Corporate to Tax Biglaw, Below Median 2L Forum

[Anonymous User]

I'm currently a 2L at a T14 with a biglaw corporate/transactional job lined up for the summer. I took federal tax last semester and really enjoyed it. I'm currently taking corporate tax and similarly enjoying it. The firm I'm going to has a strong corporate practice in its region (non-NYC), and it also has a well regarded but small tax practice. I'd rather practice tax than corporate, given that I find its subject material more interesting and also because I hear that hours in tax are more predictable. I'm wondering how best to position myself to get into tax practice (preferably at the firm I'm going to, though it unfortunately doesn't have a history of hiring junior tax associates) but also at a different firm if necessary. The problem, as I alluded to in my subject heading, is that my grades aren't the best and, for what it's worth, I didn't get an A in federal tax. Will my grades be prohibitive, or do firms look more for interest? Advice would be greatly appreciated.

[jkpolk]

I'm currently a 2L at a T14 with a biglaw corporate/transactional job lined up for the summer. I took federal tax last semester and really enjoyed it. I'm currently taking corporate tax and similarly enjoying it. The firm I'm going to has a strong corporate practice in its region (non-NYC), and it also has a well regarded but small tax practice. I'd rather practice tax than corporate, given that I find its subject material more interesting and also because I hear that hours in tax are more predictable. I'm wondering how best to position myself to get into tax practice (preferably at the firm I'm going to, though it unfortunately doesn't have a history of hiring junior tax associates) but also at a different firm if necessary. The problem, as I alluded to in my subject heading, is that my grades aren't the best and, for what it's worth, I didn't get an A in federal tax. Will my grades be prohibitive, or do firms look more for interest? Advice would be greatly appreciated.

Just say "tax" when they ask you what you want to do. No one cares how you did in Federal Income Tax. That's not what tax lawyers do.

[Anonymous User]

Thanks. This might bleed into a separate topic, but how much will my below-median standing affect 3L OCI, specifically for tax?

[Anonymous User]

Bump different Anon here.

Along the same situation as OP, so I figure we will both benefit from advice here. I'm a t14 student going to a v50 law firm in NYC. Great reputation and strong corporate practice, but a very small tax group (think 4 partners and ~2 associates). If I ask for tax at the firm, which seems like I would be very unlikely to get in, will it affect my career at the firm? I'm worried there is not enough tax work for me.

Even If I do, by some chance, get into the tax group, would my lateral options in the future be stunt because I'm not at a firm known for a very prominent and strong tax practice? I am thinking of doing 3L OCI to try to counter this, but like OP, I have poor below-median grades. Skadden is probably not realistic - what less selective firms should I target? I also find it to be a hard sell to get picked up as a 3L interested in tax, since most of the 3L hiring is done for in demand areas.

[Anonymous User]

Bump different Anon here.

Along the same situation as OP, so I figure we will both benefit from advice here. I'm a t14 student going to a v50 law firm in NYC. Great reputation and strong corporate practice, but a very small tax group (think 4 partners and ~2 associates). If I ask for tax at the firm, which seems like I would be very unlikely to get in, will it affect my career at the firm? I'm worried there is not enough tax work for me.

Even If I do, by some chance, get into the tax group, would my lateral options in the future be stunt because I'm not at a firm known for a very prominent and strong tax practice? I am thinking of doing 3L OCI to try to counter this, but like OP, I have poor below-median grades. Skadden is probably not realistic - what less selective firms should I target? I also find it to be a hard sell to get picked up as a 3L interested in tax, since most of the 3L hiring is done for in demand areas.

I interviewed as a 3L looking only for tax. I probably received fewer looks than I would've if I had said corporate, but I had plenty of interviews at top spots. Your grades will make this very difficult though, if not impossible. The top tax groups tend to be somewhat snobbish in their perceptions of who is intellectually capable for the job (well beyond what I think anyone would see in corporate).

Why do you think there isn't enough work or that you're unlikely to get in? Very few law students ask to do tax, and plenty of people just fall into it at even the top tax firms. Assuming all 6 attorneys are doing federal tax, then that isn't an insanely small group. In terms of normal vault firms, the quality of tax advice is necessarily tied, at least partly, to the strength of the corporate practice. Cravath has really good tax partners and their associates get good experience because they do a lot of very difficult corporate deals. It think the Chambers/Vault tax rankings have more to do with the overall perception of the firms (and maybe the number of tax attorneys) than they do the quality of the tax practice (e.g., I'm skeptical of the fact that Fried Frank and Paul Weiss are Band 2 tax while Steptoe and Ivins are Band 4). They probably largely reflect the deals done, so if your firm has a strong corporate group, the tax group should be at least somewhat well perceived.

Your resume as a transactional attorney will be the deals you've done. If you have a strong corporate practice, you'll be on good deals. Disclaimer - I'm only a junior associate.

[Anonymous User]

I interviewed as a 3L looking only for tax. I probably received fewer looks than I would've if I had said corporate, but I had plenty of interviews at top spots. Your grades will make this very difficult though, if not impossible. The top tax groups tend to be somewhat snobbish in their perceptions of who is intellectually capable for the job (well beyond what I think anyone would see in corporate).

Why do you think there isn't enough work or that you're unlikely to get in? Very few law students ask to do tax, and plenty of people just fall into it at even the top tax firms. Assuming all 6 attorneys are doing federal tax, then that isn't an insanely small group. In terms of normal vault firms, the quality of tax advice is necessarily tied, at least partly, to the strength of the corporate practice. Cravath has really good tax partners and their associates get good experience because they do a lot of very difficult corporate deals. It think the Chambers/Vault tax rankings have more to do with the overall perception of the firms (and maybe the number of tax attorneys) than they do the quality of the tax practice (e.g., I'm skeptical of the fact that Fried Frank and Paul Weiss are Band 2 tax while Steptoe and Ivins are Band 4). They probably largely reflect the deals done, so if your firm has a strong corporate group, the tax group should be at least somewhat well perceived.

Your resume as a transactional attorney will be the deals you've done. If you have a strong corporate practice, you'll be on good deals. Disclaimer - I'm only a junior associate.

I'm at a firm that does specialy work mostly and is the band 1 leader in one area; i.e. think proj finance, lev fin, or IP, etc. This is why I am worried that the tax group won't be as strong at the firm. I will certainly try to do some tax work while there for the summer, but am also looking ahead in case I do not get into tax. Also, I feel like 3L OCI will hurt me because I am not taking corp or partnership tax until fall. I've only taken income tax so far.