How plausible are solid biglaw exit options? Forum

[Otunga]

I've read often on the board lately about how solid exit options following biglaw are eroding. To what degree is this true? If it is generally true, then it'd seem to follow that you have to be more debt averse than before at the t14. So what if you obtain biglaw and do it 5 years max? If you did it right, you have a positive net worth by then. But that doesn't count for a lot if the jobs coming out of biglaw don't pay above average salaries, or otherwise simply aren't there. If you leave biglaw and make a modest 50-70k salary or something along those lines, that has to be frustrating. That said, it's not a bad position without loan payments to make. Granted, if that salary is being paid by the government, that's likely a lot less stressful than your job at the large firm.

[buffalo_]

I've read often on the board lately about how solid exit options following biglaw are eroding. To what degree is this true? If it is generally true, then it'd seem to follow that you have to be more debt averse than before at the t14. So what if you obtain biglaw and do it 5 years max? If you did it right, you have a positive net worth by then. But that doesn't count for a lot if the jobs coming out of biglaw don't pay above average salaries, or otherwise simply aren't there. If you leave biglaw and make a modest 50-70k salary or something along those lines, that has to be frustrating. That said, it's not a bad position without loan payments to make. Granted, if that salary is being paid by the government, that's likely a lot less stressful than your job at the large firm.

[El Principe]

You guys really gotta start using the search feature.

There's a lot of datapoints out there from threads and links showing how exit-options differ from corporate and lit. groups, how specialization affects those odds, non-legal exits, quality of life, after what period of time is it advisable to lateral, etc.

Generally speaking, you can find just about all the data you want, but you can't give a blanket statement concerning exit options. Some people still make 6 figures in house, some go work shitlaw, some quit law altogether and write books or weave baskets, some work for fedgov, some get some non-legal position at one of their client's company, some start their own firms, etc. Generally consensus is there are ways to make good money after big law, HOWEVER, you probably aren't likely to make the same money you made in big law. It's important to note your QOL can be better, however that's not always the case.

[LRGhost]

This is part of the whole 'law school is a scam' thing. You just don't have access to information about exit options. You also don't really get to 'decide' to last five years in Big Law and then exit to a smaller firm or in-house or whatever. Corporate work tends to have better in-house options. Litigators tend to remain litigators but I'd imagine there are better government options available. None of this talks about the availability of these options. There are plenty of stories of people who work six years, get pushed out, and can't find in-house work or firm work. There are plenty of stories of second years who find work in smaller firms with better hours.

[84651846190]

It depends on how well you make connections and network, and also on how hard (and smart) you work to get a great reputation. The problem with some people going into biglaw is that they think they can hide out and "chill" for a few years in biglaw. That's a one-way ticket to unemployment or an incredibly shitty/disappointing career after your biglaw stint is up.