Turning down Biglaw ... am I crazy? Forum

[jchiles]

The other issue is that probationary period - it's an entirely reasonable thing for them to do but it's a pretty big career gamble. If the market tanks in your area there's not much you can do about it whereas big law seems a little more secure.

[chingwoo]

Absolutely ... already have some lined up (not a big whale by any means, but something to show). Also have the advantage of just having to get the foot in the door. The senior guys will likely close if I get them that far.

Glad to hear there is another B'er trolling the forums

I think I'm actually just illiterate. I was saying you aligned yourself as a B type. Idk what I am maybe Fiero can answer(though I suspect A).

Whats your risk tolerance? I personally would take the job but I don't have that debt load.

[Fiero85]

Absolutely ... already have some lined up (not a big whale by any means, but something to show). Also have the advantage of just having to get the foot in the door. The senior guys will likely close if I get them that far.

Glad to hear there is another B'er trolling the forums

I think I'm actually just illiterate. I was saying you aligned yourself as a B type. Idk what I am maybe Fiero can answer(though I suspect A).

Whats your risk tolerance? I personally would take the job but I don't have that debt load.

lol

re: my opinon, Type A(sian) for sure

[Foghornleghorn]

I guess the real question to me is contingency planning: what are your options if you get no-offered equity. You can't pretend like that's not a possibility.

[Anonymous User]

OP

Risk tolerance is extremely high. Wouldn't it have to be to even take it this far?!?!

No, I'm very cognizant of the fact I could get no offered on the equity train. If that happens, I know law won't be an option (nor would I want it to be likely) so probably stick with investment realm (where I was at pre-law), more specifically finance or RE finance. Have connections at some I-banks and capital finance groups. Don't know where I would enter but I can land something.

Also, I legit lol'ed at the Type A(sian)

[chingwoo]

OP

Risk tolerance is extremely high. Wouldn't it have to be to even take it this far?!?!

No, I'm very cognizant of the fact I could get no offered on the equity train. If that happens, I know law won't be an option (nor would I want it to be likely) so probably stick with investment realm (where I was at pre-law), more specifically finance or RE finance. Have connections at some I-banks and capital finance groups. Don't know where I would enter but I can land something.

How much RE experience do you have?

[Anonymous User]

Zero ... finance experience, unrelated to RE though

[chingwoo]

Zero ... finance experience, unrelated to RE though

If this group is as hot shit as you say you are, I would take it then. You somehow beat out a good deal of other candidates probably with prior real estate experience (which shows you have the hustle to probably get another job). Even if you miss your equity bonus share or what not, I don't see it being that difficult for you to land back on your feet especially since you have finance experience.

[Anonymous User]

I'm certainly not holding myself out as hot shit, have nothing to base that on ha. As far as landing the gig, It came down (1) personality. Interviews 2-4 were more of a hangout session. Strictly shootin the shit. And (2) Their previous Jr was a law grad [from my LS] who came straight from LS and killed it ... got lucky there obviously.

Leaning towards RE . Will update all in near future. Time to finish cram studying for the bar that may be completely unnecessary. Thanks again all

[FSK]

I'm a stupid law student, but I would just go and live my life. I'm not sure that loosing 2 years of your life to the biglaw machine is worth any amount of money.

[gp86]

Bar is paid for and studied up this point, so mine as well study for three more days and show up. But your point about exiting is main issue ... If I want to leave in two years, why not "leave" now before I get accustomed to the BIglaw paycheck and get trapped into staying for the $$$

This thread is why I hate law. You should think of it as two years of gaining experience in RE v two years doing completely unrelated bullshit like due diligence and sig pages. No one will care you were in big law. No one is impressed by lawyers except lawyers.

[FSK]

I'm pretty sure most people even hate lawyers.

[Johann]

I'm a stupid law student, but I would just go and live my life. I'm not sure that loosing 2 years of your life to the biglaw machine is worth any amount of money.

Yeah - if you are talking like 80k as shitty money, just take the RE job and cop PAYE. If you are talking like 45k shitty money, do biglaw.

[dixiecupdrinking]

Bar is paid for and studied up this point, so mine as well study for three more days and show up. But your point about exiting is main issue ... If I want to leave in two years, why not "leave" now before I get accustomed to the BIglaw paycheck and get trapped into staying for the $$$

This thread is why I hate law. You should think of it as two years of gaining experience in RE v two years doing completely unrelated bullshit like due diligence and sig pages. No one will care you were in big law. No one is impressed by lawyers except lawyers.

I kind of agree with this but it depends on OP's personal situation. If you're from no money and could be well and truly fucked by your law school debt... maybe go biglaw. But honestly, outside of the salary/stability (admittedly, big pluses) I don't see an advantage to going to a law firm here. If you can probably afford it, do what the hell you want to do.

[buddhabelly]

give you a mix of training and "training,"

what does this mean?

[thesealocust]

give you a mix of training and "training,"

what does this mean?

A very common experience in biglaw is to be given a task with little or no instruction, then receive criticism when you do it wrong, no matter how careful you were or how much clarification you sought in the beginning. And on the flip side, formal training in biglaw is often laughable and useless.

So you might come out of it on the other end knowing more than when you started, but the scare quotes around the word training are well deserved.

[BiglawAssociate]

Biglaw won't help you get the job you really want outside of law - it might hurt you.

But the reality is that you took out a ton of loans and you now have to pay the price. So suck it up, do biglaw and pay off your loans and then reevaluate. It might not be easy to get back into what you really want to do - but you have a shitload in debt and having a lot of debt will fuck you over far more in life than not doing what you want now.

[CanadianWolf]

OP: How many partners & associates in the CRE firm ?

What type of duties do you have during the first year ? Any formal training structure or program ? If so, that should make you attractive to other CRE firms if "no offered" an equity stake.

In which state are you sitting for the bar exam ? If in a UBE state, then the bar is very worthwhile.

Unfortunately, with so little information, it's hard to give little more than generic advice. Hard to tell if a stint, even a short one, with this CRE firm/group will enhance your future prospects within that industry. Without more detailed information (and we all understand your reluctance to share any more details) & with $150,000 of student loan debt, I think your choice was made 3 years ago when you signed the loan papers. Do your period of indentured servitude to earn your freedom.