Page 1 of 1
x
Posted: Sat Jul 17, 2010 11:04 am
by APimpNamedSlickback
x
Re: How Lucrative is Regulatory Law?
Posted: Sat Jul 17, 2010 11:09 am
by Voyager
APimpNamedSlickback wrote:Among the most important things that informed my decision to attend law school was a desire to at some point make lots of money. I say this shamelessly, and am not interested in reading self-righteous screeds about how i'm a terrible person for this and blah blah blah.
Given my priorities and interests, I initially thought I'd be pursuing m&a/capital markets type stuff. However, after having learned a bit about the work that regulatory lawyers do, I am not sure that wouldn't be a more interesting alternative. Advising firms on navigating complex regulatory issues and interpreting agencies' rule making all seems pretty fascinating.
so, like, relative to partners in other practices, are regulatory lawyers well paid? do they generally make less that the average ppp figures for a given firm? what about at a firm with an especially robust regulatory practice? my guess is that the rainmaker types generally tend to be transactional/lit partners, so any insight anyone might have would be helpful.
Go work for an agency and then become a specialist. You'll do well. Quite well. And you'll make partner fast. Just be sure to pick the agencies that involve lots of money: IRS, DOJ Tax division, SEC, etc...
Re: How Lucrative is Regulatory Law?
Posted: Sat Jul 17, 2010 1:49 pm
by 270910
NYC corporate lawyers make more, but regulatory lawyers make bank too. Most of the big names in regulatory / advising / lobbying (because it all runs together past a certain point) are true big law firms that pay market rate or near market rate salaries to their employees. Most companies have a lot of money to drop on making sure that they aren't going to have their skulls cracked open and sucked dry by the IRS, DoJ, SEC, FCC, FDA, ATF(E), CDC, or what have you. You won't be earning a 1% share of a bazillion dollar deal, but you will be making a handsome salary as a lawyer.
Re: How Lucrative is Regulatory Law?
Posted: Sat Jul 17, 2010 1:55 pm
by ak362
disco_barred wrote:NYC corporate lawyers make more, but regulatory lawyers make bank too. Most of the big names in regulatory / advising / lobbying (because it all runs together past a certain point) are true big law firms that pay market rate or near market rate salaries to their employees. Most companies have a lot of money to drop on making sure that they aren't going to have their skulls cracked open and sucked dry by the IRS, DoJ, SEC, FCC, FDA, ATF(E), CDC, or what have you. You won't be earning a 1% share of a bazillion dollar deal, but you will be making a handsome salary as a lawyer.
Disco, what would you consider some of the more prominent lobbying/regulatory firms (I assume they're in D.C...?).
x
Posted: Sat Jul 17, 2010 2:01 pm
by APimpNamedSlickback
x
x
Posted: Sat Jul 17, 2010 2:04 pm
by APimpNamedSlickback
x
Re: How Lucrative is Regulatory Law?
Posted: Sat Jul 17, 2010 2:08 pm
by 270910
Other good regulatory and lobbying firms: Almost every law firm in Washington, D.C. that isn't know for litigation or apellate litigation. Seriously - it's why there are law firms in this city. A&P, Hogan, Skadden DC, you name it. There are also a lot of small boutiquey type firms that specialize in particular areas, often tax.
Lobbying is a different animal, because strictly speaking a law degree isn't necessary to do most forms of lobbying. A lot of lawyers lobby, to be sure, and a lot of law firms with strictly legal practice areas such as litigation also have a lobbying arm. Patton Boggs is a great example - both of a firm that does that, and of a firm that does that extraordinarily well.
And yes, profits per partner are substantially lower in DC than in NYC. PPP in NYC can run the gamut from 2-3 million (and then Wachtell) if I'm recalling correctly, while many DC firms are probably at or under a million dollars.
Still, I mean, a million dollars. Waaaaaah.
