Hi there. I'm a long-time Big Law M&A associate and have recently been wondering why I see so many online courses for financial modeling for incoming investment bankers but never see anything for folks who are starting in biglaw.
Think there would be any interest out there for a service like this? Any particular areas or ways to approach this that incoming biglaw / or 1Ls and 2Ls would find valuable and worth paying $100 or $200 for?
It personally took me 6-12 months to get the handle on everything and figure out how corporate law worked so see some value but interested to get others' thoughts.
Online Training for BigLaw? Forum
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LBJ's Hair
- Posts: 848
- Joined: Tue Jun 28, 2016 8:17 pm
Re: Online Training for BigLaw?
not sure there's a market
the people who personally pay for the financial modeling courses are almost exclusively (a) college juniors/MBAs who are worried about getting no-offered at their summer analyst/summer associate gig, and (b) analysts (and maybe associates) who want to learn how to do the PE modeling tests
BigLaw has 100% summer offer rates, so there's no clear parallel for (a). as for (b), there's no standard test/template/whatever everyone does when they're looking to move in-house, so not much demand from BigLaw juniors either.
if an actual practicing lawyer just wants to learn how to do his/her job, dunno why he'd pay you $100 when he could access a ton of internal training materials, or do a CLE and get actual CLE credit
if you want to make $100 a pop selling "training" materials to lawyers/law students, the big markets are (a) LSAT prep, (b) outline banks for law students, (c) bar prep.
the people who personally pay for the financial modeling courses are almost exclusively (a) college juniors/MBAs who are worried about getting no-offered at their summer analyst/summer associate gig, and (b) analysts (and maybe associates) who want to learn how to do the PE modeling tests
BigLaw has 100% summer offer rates, so there's no clear parallel for (a). as for (b), there's no standard test/template/whatever everyone does when they're looking to move in-house, so not much demand from BigLaw juniors either.
if an actual practicing lawyer just wants to learn how to do his/her job, dunno why he'd pay you $100 when he could access a ton of internal training materials, or do a CLE and get actual CLE credit
if you want to make $100 a pop selling "training" materials to lawyers/law students, the big markets are (a) LSAT prep, (b) outline banks for law students, (c) bar prep.
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persia1921
- Posts: 74
- Joined: Mon Nov 18, 2013 5:14 pm
Re: Online Training for BigLaw?
Given the sheer amount of type A folks that end up in big law, I'm sure if you put together a cool looking website and a program package you could get a lot of folks to sign up for $100 bucks a pop, assuming it is marketed well.
That said, I agree with the above poster, I am not really sure what you'd teach in the course. I tell all first years the job is basically (1) be super responsive, (2) be positive/willing to dive in (3) be nice (4) don't think a task is below you, (5) be as detail oriented as you can be. Other things that come to mind would be learning to manage your inbox quickly and depending on your practice, keep a list of key issues/checklist that come up frequently in agreements, what the positions are, and how the different sides to a transaction will view those positions.
That said, I agree with the above poster, I am not really sure what you'd teach in the course. I tell all first years the job is basically (1) be super responsive, (2) be positive/willing to dive in (3) be nice (4) don't think a task is below you, (5) be as detail oriented as you can be. Other things that come to mind would be learning to manage your inbox quickly and depending on your practice, keep a list of key issues/checklist that come up frequently in agreements, what the positions are, and how the different sides to a transaction will view those positions.
