How valuable is generalist biglaw training? Forum

[Anonymous User]

Hi all, I'm curious at what generalist biglaw is like and if you get any exposure to different industries?

I'm a 2L with a summer firm gig lined up and I have no idea what I want to do in the future regarding industry. Right now I'm interested in getting the best possible training and industry exposure possible so I can choose and try to start career building. I have a competitive profile for healthcare IB/consulting/F500 but not confident in getting generalist programs. Hence, I'm curious whether working as a corporate associate in a law firm gives wide industry exposure/good training for understanding deal mechanics or whether working at a mid-sized bank/consulting firm in a specific group would give me better experience.

Sidenote, no FT work experience.

[Anonymous User]

Well, what do you want to do in the future? If you want to "do deals", then go and work for a bank. The lawyers working on deals are just doing the paperwork. You can move inhouse to a bank later on, but you would still probably be on the legal side, not actually negotiating the deals.

[Gatriel]

Well, what do you want to do in the future? If you want to "do deals", then go and work for a bank. The lawyers working on deals are just doing the paperwork. You can move inhouse to a bank later on, but you would still probably be on the legal side, not actually negotiating the deals.

I don't know what market you are in ... my market all the big banks (GS, MS, BAML, Citi, JPM, etc., etc.,) only hire their execution teams from biglawl after secondment.

[Anonymous User]

Hi all, I'm curious at what generalist biglaw is like and if you get any exposure to different industries?

I'm a 2L with a summer firm gig lined up and I have no idea what I want to do in the future regarding industry. Right now I'm interested in getting the best possible training and industry exposure possible so I can choose and try to start career building. I have a competitive profile for healthcare IB/consulting/F500 but not confident in getting generalist programs. Hence, I'm curious whether working as a corporate associate in a law firm gives wide industry exposure/good training for understanding deal mechanics or whether working at a mid-sized bank/consulting firm in a specific group would give me better experience.

Sidenote, no FT work experience.

No snark intended, but how do you have a competitive profile for IB/consulting/F500 if you have no FT work experience?

[Anonymous User]

Hi all, I'm curious at what generalist biglaw is like and if you get any exposure to different industries?

I'm a 2L with a summer firm gig lined up and I have no idea what I want to do in the future regarding industry. Right now I'm interested in getting the best possible training and industry exposure possible so I can choose and try to start career building. I have a competitive profile for healthcare IB/consulting/F500 but not confident in getting generalist programs. Hence, I'm curious whether working as a corporate associate in a law firm gives wide industry exposure/good training for understanding deal mechanics or whether working at a mid-sized bank/consulting firm in a specific group would give me better experience.

Sidenote, no FT work experience.

No snark intended, but how do you have a competitive profile for HEALTHCARE IB/consulting/F500 if you have no FT work experience?

I worked in corporate strategy for a late stage healthcare startup all of 1L and worked in an MBA M&A gig for a F500 healthcare company 1L summer and all of 2L year so far. I also have good grades, really good test scores, strong finance creds, and I'll be applying to a mix of analyst and associate roles. Not a lock but I'll have an interesting profile for healthcare focused shops.

[Anonymous User]

Well, what do you want to do in the future? If you want to "do deals", then go and work for a bank. The lawyers working on deals are just doing the paperwork. You can move inhouse to a bank later on, but you would still probably be on the legal side, not actually negotiating the deals.

Realistically I could see myself enjoying an operational role in the future or a dealmaking function. I'm not super excited for legal work but if there is good generalist training I could see myself staying for 3 or 4 years.

[lawlorbust]

Well, what do you want to do in the future? If you want to "do deals", then go and work for a bank. The lawyers working on deals are just doing the paperwork. You can move inhouse to a bank later on, but you would still probably be on the legal side, not actually negotiating the deals.

Realistically I could see myself enjoying an operational role in the future or a dealmaking function. I'm not super excited for legal work but if there is good generalist training I could see myself staying for 3 or 4 years.

Lol then don't go to a law firm. Every IB/MBB ex-biglaw refugee I've spoken to has straight up told me that they had to reset their seniority when they switched.

[nonsharepartner]

It is strange the number of people who go to law school and say they are not excited about the legal work but could be deal makers. Why did you go to law school and not business school. Banks think of people with law degrees as lawyers or compliance people, not analysts or associates.

[Anonymous User]

It is strange the number of people who go to law school and say they are not excited about the legal work but could be deal makers. Why did you go to law school and not business school. Banks think of people with law degrees as lawyers or compliance people, not analysts or associates.

No other real options. 2.5 in undergrad.

[Anonymous User]

A 2.5? If you are the OP, I can tell you that despite your WE, you will not be competitive for IB or MBB consulting. Sorry.

I can say this because I am one the few people on these boards who did IB and then went to law school.

As to the question re generalist training in a corporate group, this really depends on the firm and the group. There's no one answer. If you work at Cravath and do a rotation or two, you can probably get a job pretty much anywhere. If you work in, say, Chicago in a generalist corporate job, not sure. But smart people generally interview well and if you have decent credentials (which, sorry, includes GPA--consulting firms especially are GPA whores, and they often ask for your SAT scores, so recent success doesn't fully discount past mediocrity), then you might do OK.

[Anonymous User]

Bump. Still curious.

[Anonymous User]

A 2.5? If you are the OP, I can tell you that despite your WE, you will not be competitive for IB or MBB consulting. Sorry.

I can say this because I am one the few people on these boards who did IB and then went to law school.

As to the question re generalist training in a corporate group, this really depends on the firm and the group. There's no one answer. If you work at Cravath and do a rotation or two, you can probably get a job pretty much anywhere. If you work in, say, Chicago in a generalist corporate job, not sure. But smart people generally interview well and if you have decent credentials (which, sorry, includes GPA--consulting firms especially are GPA whores, and they often ask for your SAT scores, so recent success doesn't fully discount past mediocrity), then you might do OK.

I understand its a difficulty but as long as Taleo isn't involved, I usually am fine once I get into interviews.

[Foghornleghorn]

You are an automatic ding from MBB. Period. But, you might have a shot at a healthcare specific practice somewhere else (Deloitte, KPMG etc.). Be aware that your starting salary will be much lower.

[Anonymous User]

You are an automatic ding from MBB. Period. But, you might have a shot at a healthcare specific practice somewhere else (Deloitte, KPMG etc.). Be aware that your starting salary will be much lower.

Yeah I'm more interested in getting training since I think I'll probably want to end up moving into a large company eventually. The money isn't really an issue right now since I'll be super close to debt free.

On a side note for anyone with a shit gpa reading this, I actually got to second rounds with one of MBB after they had seen my gpa before I withdrew everywhere for a pre-OCI offer. It does not torpedo your app. I did not however get interviews with any of the bulge brackets that interviewed law students.

[Anonymous User]

Bump.