Need some honest opinions as my own brain keeps spiraling on this topic.
Current 7th year in funds practice, so base salary $420k, bonus potential $115k (although my group has had a slow year to start so this is probably out the window now).
Have an opportunity to go in-house for a fund working under GC. Base comp $275k, total comp $350k-$400k with bonus/carry. I live in a non-NYC city.
I don't hate my biglaw job and could probably make counsel here in next 1-2 years, but I don't think I want to do the grind to be a partner long-term.
I keep wondering if it would be better to wait out moving in-house until I'm at the 9-10th year range so I could get either a more senior role at a bigger fund or maybe a GC role at a smaller shop.
Anyone find that options change drastically if moving as a counsel instead of senior associate?
Am I Crazy For Considering Not Taking In-House Role? Forum
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Anonymous User
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johndhi
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Re: Am I Crazy For Considering Not Taking In-House Role?
you don't seem crazy.
I will ask though - if you stay a the firm longer and then go become a GC or more senior in-house, you must realize those jobs are very hard. particularly being a GC - that's the same 'grind' you referred to with trying to make partner. so I'd encourage you to think about that - what do you really want?
this in-house gig seems good, but I'd want to really push to understand how muc hbetter the work life balance is. if it's fantastic and you want that maybe do it.
I will ask though - if you stay a the firm longer and then go become a GC or more senior in-house, you must realize those jobs are very hard. particularly being a GC - that's the same 'grind' you referred to with trying to make partner. so I'd encourage you to think about that - what do you really want?
this in-house gig seems good, but I'd want to really push to understand how muc hbetter the work life balance is. if it's fantastic and you want that maybe do it.
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nealric
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Re: Am I Crazy For Considering Not Taking In-House Role?
I don't know your specific industry, but at least in mine (energy) there wouldn't be much of a difference between what a 7th year could get and a 10th year counsel could get. A partner might be in a better position if only because they will get more direct client contact.
If you really think your long-term trajectory is in-house, and you like the fund, then I'd go for it. On the other hand, if you think you could make a realistic play for partner or are ambivalent about going in-house it may be worth waiting it out. You should also get a good sense of w/l balance. In a firm, you know it's going to be bad. In-house, it could be anywhere from a chill 30-hour work week to a biglaw grind depending on company culture.
If you really think your long-term trajectory is in-house, and you like the fund, then I'd go for it. On the other hand, if you think you could make a realistic play for partner or are ambivalent about going in-house it may be worth waiting it out. You should also get a good sense of w/l balance. In a firm, you know it's going to be bad. In-house, it could be anywhere from a chill 30-hour work week to a biglaw grind depending on company culture.
