking gig more easily as a lawyer than an MBB if you work in corporate because you're like, doing the same transactions as them, and have skills they value. not saying it's "easy" to do it, but you're definitely better-positioned as a transactions lawyer.

MBB, post-MBA, can get you jobs at Fortune 500s in biz-dev or strategy. which is fine! it's not a path to making millions on Wall Street.

Source: I was a BB investment banker for 3 years and my girlfriend works in PE

PS: people are treating this MBB thing like it's obviously a better job than a V10 and I have no idea why. if you're into "business" sure, but if you're indifferent between law/making powerpoints, the legal job pays better now, pays more 10 years from now, and doesn't require travel.



So intense - definitely not wrong, since those outcomes happened to friends of mine that worked at those firms. Are they outcomes that associates coming out of law school can get? Who knows, but McKinsey helped buddies get into private equity and two of them went to hedge funds. Also, the few kids I know from law school that went to McKinsey had far better experiences than every single biglaw associate i've ever met.

Also, MBB IS an obviously better job than a V10, unless you really want to be a lawyer. I worked at a V10 for a few years out of law school. Never met a group of such motivated, hard-working, intelligent people that absolutely regretted their life decisions. Anyone with any sense and an inkling for a business side career should definitely NOT pass up MBB for a law firm.

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Re: V5 vs. non-traditional opportunity re: recession

Postby Anonymous User » Mon Jul 16, 2018 10:07 pm

$$$$$$ wrote:
Anonymous User wrote:
$$$$$$ wrote: 2 years as an associate at MBB can get you pretty much any business job you want, including private equity, hedge funds, banking, strategy, etc.


this is completely fucking wrong RE hedge funds, private equity, banking. the window for jumping into HF/PE from MBB is pre-MBA - you do two years and then you jump to the same sort of PE role that investment banking analysts do (and that's an uphill battle too). if you're a JD, you're entering as a post-MBA consultant along with like 30 other people from you business school. the people they're hiring at OP's level at PE/HF are people from HBS/GSB who already worked in HF/PE before b-school, and even those guys don't always get buy-side jobs after graduation. it's insanely competitive, to the extent that PE associates at KKR and shit are forgoing b-school because they're worried that they won't be able to get back into the industry once they leave. maybe MBB could get an operations (non-investing) role at a fund, working with portfolio co's, but that's very different, compensation and role-wise, than an investing one - you're basically an in-house consultant. and I don't see why it'd be any easier, or more attractive, to do that rather than work as a JD and move over from private funds to work for a GC. unless you like business. in which case, why leave MBB.

as for banking, 1) you can already do that with a JD out of law school, they hire JDs for summer associate programs; 2) you can definitely get a VP banking gig more easily as a lawyer than an MBB if you work in corporate because you're like, doing the same transactions as them, and have skills they value. not saying it's "easy" to do it, but you're definitely better-positioned as a transactions lawyer.

MBB, post-MBA, can get you jobs at Fortune 500s in biz-dev or strategy. which is fine! it's not a path to making millions on Wall Street.

Source: I was a BB investment banker for 3 years and my girlfriend works in PE

PS: people are treating this MBB thing like it's obviously a better job than a V10 and I have no idea why. if you're into "business" sure, but if you're indifferent between law/making powerpoints, the legal job pays better now, pays more 10 years from now, and doesn't require travel.



So intense - definitely not wrong, since those outcomes happened to friends of mine that worked at those firms. Are they outcomes that associates coming out of law school can get? Who knows, but McKinsey helped buddies get into private equity and two of them went to hedge funds. Also, the few kids I know from law school that went to McKinsey had far better experiences than every single biglaw associate i've ever met.

Also, MBB IS an obviously better job than a V10, unless you really want to be a lawyer. I worked at a V10 for a few years out of law school. Never met a group of such motivated, hard-working, intelligent people that absolutely regretted their life decisions. Anyone with any sense and an inkling for a business side career should definitely NOT pass up MBB for a law firm.


It's not unheard of to get PE/HF out of the *pre-MBA* role, sure. there are some funds that even prefer it. *pre-MBA* MBB is one of the most coveted jobs in America. it's like being an IB analyst at Goldman Sachs.

the *post-MBA* role, which OP would move into, is an average outcome at M7 business schools. MBB hires in bulk from like, Tuck. it's a fine job. you are not going to lateral into an investing position at any reputable PE/HF from a post-MBA MBB role unless you have prior investing experience. in which case...you didn't get the job because of MBB. you got it because you already worked at PE/HF. (to repeat: there are *operational* roles you could get there. and you're 'working at a PE fund' in the same way that the GC is.)

that said, if OP wants to do business stuff, she should do MBB. completely agree.



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