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Postby Baltimore0924 » Tue Jun 23, 2015 8:23 pm

Does anyone here have advice on obtaining compliance positions post law school? After completing my 1st year of law school, I've discovered that the practice of law might not be something I'm interested in pursuing. However, I still would want to graduate and pass the bar to at least make myself more marketable. I didn't do very well the first year due to a death in the family which hindered me emotionally and I was constantly traveling back in forth to a different state on the weekends. My grades suffered dramatically and I'm not eligible now for OCI. I've inherited quite a lot of money (lets just say its over a million as I don't want to give out numbers), so debt is not an issue now and the rest of my family has decided to pay for tuition and all remaining expenses. My financial situation is a lot different from everyone else in my class, but I'd like to do something that interests me and not go the typical biglaw route (or possibly any law firm). I'm considering compliance as it's really interesting and I think having my law degree and passing the bar will put me at an advantage over others in the workforce. My background is in history and political science, so I don't have a finance or economic degree. However, can I still work in compliance at maybe an investment bank? Any ideas would be great. Thanks!


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Re: Compliance

Postby Eastboundndown » Tue Jun 23, 2015 8:30 pm

PM me and we can discuss

Nat Sherman

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Joined: Thu Aug 16, 2012 9:12 pm

Re: Compliance

Postby Nat Sherman » Sun Jul 05, 2015 2:18 pm

Compliance is booming right now if you have the background they're looking for. With how much Dodd-Frank changed the regulatory requirements, some places are dipping down and picking up people who just graduated law school if they have relevant experience. Look on linkedin right now for compliance jobs and even bulge bracket banks have 10+ compliance positions looking for people with as little as 1-2 years experience.

At minimum you'll want to take corporations/bus orgs and securities regulation. In addition to that, you'll want some of the more nuanced securities regulation classes that your school has that deals with things such as private equity, mutual funds, derivatives, M&A, etc. Basically you just want any and all classes on your transcript that scream "I probably should have just got an MBA."

The best practical experience right now is typically at the federal agencies that were affected by Dodd Frank since many of them are overwhelmed by the new laws that you'd get a lot of exposure. The best ones to be at are FRB, OCC, or FDIC, after that is SEC, CFTC, and maybe CFPB. Also depending on what division, Treasury.

Getting a job in compliance right out of law school is not impossible, but everyone I know who's done it did so through a combination of networking and having the right experience at the right time. So start trying to find alumni who are in compliance positions at places you'd like to work for and try to reach out to them.

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