Do IB not have mandatory retirement ages like law firms Forum

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lawschoolsplit2023

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Do IB not have mandatory retirement ages like law firms

Post by lawschoolsplit2023 » Mon Jun 17, 2024 12:10 pm

I am 39 now and beginning law school late in life. I plan to graduate from law school in 2029 at 44, then spend up to 5 years in a big law firm, then by 49 possibly become assistant general counsel at an investment bank like Goldman. 44 starting big law or 49 as assistant general counsel at a non law firm is still significantly under 65 average retirement age, so investment banks don’t seem to have mandatory retirement ages right like law firms?

The Lsat Airbender

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Re: Do IB not have mandatory retirement ages like law firms

Post by The Lsat Airbender » Sat Jun 22, 2024 12:07 am

Partnerships (including financial firms set up that way) use mandatory retirement ages to ensure refreshment of a group of shareholder-employees who traditionally are unfireable.

Modern GS, like most professionally-managed corporations, doesn't need that; they'll just can you (incl. by offering a severance deal that's too good to refuse) when you're past your prime.

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