2nd year BL to in-house at a hedge fund? Forum

[Anonymous User]

2nd year M&A/funds associate at a V30, expecting to receive an offer soon to go in-house at a hedge fund with $20-$40B AUM. Would be a generalist role, lots of compliance type stuff, but from how the GC described it there’d be a big variety of work. She also said there’s not a lot of cost-consciousness when it comes to bringing in outside counsel (so I won’t be expected to work super late - I can hand things off to the poor guy at Skadden or whatever). Recruiter says pay will likely be around what I currently make.

I’m reasonably happy in big law - can see myself sticking around for a while. But, I also don’t want to squander what seems like a solid opportunity. I do worry that it might be a mistake to leave BL so early.

Any insight/advice/warning would be welcome. Would also be curious as to what salary I should reasonably expect.

[existentialcrisis]

2nd year M&A/funds associate at a V30, expecting to receive an offer soon to go in-house at a hedge fund with $20-$40B AUM. Would be a generalist role, lots of compliance type stuff, but from how the GC described it there’d be a big variety of work. She also said there’s not a lot of cost-consciousness when it comes to bringing in outside counsel (so I won’t be expected to work super late - I can hand things off to the poor guy at Skadden or whatever). Recruiter says pay will likely be around what I currently make.

I’m reasonably happy in big law - can see myself sticking around for a while. But, I also don’t want to squander what seems like a solid opportunity. I do worry that it might be a mistake to leave BL so early.

Any insight/advice/warning would be welcome. Would also be curious as to what salary I should reasonably expect.

If you're not absolutely miserable (and it would be totally understandable if you were), I'd consider sticking it out for another year or two. You'll learn a ton at a firm as a 3rd and 4th year and it will position you much better for career growth in house.

I think people who go in house too early put themselves at serious risk of doing super low level work forever (think the bolded), as in house isn't a great place to develop skills/really learn how to be a lawyer.

[Moneytrees]

2nd year M&A/funds associate at a V30, expecting to receive an offer soon to go in-house at a hedge fund with $20-$40B AUM. Would be a generalist role, lots of compliance type stuff, but from how the GC described it there’d be a big variety of work. She also said there’s not a lot of cost-consciousness when it comes to bringing in outside counsel (so I won’t be expected to work super late - I can hand things off to the poor guy at Skadden or whatever). Recruiter says pay will likely be around what I currently make.

I’m reasonably happy in big law - can see myself sticking around for a while. But, I also don’t want to squander what seems like a solid opportunity. I do worry that it might be a mistake to leave BL so early.

Any insight/advice/warning would be welcome. Would also be curious as to what salary I should reasonably expect.

I'd stick it out. There is no in-house role that you qualify for now that you wouldn't qualify for in 1 or 2 years.

[trebekismyhero]

I am going to disagree with the others, if you don't want to make partner. If comp is what you make now, that is probably as good an offer as you will get for the next couple years. What you will learn at the firm may or not translate to the role that you do take in-house. Also, you will learn a lot in-house. I left a little later than you, at the end of 3rd year, start of 4th year. I don't regret it at all and have learned a lot being in-house and my life has been much better than all my friends who have stayed in BL.

Now if you are unsure about whether you want to leave big law, then I would stay.

[existentialcrisis]

I am going to disagree with the others, if you don't want to make partner. If comp is what you make now, that is probably as good an offer as you will get for the next couple years. What you will learn at the firm may or not translate to the role that you do take in-house. Also, you will learn a lot in-house. I left a little later than you, at the end of 3rd year, start of 4th year. I don't regret it at all and have learned a lot being in-house and my life has been much better than all my friends who have stayed in BL.

Now if you are unsure about whether you want to leave big law, then I would stay.

IMO 3rd year is an important one at a firm for learning stuff though no? I feel like that's largely when you start getting a good bit more responsibility/ownership because you actually know how to do the job.

[trebekismyhero]

I am going to disagree with the others, if you don't want to make partner. If comp is what you make now, that is probably as good an offer as you will get for the next couple years. What you will learn at the firm may or not translate to the role that you do take in-house. Also, you will learn a lot in-house. I left a little later than you, at the end of 3rd year, start of 4th year. I don't regret it at all and have learned a lot being in-house and my life has been much better than all my friends who have stayed in BL.

Now if you are unsure about whether you want to leave big law, then I would stay.

IMO 3rd year is an important one at a firm for learning stuff though no? I feel like that's largely when you start getting a good bit more responsibility/ownership because you actually know how to do the job.

Yes, but I still didn't use most of what I learned during my 3rd year when I went in-house. It all depends on what OP wants. But the fact that the salary is good and they have outside counsel and senior attorneys above them, should still allow OP to continue to learn while in-house.