Without giving too much information to out myself, I am a mid-level associate at one of the big IP "boutiques" (i.e. Fish/Finnegan/Desmarais/McKool/Durie) doing soft IP (non-patent). I have the opportunity to lateral into an IP practice at a V50 firm. It is hard to estimate the "prestige" here because all the IP rankings for big law are patent heavy (if not solely based on patents), but I'm basically moving from what is considered in the upper echelon of IP boutiques to something not as prestigious. My end goal is also to work in-house, so I don't intend on being at the firm all my life, however I have no intention of making this transition unless I don't make partner or after a few years of partnership (eyeing roles higher than senior counsel in the latter case).
My only concerns for the move are (1) the drop in prestige (and possible effect on exit opportunities) and (2) that I think there is a >50% chance I can make partner where I'm at now, so I'd be giving that up. Otherwise I like (1) the security of big law in terms of raises (while I am currently at market, there is no guarantee if there is another raise that I will get a match); (2) much bigger bonuses (I am not at market for bonuses); (3) the big law reputation (while I'm currently in a very high regarded IP firm, I still find there is a lack of awareness outside that field in terms of exit opportunities); and (4) if I do make partner, I will make a lot more money.
Is there something I'm not seeing here that should counsel me against moving? I basically have one move left within me the next year then I'm unlateralable basically given my class year.
Lateral from Boutique IP to Biglaw IP? Forum
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Re: Lateral from Boutique IP to Biglaw IP?
Well, given the economic environment, you should figure out whether the V50 is stable enough to keep feeding you hours, or whether you'll get culled rather quickly if the work dries up (recent laterals tend to be put on the chopping block quickly).
Other than that, it sounds like you are mainly moving for the money and reputation. Have no opinion on the money (that's your prerogative), but If your goal is to go in-house the reputation of the firm matters less than the ability to make client connections (for networking purposes) and the work that you are actually doing. I'm in-house, and if I were to hire someone I would be more concerned with their work experience and track record than what firm they are working for. Firm reputation matters a bit, but honestly there's duds at V5s that would not do well in an in-house environment so you can't rely on rep alone.
Other than that, it sounds like you are mainly moving for the money and reputation. Have no opinion on the money (that's your prerogative), but If your goal is to go in-house the reputation of the firm matters less than the ability to make client connections (for networking purposes) and the work that you are actually doing. I'm in-house, and if I were to hire someone I would be more concerned with their work experience and track record than what firm they are working for. Firm reputation matters a bit, but honestly there's duds at V5s that would not do well in an in-house environment so you can't rely on rep alone.
