Would you chose Midlaw over Big 4? Forum

[Anonymous User]

Also, can anyone talk about midlaw exit options?

Answer posted in http://www.top-law-schools.com/forums/v ... 0&start=50 is somewhat on point. Question was about IH hiring for midlaw vs. biglaw.

It really depends. Some industries/companies are prestige whores. It seemed like financial services cared more about pedigree than other industries. However, I think experience generally reigns supreme. If you don't have the experience and/or aren't a good cultural fit, you are not getting an offer. If I have 2 candidates that have similar experience and are both good cultural fits, the person from a more prestigious firm will probably get a slight bump.

When choosing a firm, I recommend choosing a firm that will give you top notch experience early in your career and the hours aren't too crushing (relatively) so you can last for at least a few years. My firm is well regarded in my market (which is a big city but not NYC), but my firm was a middle market firm. I recommend middle market firms over big name firms for experience on the corporate side, in general. More responsibility earlier on and less bullshit work....plus you aren't first year corporate associate #42. You are a person that the partners get to know on some level. Low partner to associate ratio is important - it means a better chance of mentorship.

[Anonymous User]

I would say if OP doesn't like practicing law in general, then OP likely won't enjoy tax (whether at big 4 or elsewhere). The "interesting" tax work at big 4 competes on some level with biglaw tax work (Think Baker McKenzie).

The shit tax (compliance, SALT, tax project) gets boring very quickly and few people in these groups are JD.

The JD-preferred tax is every bit like practicing law, except even more legal-driven. A tax lawyer once told me tax is just like litigation except more technical and less confrontational. You are constantly reading and writing about convoluted statutory materials and you have to enjoy working with numbers.

The previous anon is right that you will quickly get pigeon holed as the tax guy and it's difficult to move out. Again, not necessarily a bad thing unless it's nothing something you enjoy. If you're interested in the "business side" then you might want to look into a Big 4 Advisory role that takes JD (though I'm not sure what besides perhaps Regulatory).

[Anonymous User]

Some midlaw firms are obviously much better than other ML firms. I have really never understood the parameters of what qualifies as ML.

I would think it is… firms pays for Barbri, state fees, full health and life insurance, matching 401k, garage parking (if downtown), billables under 2000, initial 2 weeks vacation (increases over time), pays all costs if you are transferred to a satellite market (even if you request transfer) promptly repays travel costs including 4 star (or good 3 star) hotels, fly business class (or better), approaches market bonuses and salary is at least 80% of market. If through no fault of yours (bad/soft market) cuts are made, you are provided 2 (or 3) month notice.

Just curious--do junior associates at the most elite large firms even fly business class when traveling for the firm? That would surprise me. It would surprise me more if a smaller firm provided this.

It may be possible to fly business if it's a long flight (like to Asia or South America). But it still depends on the price. The firm will probably not pay 9k for business instead of like 2k for coach. The reason for paying for business BTW is not for your amusement but rather for you to be rested when you arrive and start working immediately.

[dixiecupdrinking]

OP, it sounds like you don't want to be a lawyer, so aside from dropping out, getting a decent job where you won't really be practicing law sounds like an ok outcome to me. I assume you can't afford to drop out, but I'd consider that as option 1A.

[krads153]

What do you want to do with your life?

In the long run, on average, accountants probably have much better QOL than lawyers, and probably better job prospects as well. It will be hard to find a 9 to 5 job in low COL area in law. It's pretty damn easy to get an accounting job that's 9 to 5 in low COL area though.

[Anonymous User]

Just putting it out there, but a ton of the attorneys in tax at my big4 would jump ship in a heartbeat to midlaw for the money, exit ops, and the fact that you are practicing.