Lateral to non-market paying firm in dream location? Forum

[Anonymous User]

I’ve been trying to move to a secondary market city for over almost two years (wanted to move there since law school). I’m currently at a market-paying firm and the firm I’m looking into is below market.

I’m still fairly junior (2nd year) and I think that it’ll probably be easier to lateral within markets if I choose to leave after a few years (the salary compression gets very bad after 4th year).

Is it stupid to do this? Should I just wait for a market-paying firm?

[Anonymous User]

I did this as a junior associate and regretted it big time. In fact, I ended up moving back to a major market and am back on Cravath.

I would not move unless you get market OR you have paid off all student debt and have a nest egg of at least $100,000.

[Anonymous User]

I did this as a junior associate and regretted it big time. In fact, I ended up moving back to a major market and am back on Cravath.

I would not move unless you get market OR you have paid off all student debt and have a nest egg of at least $100,000.

I should clarify that it isn’t really a secondary market (not sure why I said that). It’s more a Philly/Boston/Dallas kind of market where there are many many market-paying firms but the market is somewhat difficult to break into.

[Anonymous User]

I did this as a junior associate and regretted it big time. In fact, I ended up moving back to a major market and am back on Cravath.

I would not move unless you get market OR you have paid off all student debt and have a nest egg of at least $100,000.

I think that's an absurd line to draw for a lot of people, having all debt paid off and a 100k nest egg.

OP, if you can find a job that still allows you to live comfortably and save/pay off loans, and you'll be happier in the dream location, go for it.

[Anonymous User]

I did this as a junior associate and regretted it big time. In fact, I ended up moving back to a major market and am back on Cravath.

I would not move unless you get market OR you have paid off all student debt and have a nest egg of at least $100,000.

I should clarify that it isn’t really a secondary market (not sure why I said that). It’s more a Philly/Boston/Dallas kind of market where there are many many market-paying firms but the market is somewhat difficult to break into.

I can’t speak to the other markets, but I highly recommend against going to a non-market paying firm in Dallas. There are so many Cravath scale firms in town that it’s just not worth going to a lower-paying firm.

[Anonymous User]

I did this as a junior associate and regretted it big time. In fact, I ended up moving back to a major market and am back on Cravath.

I would not move unless you get market OR you have paid off all student debt and have a nest egg of at least $100,000.

I should clarify that it isn’t really a secondary market (not sure why I said that). It’s more a Philly/Boston/Dallas kind of market where there are many many market-paying firms but the market is somewhat difficult to break into.

I can’t speak to the other markets, but I highly recommend against going to a non-market paying firm in Dallas. There are so many Cravath scale firms in town that it’s just not worth going to a lower-paying firm.

I get the sentiment, but it’s been extremely difficult interviewing and having to fly 5 hours each way to an interview (and creating excuses so my current firm doesn’t fire me). I’ve been looking for nearly 2 years and this is the only offer I’ve received.

That’s why I’m wondering if it’s better to just take the non-market paying firm, stay there until the gap gets too large to justify (probably 3 years), then lateral to a market firm.

FWIW, the non-market firm has an 1800 billable hour requirement (unlimited pro bono), which is nice. Most non-NY offices/firms seem to have a 2000 billable requirement.

[Anonymous User]

I did this as a junior associate and regretted it big time. In fact, I ended up moving back to a major market and am back on Cravath.

I would not move unless you get market OR you have paid off all student debt and have a nest egg of at least $100,000.

I should clarify that it isn’t really a secondary market (not sure why I said that). It’s more a Philly/Boston/Dallas kind of market where there are many many market-paying firms but the market is somewhat difficult to break into.

I can’t speak to the other markets, but I highly recommend against going to a non-market paying firm in Dallas. There are so many Cravath scale firms in town that it’s just not worth going to a lower-paying firm.

I get the sentiment, but it’s been extremely difficult interviewing and having to fly 5 hours each way to an interview (and creating excuses so my current firm doesn’t fire me). I’ve been looking for nearly 2 years and this is the only offer I’ve received.

