Too Early to Move In-House? Forum

[Anonymous User]

Didn't expect this, but have an offer on the table to move in house at a major energy company (think Global 500-1000). The company is based in Europe, but I would be working out of their U.S. Headquarters. I am in a large Midwestern market (you can probably figure it out, but I'm not going to say it directly).

I am currently a third-year at a V40. I recently lateraled from a V10 and have been at my current firm for fewer than 6 months. I have no problems at all with my firm, but like many, have recently experienced the significant slowdown in corporate transactional work and while the messaging has been positive, I'm never going to feel safe with 50 hours/month on my billable sheet. I also switched into a finance role and, while the work is by no stretch bad, it would be dishonest of me to say that I find it engaging, though it is much more stable than my prior area of practice and has lived up to that thus far. By contrast this job seems quite recession-resistant given the state of energy markets in Europe and the industry generally.

The role seems pretty nice. Maybe my perceptions are incorrect but I thought I would have had to wait longer to land something like this. Pay is 175k with additional (TBD amount) equity vesting, 15k year-end bonus with potentially more for incentives, 401k match (and insurance, etc). Reports directly to the VP Head of Legal for N.A., who works out of the same office, so there's C-suite exposure. It's a classic generalist corporate role (contract review, help with financings, data privacy and cybersecurity, etc.) rather than a specific "product-counsel" role or something more specialized. The company's legal team is large globally but leaner in N.A. - I don't think "being seen" will be an issue. It's certainly going to be a haircut from my current 225k Cravath, and I do have a guaranteed bonus this year that I negotiated, but if this in-house job is the true 9-5 experience (and hopefully much more engaging day-to-day) I don't think I'd mind making $5000 per paycheck instead of $5800 (takehome after taxes), though of course the loss of bonuses would sting.

Is this opportunity worth hopping off of the Biglaw train? It's likely that I'll have to pay back half of my signing bonus. Fortunately I negotiated for it to vest on a per-month basis but let's assume they ask that I pay the unvested portion back.

[trebekismyhero]

If you don't love the work and are slow after a recent lateral move, making the move in-house is probably not a bad idea. Can always go back to big law without questions in a year or so if this doesn't work out. Reporting directly to the head of legal is important. Comp isn't too bad, especially for a 3rd year. I would ask the company if they can offer a signing bonus to make up for the loss of your bonus and get a firm number on equity. The firm might not actually ask for your signing bonus since you're going in-house they'll want to keep good relations

[Anonymous User]

If it's a French energy company like Total SA, you can look forward to a TON of holidays each year.

[Anonymous User]

If you don't love the work and are slow after a recent lateral move, making the move in-house is probably not a bad idea. Can always go back to big law without questions in a year or so if this doesn't work out. Reporting directly to the head of legal is important. Comp isn't too bad, especially for a 3rd year. I would ask the company if they can offer a signing bonus to make up for the loss of your bonus and get a firm number on equity. The firm might not actually ask for your signing bonus since you're going in-house they'll want to keep good relations

Appreciate the comprehensive take, thank you.

[Anonymous User]

If it's a French energy company like Total SA, you can look forward to a TON of holidays each year.

Not French but possible there's a similar dynamic - I'll have to look into that!

[Anonymous User]

It's possible that they won't even ask you to repay your signing bonus, to preserve the relationship with your new employer. I think the clawback is mostly enforced when you lateral.

[Anonymous User]

Any tips on getting such an offer? Rising third year in a similar situation. Did you use a recruiter or what? Thanks and congrats!

[Anonymous User]

It's not too early. This opportunity sounds great. I wouldn't feel comfortable with 50 hours per month either. Anyway, "product counsel" isn't really a "specialized" role as you say.

[Elston Gunn]

Sounds like a solid offer for a 3rd year, though it must not have a big presence in the US if they’re hiring someone at your experience level and salary to report to the HoL US. But if it’s a legit company I would go for it for sure.