Going inhouse as 8/9th year

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Going inhouse as 8/9th year

Post by Anonymous User » Wed Jan 13, 2021 9:14 am

Currently a mid level doing fund formation work. Don't love the work but for financial reasons, I would like to stick around for another 3/4 years which would make me a 8/9th year. I keep hearing that once you are that senior, it becomes difficult to move in house. Has anyone/know who has experienced this? I'd love to hear any anecdotes/insight, of anyone moving in house as a senior associate with a corp/fund formation background. Thanks.

TigerIsBack

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Re: Going inhouse as 8/9th year

Post by TigerIsBack » Wed Jan 13, 2021 9:54 am

Anonymous User wrote:
Wed Jan 13, 2021 9:14 am
Currently a mid level doing fund formation work. Don't love the work but for financial reasons, I would like to stick around for another 3/4 years which would make me a 8/9th year. I keep hearing that once you are that senior, it becomes difficult to move in house. Has anyone/know who has experienced this? I'd love to hear any anecdotes/insight, of anyone moving in house as a senior associate with a corp/fund formation background. Thanks.
I've heard this too (I'm not a senior so I can't speak from direct experience), but there seems to be a ton of openings that want 7+ years of experience from either a top law firm or in house.

I think it might be "harder" in the sense that, all else being equal, preference may go to someone who did 4 years at a law firm and 4 years in house over someone who did 8 years in a firm. But again, take this with a gran of salt because I don't actually know. I have been turned down previously as a 4th year for in house roles that I thought interviews went well but where they wanted someone with more experience.

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Re: Going inhouse as 8/9th year

Post by Anonymous User » Wed Jan 13, 2021 11:36 am

Having been on the hiring side in-house, the issue with seniority was (a) expected pay and (b) being more experienced/senior than the person you would be reporting to. That all said, I wouldn't be too worried about it so long as you understand you may not make more than a 4th year would going in-house; you also may be at a disadvantage for certain GC/CCO roles where you might fit the seniority requirements but not have the requisite experience of having dealt with the work you see in-house but not in a law firm.

Anonymous User
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Re: Going inhouse as 8/9th year

Post by Anonymous User » Wed Jan 13, 2021 2:12 pm

TigerIsBack wrote:
Wed Jan 13, 2021 9:54 am
Anonymous User wrote:
Wed Jan 13, 2021 9:14 am
Currently a mid level doing fund formation work. Don't love the work but for financial reasons, I would like to stick around for another 3/4 years which would make me a 8/9th year. I keep hearing that once you are that senior, it becomes difficult to move in house. Has anyone/know who has experienced this? I'd love to hear any anecdotes/insight, of anyone moving in house as a senior associate with a corp/fund formation background. Thanks.
I've heard this too (I'm not a senior so I can't speak from direct experience), but there seems to be a ton of openings that want 7+ years of experience from either a top law firm or in house.

I think it might be "harder" in the sense that, all else being equal, preference may go to someone who did 4 years at a law firm and 4 years in house over someone who did 8 years in a firm. But again, take this with a gran of salt because I don't actually know. I have been turned down previously as a 4th year for in house roles that I thought interviews went well but where they wanted someone with more experience.
Counsel/nonequity partner here -- this is definitely true for the generic "counsel" in-house positions. My understanding is that if you can stick it out to promotion and are at a good shop, you're competitive for more senior positions (deputy GC, associate GC, chief corporate counsel for larger companies). The process just becomes even more bespoke.

Anonymous User
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Joined: Tue Aug 11, 2009 9:32 am

Re: Going inhouse as 8/9th year

Post by Anonymous User » Wed Jan 13, 2021 6:19 pm

Anonymous User wrote:
Wed Jan 13, 2021 9:14 am
Currently a mid level doing fund formation work. Don't love the work but for financial reasons, I would like to stick around for another 3/4 years which would make me a 8/9th year. I keep hearing that once you are that senior, it becomes difficult to move in house. Has anyone/know who has experienced this? I'd love to hear any anecdotes/insight, of anyone moving in house as a senior associate with a corp/fund formation background. Thanks.
I don't see this being problematic, how far the extra four years as OC will get you compared to four years inside would depend on the role you're applying for. If you're looking to transition into a more generalist role, you're likely not going to get much credit for the four extra years. You may compare slightly more favorably to someone with less time, but you're not going to have the diversity of experience that someone who has been in house would (because you've likely spent another four years further specializing as OC).

Many people make the transition around 5-7 years. A little later than that won't be particularly problematic as long as you have a reason to explain why your timing works the way it does (your choice/plan vs. being desperate because you're being forced out). You'll obviously take a bigger step backwards in pay when you first move, but it is probably offset in the mid term by the additional 4 years of senior associate pay as OC.

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