Switching Practice Areas as a Junior/Exit Options Forum

[Anonymous User]

How easy is it to switch to a practice like corporate/M&A as a junior associate from a financial services/regulatory practice? Timing wise how early should one plan this switch?

[Definitely Not North]

Not sure how hard it will be for you particularly, but I can tell you that it will get harder the longer you wait. Make the switch as soon as possible.

[Anonymous User]

To clarify how difficult is it to go from a financial services/investment management type practice into general corporate or M&A

[Lesion of Doom]

I tried to lateral into a retool as a 2nd year and, even ITE, couldn't make it happen. I was bombarded by debt finance lateral offers like every other lateraling debt associate in NYC, but I just couldn't strike iron on a retool. But others I've known in the same class year were able to make it happen, so maybe it was just me.

[Anonymous User]

To clarify how difficult is it to go from a financial services/investment management type practice into general corporate or M&A

I actually did this at one point in my career as a mid-level. I took a 1-year hit on seniority (negotiated down from a 2-year hit). It wasn't too hard a switch - fund work lends itself well to working with the equity docs and due to the volume in M&A you'll pick up the rest quickly. Just sell yourself on your strength with LPAs, LLCAs and knowledge of PE fund structures... it's a switch you may regret, but will open up a lot of more generic 9-5ish in-house roles.

[Anonymous User]

To clarify how difficult is it to go from a financial services/investment management type practice into general corporate or M&A

I actually did this at one point in my career as a mid-level. I took a 1-year hit on seniority (negotiated down from a 2-year hit). It wasn't too hard a switch - fund work lends itself well to working with the equity docs and due to the volume in M&A you'll pick up the rest quickly. Just sell yourself on your strength with LPAs, LLCAs and knowledge of PE fund structures... it's a switch you may regret, but will open up a lot of more generic 9-5ish in-house roles.

OP here, can I PM you to ask you more about your experience/background? You seem to have great insights/experience with this matter. Also curious to hear why you think it is a switch I may regret. Thank you in advance!

[Anonymous User]

To clarify how difficult is it to go from a financial services/investment management type practice into general corporate or M&A

I actually did this at one point in my career as a mid-level. I took a 1-year hit on seniority (negotiated down from a 2-year hit). It wasn't too hard a switch - fund work lends itself well to working with the equity docs and due to the volume in M&A you'll pick up the rest quickly. Just sell yourself on your strength with LPAs, LLCAs and knowledge of PE fund structures... it's a switch you may regret, but will open up a lot of more generic 9-5ish in-house roles.

Sometimes I wonder how possible it is to do this. I want to make a pretty substantive switch (Capital Markets to white collar investigations), and would be happy to take a multiple year hit. I'm imagining there are more like me who would do something like this, but I never really hear this happening.

[MarcusH]

OP, feel free to PM me.

[Anonymous User]

To clarify how difficult is it to go from a financial services/investment management type practice into general corporate or M&A

I actually did this at one point in my career as a mid-level. I took a 1-year hit on seniority (negotiated down from a 2-year hit). It wasn't too hard a switch - fund work lends itself well to working with the equity docs and due to the volume in M&A you'll pick up the rest quickly. Just sell yourself on your strength with LPAs, LLCAs and knowledge of PE fund structures... it's a switch you may regret, but will open up a lot of more generic 9-5ish in-house roles.

Sometimes I wonder how possible it is to do this. I want to make a pretty substantive switch (Capital Markets to white collar investigations), and would be happy to take a multiple year hit. I'm imagining there are more like me who would do something like this, but I never really hear this happening.

One data point, my firm let a 4th year lit associate become a 1st year corp associate. Best damn 1st year corp associate

[Anonymous User]

Yea, switches are very common early in your career. The allure of money quickly fades after law school as you're working all those hours, doing work that you necessarily do not enjoy. I wonder if people in this profession would be happier if they just followed their hearts from the beginning and didn't just go with the bandwagon and money. I see all these juniors in private practice already looking for exit options and laterals, while I don't know a single person looking to leave the public sector to work in private.

[Anonymous User]

Yea, switches are very common early in your career. The allure of money quickly fades after law school as you're working all those hours, doing work that you necessarily do not enjoy. I wonder if people in this profession would be happier if they just followed their hearts from the beginning and didn't just go with the bandwagon and money. I see all these juniors in private practice already looking for exit options and laterals, while I don't know a single person looking to leave the public sector to work in private.

True, but it's significantly harder to land a lot of public interest/public sector jobs right out of law school (not all such jobs, of course, but it's true for a lot of the positions people really want). Big law is the easier path, and I think a lot of people do it for the money, but also fully intending to leave once they are competitive for public interest jobs.