Difference between law and business careers Forum
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Difference between law and business careers
I'm curious if anyone can pinpoint the main differences in style and substance between careers in law and business, like i-banking.
I have the feeling that law is more "substantial" and relies less on networking and salesmanship. In terms of characteristics, I'm told that lawyers are risk-averse and businessmen are more risk-tolerant and profit-seeking...
I'd appreciate any thoughts on this.
I have the feeling that law is more "substantial" and relies less on networking and salesmanship. In terms of characteristics, I'm told that lawyers are risk-averse and businessmen are more risk-tolerant and profit-seeking...
I'd appreciate any thoughts on this.
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Re: Difference between law and business careers
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Last edited by Posner on Tue May 11, 2010 6:38 pm, edited 1 time in total.
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Re: Difference between law and business careers
I think law firms will need more business-saavy lawyers as they continue to get pressure regarding fees/hours, the billable model,etc. There is a trend of companies depending more on in-house counsel and cutting their outside firms b/c of growing costs. To stay afloat, the firms are going to have to adjust their current models and become more efficient. A process which is typically more "business" or similar to consulting.
As for "substantial" work I think you would get more substantial work in the first few years doing i-banking/consulting than a big law firm.
As for "substantial" work I think you would get more substantial work in the first few years doing i-banking/consulting than a big law firm.
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Re: Difference between law and business careers
One thing I mean to ask is: what is the difference in lifestyle and overall "feel" if you're working for a biglaw firm or you're working for a bank, consultancy or corporation?
I'm thinking that law engages you and utilizes your mind/expertise. I don't have a high opininon or attraction to straight management, which seems to occupy most business careers.
I'm thinking that law engages you and utilizes your mind/expertise. I don't have a high opininon or attraction to straight management, which seems to occupy most business careers.
- sundevil77
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Re: Difference between law and business careers
Law offers more stability. Business requires risk taking. You can make more money in business. A guy I know worked as in-house counsel for a company for quite a while. After a few years he realized all the money to be made was in management. He went back to school, did his MBA, transitioned to the company's management, and makes more $$$.
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- sanpiero
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Re: Difference between law and business careers
BigLaw is Big business. I don't think you are escaping the "Corporate America" feel by working for a BigLaw firm. Law certainly affords you the opportunity to utilize sophisticated writing and oral argument skills. But, an enormous number of BigLaw attorneys are serving the individuals you don't have a very high opinion of.
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Re: Difference between law and business careers
DIfference between i-banking and law?
I-bankers are never jealous of lawyers.
I-bankers are never jealous of lawyers.
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Re: Difference between law and business careers
And as the hotshot attorney working 65 hours/week parks his new BMW in a restaurant parking lot and wonders what the guy in the Bentley parking next to him does for a living - 9 times out of 10 he's in business.Renzo wrote:DIfference between i-banking and law?
I-bankers are never jealous of lawyers.