How to transition from biglaw -> finance? Forum

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How to transition from biglaw -> finance?

Post by Anonymous User » Mon Jan 21, 2019 5:39 pm

2L heading to a V10 corporate practice this summer. For various reasons, I’m looking to make the switch out of biglaw and into finance as soon as possible. PE is the pipe dream, but very interested in IB as well.

There are a few things I think will hamper me in my attempt to transition: (1) I’m K-JD, (2) liberal arts undergrad degree, and (3) the city I’m doing my SA in has no real IB scene (but a big HF/PE scene).

What’s the best way to go about attempting to make the transition?

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jkpolk

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Re: How to transition from biglaw -> finance?

Post by jkpolk » Mon Jan 21, 2019 6:15 pm

Anonymous User wrote:2L heading to a V10 corporate practice this summer. For various reasons, I’m looking to make the switch out of biglaw and into finance as soon as possible. PE is the pipe dream, but very interested in IB as well.

There are a few things I think will hamper me in my attempt to transition: (1) I’m K-JD, (2) liberal arts undergrad degree, and (3) the city I’m doing my SA in has no real IB scene (but a big HF/PE scene).

What’s the best way to go about attempting to make the transition?
PE/IB isn't going to care about V10 corporate. If you could have gotten the job out of undergrad, you have a chance with networking (and a better chance at major IBs in NY than PE anywhere), but you could always try to raise a fund yourself.

Find people in the job you want with similar backgrounds to yours, email them and try to grab a coffee or lunch. Or even better, if you have friends who do the job you want, talk to them. Table stakes you should be able to build models, do basic college quant stuff, understand the basics of the business, etc. Ideally your resume would reflect those things.

waytoplant

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Re: How to transition from biglaw -> finance?

Post by waytoplant » Mon Jan 21, 2019 9:23 pm

Does it make sense to try to do a JD/MBA at your school? Or just drop out of law school altogether, chalk up the two years to a bad decision/sunk cost, and apply to business school? I'm sure your plan to move into finance is not impossible and may work out fine, but it sounds like you're trying to fit a square peg into a round hole when maybe you should just be making a round peg.

spyke123

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Re: How to transition from biglaw -> finance?

Post by spyke123 » Mon Jan 21, 2019 11:27 pm

I think the best option is to apply to summer associate positions at banks (if any banks are still hiring) for your 2L summer and if that does not work out apply for full time associate positions during 3L. From what I’ve seen it is much easier to go straight into finance out of law school then lateral from biglaw.

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Re: How to transition from biglaw -> finance?

Post by Anonymous User » Tue Jan 22, 2019 1:18 am

Agree about the JD-MBA for banking - straightforward recruiting process, just do a summer associate position. If that's not in the cards, you can network into it from a strong BigLaw corporate practice. I posted more about this in another thread somewhere a few days back.

You're not getting private equity at any remotely legit place, I'm gonna be straight up with you - it's extremely difficult getting that from a top five MBA program with prior investment banking experience if you've never done PE, let alone with no prior work experience, period. You're almost laughably unqualified - any place that would hire you is not a place you should want to work. Get the banking gig first.

Source: Was an investment banker before law school

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Re: How to transition from biglaw -> finance?

Post by Anonymous User » Tue Jan 22, 2019 10:08 am

spyke123 wrote:I think the best option is to apply to summer associate positions at banks (if any banks are still hiring) for your 2L summer and if that does not work out apply for full time associate positions during 3L. From what I’ve seen it is much easier to go straight into finance out of law school then lateral from biglaw.
I was also an analyst before law school and i completely agree with what he said. The PE competition is fierce enough for those analysts already; as a JD with no full time experience in finance you have literally zero chance to break into buy side straight out of law school.

As for banking, frankly your odds are still just slightly better than none if you want to go into banking right after law school. You have no work experience and will not spend your summer in IB. Those IBs are not going to invest in a full time asso, teach you how to build an LBO model, and take the risk to get you up to speed and see if you are good enough to keep up. Thats what summer internship is for; full time assos should be ready the day they start their job.

I would either recommend getting a JD/MBA (assuming you can attend an M7, otherwise don’t bother), or work in big law for one or two years. In fact i would prefer the latter, considering that the macro is not going to look good in the next two years and you run a huge risk of not getting decent bonuses or even getting laid off in banking. Either way bring out your A game of networking.

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