Gov't to BigLaw (Regulatory): Class Year Cut? Forum

[Anonymous User]

Currently a first year at a NYC firm in a transactional/regulatory practice. I'd like to spend a couple of years in government--think CFTC/SEC/Fed--and I'm waiting to hear back from some interviews. If I work for a few years in an agency and then want to transition back to BigLaw, would I be able to come back on track with the rest of my law school graduation class...or would I have to take a class year cut? Assume I'd return to a practice area that is directly within the agency's purview.

I've seen varying commentary on other threads re: whether or not ex-gov't lawyers are forced to take a cut in class year, but almost all of the advice is geared towards ex-DOJ/litigation folks. Not sure if people have any experience on the regulatory side and/or have seen laterals from agencies come in at particular class years at their firms. By the way, if I decide to go back to BigLaw, it would be within 2-3 years, not like after 6-8+ years, if that makes a difference. Thanks in advance!

[Anonymous User]

What would be the rationale for this if you want to come back to biglaw in a couple years?

[Anonymous User]

I did state regulatory to big law and had to take a class year cut of two years. I may have negotiated it to one year cut if I knew better at the time but while I was with my firm I observed government attorneys regularly took class year cuts.

I'm aware of one attorney who did small law firm to SEC to big law and took a two or three year cut. I know of others who did similar paths through CFPB and also took cuts of two years to go to big law.

Mostly I am not aware of attorneys who did big law to big fed and back to big law as an associate. They generally do several years in big law and then in big fed and are able to transition into counsel or partner positions. I don't really know why one may want to do big law to big fed to big law associate again. Your big fed quality of life will be superb and the pay is extremely livable. But if you need the money and want autonomy in your practice then counsel or partner should be better.

I'm currently at a federal financial regulator and don't see myself leaving anytime soon, and especially never back to big law.

[Anonymous User]

I don't really know why one may want to do big law to big fed to big law associate again.

This is kind of what I was wondering. If your goal is to make partner, I think that coming back as a more senior associate will be harder, as you’ll have missed out on significant years for proving yourself to the people at your firm who’ll make that decision (especially showing them you can work with or bring in clients), and you won’t really have enough time with the government to make up for it. For one thing, working for the feds isn’t really going to prepare you for the non-legal part of being a senior associate (managing jrs and partners and clients). So you wouldn’t quite be similarly situated with a lateral of the same class year who’s been at a firm the whole time. I tend to agree you’d be better off staying at the firm longer, then going federal and coming back as of counsel/partner.

But of course that can all vary quite a lot by firm and individual and so on, so my concerns may be meritless.

[Anonymous User]

OP. The above replies are very helpful, thank you! So it sounds it negotiating class year is very case-specific.

And for some context, SO is clerking. We're thinking of having kids in the near future, so we may want one of us to be in a private sector role. If SO ends up at a firm, believe me, I'd LOVE to stay in Big Fed lol. But if instead it's PI/fellowships, which looks more likely, I may end up going back to a firm.

[Anonymous User]

Mid/senior associate in a finreg practice. I would expect you to take a 1-2 year cut at least, and have some serious questions about why you want to be at a firm/whether you can hack it if you left as a first year. I also doubt you'd want to come back more senior than about 5th year if your goal is partner, just to have time to show you can dj it and build up a rep, etc.

One thing I've seen is 10+ years at a regulator to senior/special counsel, but that's a very different path.