Big Opportunity Outside Law - WWYD? Forum

Anonymous User · Post by **Anonymous User** » Thu Mar 17, 2016 9:06 am

3rd year litigation associate at an Amlaw 200 in a small market. I like my job, and I feel like I'm well compensated for the market. I would probably have to go to another smaller firm to make partner. I'm not a die hard, law only type and would consider myself very business minded.

My dad and brother own a very successful company that does about $50m in revenue, with very good growth potential. My dad is ready to retire, so my bro is trying to figure out how to buy him out. My bro has offered me to join him after my dad leaves. I'm sure my job would involve the law on some level, but I wouldn't be purely a general counsel or anything like that. Our family dynamic is as good as it gets.

Pros:
More long term earning potential
Still get to use my (albeit little) legal skills I've gained
No billables!

Cons:
Giving up stable income
Possible waste of T-14 education/tuition/3 yrs

What do y'all think? What else do I need to think about?

mvp99 · Post by **mvp99** » Thu Mar 17, 2016 9:53 am

is the company profitable? is it in construction?

Danger Zone · Post by **Danger Zone** » Thu Mar 17, 2016 10:17 am

Pull the trigger. Law sucks. Successful people build something. Start building now.

Anonymous User · Post by **Anonymous User** » Thu Mar 17, 2016 10:35 am

mvp99 wrote:is the company profitable? is it in construction?

Ya it's profitable. My dad has pulled 7 figures in good years. It's not construction, but it is tied to the construction industry.

Aeon · Post by **Aeon** » Fri Mar 18, 2016 12:48 am

In law, your income is limited to the billable hours you can generate. In business, there is no such cap.

I would guess that you grew up hearing about your father's business and are quite familiar with it already. Your relationship with your family is good, and you could bring some amount of useful expertise with your legal background and experience. I say: go for it.

TheHill5 · Post by **TheHill5** » Fri Mar 18, 2016 7:54 am

I would give almost anything to be given that opportunity. Tell your brother to PM me if you do not want to go work for the family company.

RaceJudicata · Post by **RaceJudicata** » Fri Mar 18, 2016 9:56 am

Does this decision have to be made in the immediate future? Or could you make it clear to your dad/brother that you have every intention of joining the family business, while also cutting back your lifestyle and stacking cash from your firm salary. Make the transition over the next 12-24 months, while also minimizing the risk of losing out on a stable salary.

Huluba · Post by **Huluba** » Fri Mar 18, 2016 10:19 am

RaceJudicata wrote:Does this decision have to be made in the immediate future? Or could you make it clear to your dad/brother that you have every intention of joining the family business, while also cutting back your lifestyle and stacking cash from your firm salary. Make the transition over the next 12-24 months, while also minimizing the risk of losing out on a stable salary.

If you consider yourself to be a "business-minded person", stop being so risk averse. Its not like the business is starting from scratch. Go join the business, keep the business in the family, do NOT let an outsider get involved before you do.

Big Opportunity Outside Law - WWYD? Forum

Big Opportunity Outside Law - WWYD?

Re: Big Opportunity Outside Law - WWYD?

Re: Big Opportunity Outside Law - WWYD?

Re: Big Opportunity Outside Law - WWYD?

Re: Big Opportunity Outside Law - WWYD?

Register now to search topics and post comments!

Re: Big Opportunity Outside Law - WWYD?

Re: Big Opportunity Outside Law - WWYD?

Re: Big Opportunity Outside Law - WWYD?

Register for access!