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I'm a 3rd yr M&A/corporate associate at a V100 in secondary market and I have a major case of imposter syndrome today.

It just hit me that I've earned $500,000 (gross) in the last two and a half years doing 80% paralegal bullshit -- drafting basic incorporation documents, simple due diligence, redlining/printing documents, entering handwritten comments, assembling sig pages. I'm starting to get worried that I'm not getting enough substantive experience (I've never drafted a purchase agreement or run my own deal), but at the same time I sort of don't care because I have no desire to make partner and I'm unabashedly just in it for the paycheck. I'm the only person left in my class (everyone else my year in this group lateraled away due to lack of meaningful work).

My hours are okay. I billed 2000 last year but only 1400 my first year. Not sure if I can hit 2000 this year (super slow April), but don't think I'm in significant danger of getting canned right now. If I can just chill for another year I'd be in good shape because I save a lot (currently at 120K net worth after starting out at -90K).

Just wondering whether it would be crazy for me to stay and coast rather than try to lateral now to a better firm. I have tried to lateral; sent out maybe 20-30 apps to peer firms over the last couple years but I have gotten only two phone screeners (is this unusual?). I was median at a T14 but I do have a very ethnic name. So I feel like my options are limited.

My vague goal is to go in-house in a year or two. Some random 9-to-5 counsel position paying low to mid 100K should be fine. FWIW, I turned down an offer for a $160K in-house gig 6 months ago because I was greedy and didn't want a paycut, but now I'm kicking myself since I don't feel like I'm progressing here.

Any advice appreciated.

You defintely made a mistake not taking that in house job. Can you crawl back and ask them if they need a counsel?

I don't think you count as a "midlevel" yet. I thought fifth years and above up to maybe seventh years are midlevels. At my firm, only fifth years and above can review juniors.

Anonymous User wrote:I don't think you count as a "midlevel" yet. I thought fifth years and above up to maybe seventh years are midlevels. At my firm, only fifth years and above can review juniors.

that seems weird. my firm is 1/2 = junior, 3/4 = mid, 5+ = senior

We use junior for 1-3, mid for 4-5, senior for 6+. It goes to show there's not a lot of consensus about what these terms mean.

this can be painful, but I would recommend trying to quarterback a smaller-sized deal at this stage. early in my third year, I had a chance to lead a few mid-market PE deals that were probably the most formative training I've received as a transactional attorney. going through the exercise will make you more sophisticated, and will probably make you more marketable if you're looking for an out. it will not be fun, however-- this I promise.

You're not a midlevel. In what world is someone whos worked 2.5 years as an attorney a midlevel. You are the definition of a junior associate. You got incredibly lucky by getting a $160k in-house job as a second year, you probably should've taken it (but there is an advantage to going in-house as a midlevel or senior so your decision has some merit as well), though I assume you have the chops to land something similar again in the future. Sounds like at your firm you can just cruise, I would just keep cruising and looking for in-house jobs on the side. I don't see much value in lateraling to a more prestigious firm at this point unless you think it's going to dramatically help your in-house chances (and since you already landed an offer once, clearly your firm name is not a problem).

Since when was a third year a midlevel? Third years generally don't know shit. Even an experienced paralegal is worth more than a third year.

OP - you said you just want to take the paycheck and cruise until you save enough to basically bail out of biglaw. That is an absolutely honorable goal and one that I'd encourage to all my friends. Law generally sucks donkeyball but law for low pay sucks two donkeyballs. I say if you really want to learn the trade, then yeah maybe lateral but who's to say the biglaw across your building is going to be any better? Definitely do your research first before you jump ship.

At my biglaw firm I don't think corporate third years have typically drafted a purchase agreement before, or really even dealt with one other than turning comments. It's always surprising me to me that companies regularly make in-house offers to first and second years.

I honestly don't think you're that far behind the curve, if at all. In the next 2-3 years, you should start taking over the deal. One thing I'll say is that you'll get there faster if you have a dedicated work stream with people that trust you. Try to keep working with the same people, do good work, and keep asking/volunteering to do more.