Biglaw --> Hedge Fund? Forum

[Anonymous User]

Current biglaw associate who was contacted by a recruiter for a non-legal opening at a hedge fund. Currently in the interview process, and I am interested in speaking to anyone who has previously made the jump from biglaw to a hedge fund.

Thanks.

[Anonymous User]

Unfortunately I can't answer your question, but wondering what kind of candidate recruiters look for (i.e., V10 or V50, M&A or something else) if you're able to share any broad characteristics?

[Anonymous User]

Can't speak directly to BL associate -> HF but made a similar jump as a paralegal. When I consider the kind of lawyer I worked with, most jumped from at least V20 unless you're down to work under or run funds / internal compliance. This was a fund that compensated attorneys in the >300k range for juniors, but the general profile of attorney was V20, at least, top law school (T10, mostly Harvard/NYU), 4-5 years in, committed to culture of HF and would be down to commit to life to work if the situation called for it. At that level, especially PE/HF/VC, internal lawyers were down to get right to it if it called for it - but the tradeoff being an exciting time for the fund (conceiving / structuring / piloting a new strategy, producing a new financial product, etc). I understand the wholesale obsession with "going in-house" in finance or some other NY option, but the in-house opportunities that guarantee the most satisfaction are the ones where you are aligned with where the firm is going and are willing to go with the flow / direction. If you are interested in this potential HF jump, I'd ask yourself if you really want to commit to being a significant part of a growth project and if you can feel you justify the cost of your services - something many in the high finance / hedge fund world will look down upon (i.e. "lawyers as a cost center"). Compensation / lifestyle trade-off could end up better going in-house, but only if you vibe with the culture / know you are willing to give it your all when company asks you to.

[Anonymous User]

Can't speak directly to BL associate -> HF but made a similar jump as a paralegal. When I consider the kind of lawyer I worked with, most jumped from at least V20 unless you're down to work under or run funds / internal compliance. This was a fund that compensated attorneys in the >300k range for juniors, but the general profile of attorney was V20, at least, top law school (T10, mostly Harvard/NYU), 4-5 years in, committed to culture of HF and would be down to commit to life to work if the situation called for it. At that level, especially PE/HF/VC, internal lawyers were down to get right to it if it called for it - but the tradeoff being an exciting time for the fund (conceiving / structuring / piloting a new strategy, producing a new financial product, etc). I understand the wholesale obsession with "going in-house" in finance or some other NY option, but the in-house opportunities that guarantee the most satisfaction are the ones where you are aligned with where the firm is going and are willing to go with the flow / direction. If you are interested in this potential HF jump, I'd ask yourself if you really want to commit to being a significant part of a growth project and if you can feel you justify the cost of your services - something many in the high finance / hedge fund world will look down upon (i.e. "lawyers as a cost center"). Compensation / lifestyle trade-off could end up better going in-house, but only if you vibe with the culture / know you are willing to give it your all when company asks you to.

OP specifically said it's a NON-LEGAL OPENING meaning he's not going to be an in-house lawyer there, he is going to be on the business/finance side. I've only heard stories of lawyers turn investment bankers, but lawyer straight to HF is quite new to me.

OP, after you are done with your interview process, would you mind sharing your background? (did you do Finance undergrad or do you have a JD/MBA), which type of work did you do at your current firm? Thx!