Securities & Exchange Commission Forum

[ck3]

Does the SEC hire attorneys directly out of law school or will I need firm experience before applying?

[Danteshek]

SEC has Advance Commitment. Intern there first, if you can.

[blackacre]

I know I can look this up but... how do you intern there? what do they normally look for? (aside from grades, specific courses, UG work in finance, etc)

[Danteshek]

Relevant work experience. Evidence that you're knowledgable about the securities industry. CPA/CFA/MBA. Law school grades. Demonstrated commitment to public service. Motivation. The student observer program is much less competitive than the paid summer honors program. Being in DC is better than being in a branch office.

[Renzo]

Top school, top grades, econ/finance background, and a lot of luck will get you in.

[Danteshek]

Um, they really don't care that much where you went to school. Like DOJ Honors in that respect.

[Renzo]

Um, they really don't care that much where you went to school.

That might be true, my point was that it's competitive. I know a few really qualified T10 students who were well qualified and couldn't get a summer honors slot.

[Danteshek]

The SEC is a different animal than DOJ. Virtually any law student with good grades is "qualified" for an Honors spot at DOJ. Not so at SEC. Very few law students around the country have the combination of knowledge, grades and experience that will get you in the door at the SEC.

[Anonymous User]

I know a bucn of people who work there who went to nyls

[Anonymous User]

The SEC is a different animal than DOJ. Virtually any law student with good grades is "qualified" for an Honors spot at DOJ. Not so at SEC. Very few law students around the country have the combination of knowledge, grades and experience that will get you in the door at the SEC.

I don't think this is entirely true. I got in with no finance or business related background. the interview went very well though.

[Danteshek]

What division/office are you in? Under what program?

[Renzo]

What division/office are you in? Under what program?

[Anonymous User]

I'm a 0L and my dads friend told him to tell me that I have an internship at the SEC offices in my city (big important city but not DC/NY) for next summer if I want it. I really don't know anything about this but it seems to be a great opportunity. Are all SEC gigs great or is it just the ones at the headquarters?

[Danteshek]

I'm a 0L and my dads friend told him to tell me that I have an internship at the SEC offices in my city (big important city but not DC/NY) for next summer if I want it. I really don't know anything about this but it seems to be a great opportunity. Are all SEC gigs great or is it just the ones at the headquarters?

The branch offices are strictly enforcement. The more interesting issues get decided in DC.

[Anonymous User]

I'm a 0L and my dads friend told him to tell me that I have an internship at the SEC offices in my city (big important city but not DC/NY) for next summer if I want it. I really don't know anything about this but it seems to be a great opportunity. Are all SEC gigs great or is it just the ones at the headquarters?

The branch offices are strictly enforcement. The more interesting issues get decided in DC.

Would this be a good 1L summer internship for someone wanting corporate biglaw? Or am I better off looking for something else?

[Danteshek]

You're better off somewhere else. Probably a big law firm, assuming that's where you want to work.

[Kochel]

I'd have thought that Biglaw firms would like a 1L summer internship on a resume. Biglaw historically has loved to hire former SEC lawyers as laterals. Also, I think that everyone, including Biglaw recruiters, recognizes that 1Ls ITE realistically can't get summer jobs with corporate firms.

[Danteshek]

I'd have thought that Biglaw firms would like a 1L summer internship on a resume. Biglaw historically has loved to hire former SEC lawyers as laterals. Also, I think that everyone, including Biglaw recruiters, recognizes that 1Ls ITE realistically can't get summer jobs with corporate firms.

Possibly. But you'll have to do a damn good job masking your real motive for wanting to work at the SEC. They'll see right through you.

Also, it's probably harder to get the internship than a job in a corporate firm.

[Kochel]

I'd have thought that Biglaw firms would like a 1L summer internship on a resume. Biglaw historically has loved to hire former SEC lawyers as laterals. Also, I think that everyone, including Biglaw recruiters, recognizes that 1Ls ITE realistically can't get summer jobs with corporate firms.

Possibly. But you'll have to do a damn good job masking your real motive for wanting to work at the SEC. They'll see right through you.

Also, it's probably harder to get the internship than a job in a corporate firm.

Fair points. (Though 1Ls' resumes are typically blank slates that don't require much masking.) But I thought the question was whether SEC work was good for someone looking for Biglaw, not whether a Biglaw motive was good for someone applying to the SEC.

The bigger question in my mind, as a practitioner, is why the SEC should be hiring freshly-minted lawyers in the first case.

[Danteshek]

Well, the 1Ls (and attorneys) the SEC actually hires for the most part have relevant experience. As far as I know I'm the only 1L on TLS to get the honors internship in DC this summer, and I have almost 4 years of work experience in finance (asset management). I also have two CFA exams under my belt. And btw, I'm at a T3 law school on the west coast.

[Kochel]

Well, the 1Ls (and attorneys) the SEC actually hires for the most part have relevant experience. As far as I know I'm the only 1L on TLS to get the honors internship in DC this summer, and I have almost 4 years of work experience in finance (asset management). I also have two CFA exams under my belt. And btw, I'm at a T3 law school on the west coast.

Didn't mean it personally. You're better qualified than I was for Biglaw when I graduated ages ago. But in my dealings with the SEC over the years it's been rare to come across a staff attorney who really seems to understand the practicalities involved in complying with regulation (or, in SEC speak, "appearing and practicing before the Commission").

Good luck!

[Danteshek]

Thanks. I think the SEC is more focused now on getting people who understand as much as possible about the real world. It's a fine line to walk though. They can't appear too cozy with regulated entities.

My first choice is to work for the SEC when I graduate. I really love the idea of working for an agency with such a strong mandate for reform. I also think they need people who are not going to be seduced by job offers from banks and law firms. I don't think I'll even try for big law, mostly because I don't think I'll get a fair shake coming out a third tier law school, despite stellar grades. If I decide I don't want to be an SEC lifer, I can always go to big law or in house later in my career, when people won't be so fixated on where I got my degree.

[fortissimo]

Top school, top grades, econ/finance background, and a lot of luck will get you in.

Bingo.

I know someone who interned there at my school and then eventually landed multiple biglaw offers this past OCI in the most competitive market (DC), but this person had top 15% grades. I don't think this person has an econ/finance background though, but this person compensated with other WE and good grades.