So. I start a biglaw job in NY very soon. Recently, I was informed that I was being assigned to the general transactional pool -- instead of lit, which I was offered. Needs of the clients, needs of the firm, etc. This post isn't about my simmering frustration with the obstacle this poses to my long-term career goals.
Instead, it's a practical plea for help. I have basically zero idea what the hell transactional associates do. I avoided the work like the plague during my SA, didn't take classes relevant to it in law school, and am now concerned that I'm going to be a fish flopping on the deck when I start work. Can anyone suggest some resources for trying to get myself up to speed so I don't embarrass myself when I get to the firm? What should I be reading? What do I NOT know that I probably SHOULD know if I want to be able to have intelligent conversations about my work with my peers and superiors (or just understand wtf I'm doing)? What's the day 0 shit that I haven't even bothered to learn I don't know?
WTF Does a Junior Transactional Associate Need to Know? Forum
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Anonymous User
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legends159
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Re: WTF Does a Junior Transactional Associate Need to Know?
No one knows anything going in - you're trained on the job and most of the stuff you do in the beginning is so simple you'll wonder why you ever went to law school (or college for that matter).
If you feel you must prep - read E&E on corporate law and securities law - those are pretty basic stuff that will help you put what you're doing in a little more context. If you're in a pinch, MoFo has some really good FAQs on securities law and Wachtell has a good M&A guidebook - you can google them fairly easily.
Anything you don't understand - just ask; don't worry about looking stupid. Or jot it down and google it later or on investopedia.com.
You'll be fine.
Final word of advice - if anyone asks you to draft anything, your first question should be if there's a precedent or example you can use to work off of or at least get a sense of style. Then just CTRL+F and Replace.
If you feel you must prep - read E&E on corporate law and securities law - those are pretty basic stuff that will help you put what you're doing in a little more context. If you're in a pinch, MoFo has some really good FAQs on securities law and Wachtell has a good M&A guidebook - you can google them fairly easily.
Anything you don't understand - just ask; don't worry about looking stupid. Or jot it down and google it later or on investopedia.com.
You'll be fine.
Final word of advice - if anyone asks you to draft anything, your first question should be if there's a precedent or example you can use to work off of or at least get a sense of style. Then just CTRL+F and Replace.
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DiliGents
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Re: WTF Does a Junior Transactional Associate Need to Know?
This should absolutely be your first question. Practical Law Company (PLC) is a great resource for explaining what docs/provisions mean in the larger context of the deal.legends159 wrote:Final word of advice - if anyone asks you to draft anything, your first question should be if there's a precedent or example you can use to work off of or at least get a sense of style. Then just CTRL+F and Replace.
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Anonymous User
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Re: WTF Does a Junior Transactional Associate Need to Know?
Anybody have course recommendations to take to be ready for a SA gig, doing corporate transactional work?
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BenJ
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Re: WTF Does a Junior Transactional Associate Need to Know?
There is no course that is particularly useful.Anonymous User wrote:Anybody have course recommendations to take to be ready for a SA gig, doing corporate transactional work?
Last edited by BenJ on Wed Aug 19, 2015 11:15 am, edited 1 time in total.
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legends159
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Re: WTF Does a Junior Transactional Associate Need to Know?
Useful courses: corporations, securities, corporate tax, finance/bankruptcy. Totally not necessary though - no one expects a SA to know anything of substance.
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JamMasterJ
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Re: WTF Does a Junior Transactional Associate Need to Know?
corporations and accounting. the latter helps you comb through 10Ks and shit faster