That’s why I’m wondering if it’s better to just take the non-market paying firm, stay there until the gap gets too large to justify (probably 3 years), then lateral to a market firm.

FWIW, the non-market firm has an 1800 billable hour requirement (unlimited pro bono), which is nice. Most non-NY offices/firms seem to have a 2000 billable requirement.

It will not be easy to Lateral from below-market to a market firm. What firm are you looking at? Is this a Jackson Walker type firm?

[Anonymous User]

I did this as a junior associate and regretted it big time. In fact, I ended up moving back to a major market and am back on Cravath.

I would not move unless you get market OR you have paid off all student debt and have a nest egg of at least $100,000.

I should clarify that it isn’t really a secondary market (not sure why I said that). It’s more a Philly/Boston/Dallas kind of market where there are many many market-paying firms but the market is somewhat difficult to break into.

I can’t speak to the other markets, but I highly recommend against going to a non-market paying firm in Dallas. There are so many Cravath scale firms in town that it’s just not worth going to a lower-paying firm.

I get the sentiment, but it’s been extremely difficult interviewing and having to fly 5 hours each way to an interview (and creating excuses so my current firm doesn’t fire me). I’ve been looking for nearly 2 years and this is the only offer I’ve received.

That’s why I’m wondering if it’s better to just take the non-market paying firm, stay there until the gap gets too large to justify (probably 3 years), then lateral to a market firm.

FWIW, the non-market firm has an 1800 billable hour requirement (unlimited pro bono), which is nice. Most non-NY offices/firms seem to have a 2000 billable requirement.

It will not be easy to Lateral from below-market to a market firm. What firm are you looking at? Is this a Jackson Walker type firm?

It’s more of a Goulston Storrs kind of firm. I’m doing healthcare, which is very specialized, so I don’t know if it will be as difficult to lateral later on. Obviously not ideal, but leaning towards taking it.

[Anonymous User]

I did this as a junior associate and regretted it big time. In fact, I ended up moving back to a major market and am back on Cravath.

I would not move unless you get market OR you have paid off all student debt and have a nest egg of at least $100,000.

I should clarify that it isn’t really a secondary market (not sure why I said that). It’s more a Philly/Boston/Dallas kind of market where there are many many market-paying firms but the market is somewhat difficult to break into.

I can’t speak to the other markets, but I highly recommend against going to a non-market paying firm in Dallas. There are so many Cravath scale firms in town that it’s just not worth going to a lower-paying firm.

I get the sentiment, but it’s been extremely difficult interviewing and having to fly 5 hours each way to an interview (and creating excuses so my current firm doesn’t fire me). I’ve been looking for nearly 2 years and this is the only offer I’ve received.

That’s why I’m wondering if it’s better to just take the non-market paying firm, stay there until the gap gets too large to justify (probably 3 years), then lateral to a market firm.

FWIW, the non-market firm has an 1800 billable hour requirement (unlimited pro bono), which is nice. Most non-NY offices/firms seem to have a 2000 billable requirement.

It will not be easy to Lateral from below-market to a market firm. What firm are you looking at? Is this a Jackson Walker type firm?

It’s more of a Goulston Storrs kind of firm. I’m doing healthcare, which is very specialized, so I don’t know if it will be as difficult to lateral later on. Obviously not ideal, but leaning towards taking it.

This is the rough equivalent of a 0L going to a T2 with the goal of transferring to a T14. Sure, it’s possible, but it’s far from a guarantee and largely beyond your control. I’d only take this job if you’re comfortable staying at the below-market firm.

[Anonymous User]

I did this as a junior associate and regretted it big time. In fact, I ended up moving back to a major market and am back on Cravath.

I would not move unless you get market OR you have paid off all student debt and have a nest egg of at least $100,000.

