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SEC or v10 after a clerkship?
Posted: Wed Oct 29, 2014 9:13 pm
by Anonymous User
Six figures in debt from YHS. I have an offer from my summer (v10) firm.
Looking for any insight. Thanks in advance.
Re: SEC or v10 after a clerkship?
Posted: Wed Oct 29, 2014 9:27 pm
by nickelanddime
Enforcement?
Lots of variables here, as you are of course aware. SEC pay scale is quite good, so you won't be hurting even with six figures of debt. From what I can tell, if you go to the SEC, you'll be able to jump ship if you hate it around year 3-4. I've also known of people that have gone from enforcement --> USAO.
If you are in New York, this might be your best shot of getting in to the SEC, or federal government at all. There are tons of people with your resume looking to move to those positions all the time.
Have you worked at the SEC or in government before? Investigations and enforcement actions are extremely slow moving. Some of my friends that have gone to government early in their careers have chafed at that part of it. (Once you get more experienced, you're less at the mercy of your supervisors, who may or may not be biglaw burnouts who leave at 4pm every day - so you would be better able to control your experience. )
Re: SEC or v10 after a clerkship?
Posted: Wed Oct 29, 2014 9:39 pm
by Anonymous User
nickelanddime wrote:Enforcement?
Lots of variables here, as you are of course aware. SEC pay scale is quite good, so you won't be hurting even with six figures of debt. From what I can tell, if you go to the SEC, you'll be able to jump ship if you hate it around year 3-4. I've also known of people that have gone from enforcement --> USAO.
If you are in New York, this might be your best shot of getting in to the SEC, or federal government at all. There are tons of people with your resume looking to move to those positions all the time.
Have you worked at the SEC or in government before? Investigations and enforcement actions are extremely slow moving. Some of my friends that have gone to government early in their careers have chafed at that part of it. (Once you get more experienced, you're less at the mercy of your supervisors, who may or may not be biglaw burnouts who leave at 4pm every day - so you would be better able to control your experience. )
Thanks for the reply. Not enforcement. And I've never worked for the government.
Re: SEC or v10 after a clerkship?
Posted: Wed Oct 29, 2014 10:49 pm
by Anonymous User
Anonymous User wrote:nickelanddime wrote:Enforcement?
Lots of variables here, as you are of course aware. SEC pay scale is quite good, so you won't be hurting even with six figures of debt. From what I can tell, if you go to the SEC, you'll be able to jump ship if you hate it around year 3-4. I've also known of people that have gone from enforcement --> USAO.
If you are in New York, this might be your best shot of getting in to the SEC, or federal government at all. There are tons of people with your resume looking to move to those positions all the time.
Have you worked at the SEC or in government before? Investigations and enforcement actions are extremely slow moving. Some of my friends that have gone to government early in their careers have chafed at that part of it. (Once you get more experienced, you're less at the mercy of your supervisors, who may or may not be biglaw burnouts who leave at 4pm every day - so you would be better able to control your experience. )
Thanks for the reply. Not enforcement. And I've never worked for the government.
Depends on what you want to do in the long run and which V10. You can usually go from V5 -> SEC.
Re: SEC or v10 after a clerkship?
Posted: Wed Oct 29, 2014 10:54 pm
by Anonymous User
Anonymous User wrote:Six figures in debt from YHS. I have an offer from my summer (v10) firm.
Looking for any insight. Thanks in advance.
You should ask the SEC if they still have the student loan repayment program and if they'll offer it to you. If they do, it will basically give you the equivalent of a clerkship bonus at a firm (10k a year for 3 years, which can be renewed until 60k total) so long as you stay there for 3 years. Combined with the generally high SEC salaries, the SEC might not be the financial hit that government jobs can usually be compared to firm jobs.
Re: SEC or v10 after a clerkship?
Posted: Thu Oct 30, 2014 9:09 am
by Anonymous User
not original anon, but in similar shoes.
my choices are v20 corporate practice or SEC. i'd love to hear first-hand info if anyone has it on some of the major divisions. i think i would be most seriously considering enforcement and corporate finance, though i am not looking any gift horses in the proverbial mouth.
Re: SEC or v10 after a clerkship?
Posted: Sat Nov 01, 2014 4:54 pm
by Anonymous User
for those with SEC offers, which divisions? and did you get hired through the SEC Chair Committee program or through direct hire?
Just trying to figure out how many of those honor spots have been taken already. Thanks in advance
Re: SEC or v10 after a clerkship?
Posted: Sat Nov 01, 2014 5:05 pm
by Danteshek
Experience the real world first. If you fail then you can think about rotting away in a government office
Re: SEC or v10 after a clerkship?
Posted: Sat Nov 01, 2014 5:05 pm
by Anonymous User
.
Re: SEC or v10 after a clerkship?
