Executive Compensation / Employee Benefits Forum
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Anonymous User
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Executive Compensation / Employee Benefits
Does anyone here have experience working in an NYC Exec. Comp. / Employee benefits practice group? I have noticed there is remarkably little information on such practice group here and was wondering if anyone could give description of their "average" day, work life balance, times of matters worked on, etc.
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Anonymous User
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Re: Executive Compensation / Employee Benefits
This differs a lot from firm to firm. Some firms are strictly exec comp firms and others have a wide array of work (including general employment). Some are deal focused, while others are not.
My firm’s NY office is strictly exec comp. We call the team EBEC, but I don’t think we do any ERISA at all (outside of one person in a satellite). I think one partner may advise on prohibited transactions for investment offerings, but that’s about it. The rest is mostly 409A, and executive compensation packages (severance agreements, parachute payments, etc.). There’s a lot of due diligence and if the deals are flowing, you can spend an entire day reviewing documents to make sure they have all the necessary clauses.
One of our other offices (one attorney) focuses strictly on employee benefits. It does mostly compliance work and daily counseling and maintenance of qualified retirement plans. I think the work is steadier with fewer crazy hours than exec comp.
If you go to the day in the life thread or whatever, you’ll find a pretty good description.
My firm’s NY office is strictly exec comp. We call the team EBEC, but I don’t think we do any ERISA at all (outside of one person in a satellite). I think one partner may advise on prohibited transactions for investment offerings, but that’s about it. The rest is mostly 409A, and executive compensation packages (severance agreements, parachute payments, etc.). There’s a lot of due diligence and if the deals are flowing, you can spend an entire day reviewing documents to make sure they have all the necessary clauses.
One of our other offices (one attorney) focuses strictly on employee benefits. It does mostly compliance work and daily counseling and maintenance of qualified retirement plans. I think the work is steadier with fewer crazy hours than exec comp.
If you go to the day in the life thread or whatever, you’ll find a pretty good description.
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Anonymous User
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Re: Executive Compensation / Employee Benefits
I would look at the bios of the partners at the firms you're interested and see what they're speaking/writing on to get an idea of what they do (their actual bios may say ERISA but if all they've ever spoken about is executive comp related, it should be pretty clear that they don't do a ton of general benefit plan compliance work, or that they do mostly M&A.
I'm not in NYC, so I can't speak to the lifestyle there (I'm in a different major market), but generally with EBEC work, those who do compliance will have a steadier stream of work with few late nights/weekends than those who are doing a lot of M&A work, where you're subject to the whims of the deal and deal team.
I'm not in NYC, so I can't speak to the lifestyle there (I'm in a different major market), but generally with EBEC work, those who do compliance will have a steadier stream of work with few late nights/weekends than those who are doing a lot of M&A work, where you're subject to the whims of the deal and deal team.