I should clarify that it isn’t really a secondary market (not sure why I said that). It’s more a Philly/Boston/Dallas kind of market where there are many many market-paying firms but the market is somewhat difficult to break into.

I can’t speak to the other markets, but I highly recommend against going to a non-market paying firm in Dallas. There are so many Cravath scale firms in town that it’s just not worth going to a lower-paying firm.

I get the sentiment, but it’s been extremely difficult interviewing and having to fly 5 hours each way to an interview (and creating excuses so my current firm doesn’t fire me). I’ve been looking for nearly 2 years and this is the only offer I’ve received.

That’s why I’m wondering if it’s better to just take the non-market paying firm, stay there until the gap gets too large to justify (probably 3 years), then lateral to a market firm.

FWIW, the non-market firm has an 1800 billable hour requirement (unlimited pro bono), which is nice. Most non-NY offices/firms seem to have a 2000 billable requirement.

It will not be easy to Lateral from below-market to a market firm. What firm are you looking at? Is this a Jackson Walker type firm?

It’s more of a Goulston Storrs kind of firm. I’m doing healthcare, which is very specialized, so I don’t know if it will be as difficult to lateral later on. Obviously not ideal, but leaning towards taking it.

This is the rough equivalent of a 0L going to a T2 with the goal of transferring to a T14. Sure, it’s possible, but it’s far from a guarantee and largely beyond your control. I’d only take this job if you’re comfortable staying at the below-market firm.

I mean, I am. I’m at a market paying firm in NY now and I’d rather leave. Obviously making market is great, but I don’t think I’ll ever make partner, so going to a below market firm with more reasonable hours with the chance of lasting a bit longer may be a better option.

I’m going to try to see if any other firms are hiring before definitely accepting the offer, but like I mentioned before, it’s been two years and this is all I could get.

[JohnnieSockran]

I did this as a junior associate and regretted it big time. In fact, I ended up moving back to a major market and am back on Cravath.

I would not move unless you get market OR you have paid off all student debt and have a nest egg of at least $100,000.

I should clarify that it isn’t really a secondary market (not sure why I said that). It’s more a Philly/Boston/Dallas kind of market where there are many many market-paying firms but the market is somewhat difficult to break into.

Just to note, Philly really isn't on par with Dallas in terms of number of market paying firms. AFAIK, there are only 2 Cravath firms in Philly: Morgan Lewis and Dechert.

I agree with people above though that lateralling to a market-paying firm may be tougher than you estimate from a smaller firm with a lower billable requirement, so you should be comfortable with staying there even if the salary is compressed before you decide to accept this offer.

[JohnnieSockran]

I mean, I am. I’m at a market paying firm in NY now and I’d rather leave. Obviously making market is great, but I don’t think I’ll ever make partner, so going to a below market firm with more reasonable hours with the chance of lasting a bit longer may be a better option.

I’m going to try to see if any other firms are hiring before definitely accepting the offer, but like I mentioned before, it’s been two years and this is all I could get.

I'd also keep in mind that if you're only a 2nd year, you're still not that marketable yet. It might be much easier to lateral to this market (which presumably has smaller office sizes and needs more midlevels than juniors) once you're a 3rd-5th year.

[Anonymous User]

I mean, I am. I’m at a market paying firm in NY now and I’d rather leave. Obviously making market is great, but I don’t think I’ll ever make partner, so going to a below market firm with more reasonable hours with the chance of lasting a bit longer may be a better option.

I’m going to try to see if any other firms are hiring before definitely accepting the offer, but like I mentioned before, it’s been two years and this is all I could get.

I'd also keep in mind that if you're only a 2nd year, you're still not that marketable yet. It might be much easier to lateral to this market (which presumably has smaller office sizes and needs more midlevels than juniors) once you're a 3rd-5th year.

That’s true. But I just feel like it may be easier to lateral within the city if at all possible. I don’t think the salary as compressed as some other places (I think it ranges from 180k - 290k), so I would be fine staying there.