Posted: Wed Nov 05, 2014 12:15 pm
by Anonymous User
Anonymous User wrote:for those with SEC offers, which divisions? and did you get hired through the SEC Chair Committee program or through direct hire?
Just trying to figure out how many of those honor spots have been taken already. Thanks in advance
*Bump*
Re: SEC or v10 after a clerkship?
Posted: Tue Dec 02, 2014 9:10 pm
by Anonymous User
Anonymous User wrote:Anonymous User wrote:for those with SEC offers, which divisions? and did you get hired through the SEC Chair Committee program or through direct hire?
Just trying to figure out how many of those honor spots have been taken already. Thanks in advance
*Bump*
Re: SEC or v10 after a clerkship?
Posted: Tue Dec 02, 2014 9:49 pm
by Anonymous User
I'll just note that it's a lot easier to go SEC->biglaw than it is to go biglaw->SEC. There are a lot more biglaw associates trying to break into federal government than vice versa.
Re: SEC or v10 after a clerkship?
Posted: Tue Dec 02, 2014 10:44 pm
by jbagelboy
Anonymous User wrote:Anonymous User wrote:nickelanddime wrote:Enforcement?
Lots of variables here, as you are of course aware. SEC pay scale is quite good, so you won't be hurting even with six figures of debt. From what I can tell, if you go to the SEC, you'll be able to jump ship if you hate it around year 3-4. I've also known of people that have gone from enforcement --> USAO.
If you are in New York, this might be your best shot of getting in to the SEC, or federal government at all. There are tons of people with your resume looking to move to those positions all the time.
Have you worked at the SEC or in government before? Investigations and enforcement actions are extremely slow moving. Some of my friends that have gone to government early in their careers have chafed at that part of it. (Once you get more experienced, you're less at the mercy of your supervisors, who may or may not be biglaw burnouts who leave at 4pm every day - so you would be better able to control your experience. )
Thanks for the reply. Not enforcement. And I've never worked for the government.
Depends on what you want to do in the long run and
which V10. You can usually go from
V5 -> SEC.
it's silly to draw these distinctions and act as though they make a lick of difference, especially coming off an Art III clerkship.
Re: SEC or v10 after a clerkship?
Posted: Wed Dec 03, 2014 9:12 am
by dixiecupdrinking
Take SEC. It is not easy to get in from biglaw. I would be suspicious of anyone who tells you it is.
Re: SEC or v10 after a clerkship?
Posted: Wed Dec 03, 2014 9:48 am
by seizmaar
their loan forgiveness program will help you out a bunch
Re: SEC or v10 after a clerkship?
Posted: Fri Dec 12, 2014 12:32 am
by Anonymous User
seizmaar wrote:their loan forgiveness program will help you out a bunch
Are entry-level jobs (i.e., jobs through the Honors Program) eligible for that program?
Re: SEC or v10 after a clerkship?
Posted: Fri Dec 12, 2014 12:35 am
by Anonymous User
Anonymous User wrote:seizmaar wrote:their loan forgiveness program will help you out a bunch
Are entry-level jobs (i.e., jobs through the Honors Program) eligible for that program?
Probably not since those are technically two year positions. But when you convert in year 3 you'll be eligible.
Re: SEC or v10 after a clerkship?
Posted: Fri Dec 12, 2014 12:21 pm
by bjohnsobf
loan forgiveness is not loan repayment. Any government employee at any agency is eligible for Public Service Loan Forgiveness 10 years of PAYE payments andd your done no tax bomb. Since PSLF was enacted most agencies don't do loan repayment anymore
Re: SEC or v10 after a clerkship?
Posted: Fri Dec 12, 2014 12:39 pm
by Anonymous User
bjohnsobf wrote:loan forgiveness is not loan repayment. Any government employee at any agency is eligible for Public Service Loan Forgiveness 10 years of PAYE payments andd your done no tax bomb. Since PSLF was enacted most agencies don't do loan repayment anymore
Lots of agencies, especially the financial regulatory ones, still have them though...their primary purpose is to retain employees (keep them from going through the revolving door) rather than actually pay off debt. I think the SEC still does.
Re: SEC or v10 after a clerkship?
Posted: Fri Dec 12, 2014 1:07 pm
by seizmaar
shit, sorry. i should have said loan repayment. i talked to someone at enforcement and they told me they still had the $10k/year repayment plan. that's what i meant.
Re: SEC or v10 after a clerkship?
Posted: Thu Feb 05, 2015 10:44 pm
by Anonymous User
bump
Re: SEC or v10 after a clerkship?
Posted: Tue Feb 17, 2015 9:52 pm
by Anonymous User
Would really appreciate any pieces of advice regarding this decision. I.e., exit options from the SEC/ability to go back to a big firm in 2-3 years/etc.