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Most LUCRATIVE in house places?
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Date: May 27th, 2012 9:20 PM Author: beta candlestick maker What are the very top exit ops in terms of comp- for guys with like 5 years of M&A/cap mrkts at S&C/DPW/Cravath?? 230k all in? (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20778028) |
Date: May 27th, 2012 9:29 PM Author: Red yapping sanctuary legend goldman sachs (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20778069) |
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Date: May 27th, 2012 10:04 PM Author: Big startling azn karate IB. Know a 4th year at V5 who got 400k all in. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20778261) |
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Date: May 27th, 2012 10:14 PM Author: Wine milk gaming laptop wtf (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20778300) |
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Date: May 27th, 2012 10:27 PM Author: Beady-eyed ruddy cuckoldry That's not out of range for a senior associate. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20778369) |
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Date: May 27th, 2012 10:29 PM Author: Laughsome effete pervert yes it is. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20778390) |
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Date: May 27th, 2012 10:32 PM Author: Beady-eyed ruddy cuckoldry As a 4th year associate at a BB in a group that's doing well? No. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20778409) |
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Date: May 27th, 2012 10:33 PM Author: Laughsome effete pervert were talking lawyers here, bro. and even if we're not, no one is hiring/paying a lawyer as a 4th year ib associate. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20778419) |
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Date: May 27th, 2012 10:34 PM Author: Beady-eyed ruddy cuckoldry We're talking about lawyers' exit options. That jump is rare, but once again possible. The most common entry point to IB from law is as a senior associate. |
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Date: May 27th, 2012 10:36 PM Author: Laughsome effete pervert maybe they give you the title. there's no way in hell they give you 400k. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20778441) |
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Date: May 29th, 2012 1:50 PM Author: Hilarious self-absorbed mad-dog skullcap church building MFE (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20786938) |
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Date: May 29th, 2012 1:45 PM Author: tantric property Thread was about "in house" (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20786910) |
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Date: May 27th, 2012 10:10 PM Author: Khaki piazza clown (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20778283) |
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Date: May 27th, 2012 10:24 PM Author: Laughsome effete pervert its law firms or bust, bro. once you break out of that sphere of pretense that engulfs biglaw, you're just another over-educated back-office bozo. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20778352) |
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Date: May 28th, 2012 10:12 AM Author: opaque marvelous hospital Greetings, Correct me if I'm wrong, but isn't the CEO back office? |
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Date: May 28th, 2012 11:18 AM Author: Laughsome effete pervert lol. no, not really. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20780229) |
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Date: May 28th, 2012 11:23 AM Author: aromatic public bath The front office vs MO vs BO distinction lies on how "front-facing," i.e., client facing, your role is. CEOs, depending on leadership style, may retain significant oversight of all internal(BO) operations, but are typically very client- and investor-focused. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20780240) |
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Date: May 29th, 2012 8:09 PM Author: opaque marvelous hospital Greetings, There are many in-house positions that are heavily focused on negotiating with clients. This makes them front office, then, right? In any case, my bad, I thought FO was about revenue generation. |
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Date: May 27th, 2012 11:05 PM Author: Vengeful Resort I left as a senior associate for a 350k law job in finance in the northeast. That's common enough in that I know several other people who have done it. Most I've heard of anyone getting is 500k in NYC.
Places that have the potential to pay this much are generally banks, asset managers, some high-end industrial. In-house comp varies widely within an institution. |
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Date: May 28th, 2012 4:41 AM Author: beta candlestick maker vault range and practice area? good job dooder. 350k with no debt is no joke. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20779937) |
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Date: May 28th, 2012 9:44 AM Author: Vengeful Resort v20, tax. the best part is the job is 9-6 - I was definitely not expecting that. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20780088) |
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Date: May 28th, 2012 10:15 AM Author: thriller thirsty skinny woman A lot of the talk on the tax talent forums is that ppl who go in-house from biglaw in tax get a salary as high or higer than they had in biglaw. Would you say that is true? (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20780120) |
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Date: May 28th, 2012 10:40 AM Author: Vengeful Resort It really depends on the firm you work at. The odds are highest if your tax department (i) is well-regarded, (ii) generates its own work (you then tend to be able to do tax planning, which is higher value), (iii) has clients that value tax as a function, like financial services and (iv) is located in the Northeast. So the best place to be is at Cleary in NYC - you'd know financial products and do a fair bit of structuring, be at the most prestigious firm, and be in constant contact with clients who pay their in-house tax people a lot.
On the other hand, if you're at say Wilson Sonsini in Palo Alto, notwithstanding that it's a good firm, you'll probably have to take a significant pay cut - tech doesn't pay tax very well, CA doesn't pay in-house lawyers well, and you'll have been doing a little too much M&A to max out your value.
One advantage to tax is that you're usually in the tax department rather than the legal department. This creates more variance in pay - you might be regarded as a glorified accountant and only worth 90k to the employer, but they might decide the tax department needs a really good lawyer and if they have to pay 300k instead of 200k for one it doesn't create much of a precedent. Also tax can add tangible value by lowering the company's effective tax rate. Legal departments tend to be bigger and more of a cost center, so likelier to pinch pennies/not give you as good of a deal. Sort of like renting a place from Archstone vs. a random condo. |
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Date: May 28th, 2012 10:44 AM Author: thriller thirsty skinny woman ty. How much worse would you say the in-house options are for former big4 M&A/Int'l bros (with JD/LLM/CPA) vs former biglaw tax? (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20780187) |
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Date: May 28th, 2012 11:22 AM Author: Vengeful Resort Better to have BIGLAW. The b4 skillset is good though. I would imagine if you didn't have the credentials for BIGLAW originally those same credentials would shut you out of the best-paying in-house jobs unless you made partner in the b4. The advice at taxtalent.com is geared to this type of candidate. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20780239) |
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Date: May 29th, 2012 2:10 PM Author: Curious Light State Circlehead your thoughts on experience in transfer pricing at b4? is this kind of 'specialization' attractive to corps or does one end up even more pigeonholed than generalist tax bros? (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20787049) |
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Date: May 29th, 2012 7:52 PM Author: Vengeful Resort Big companies need transfer pricing specialists, but they pay them like 100k. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20788756) |
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Date: May 28th, 2012 11:16 AM Author: Lavender turdskin garrison Do you have any idea what kind of exit opps are available out of a top tax boutique (ipb, caplin, etc.)? My work is mostly corp/intl tax planning for f500 clients. We don't do a lot of work for banks so I'm guessing finance jobs are out. I'm still junior and our firm is so small that Im not sure what kind of options are available for me if I don't go the partnership route. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20780225) |
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Date: May 28th, 2012 12:05 PM Author: Vengeful Resort Should be good - I don't think finance is out of the question at all. The boutiques have strong brands in tax (especially Ivins), and the type of planning you do is always in demand. One downside of leaving a boutique is the pay - no in-house employer is going to give you more than 20% over what you're currently making. If you're already at one of these places you should have some idea of where people go afterward.
Also if you can work your way into Treasury you should do it, as this really differentiates you from NYC BIGLAW types like me. In general the downside of DC is less transactional experience and the upside is government so you should capitalize on that if you can. |
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Date: May 28th, 2012 11:26 AM Author: aromatic public bath nice post. ty (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20780251) |
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Date: May 28th, 2012 12:16 PM Author: lascivious hyperventilating shitlib antidepressant drug PSA to law students who think they are going to make 350K to 500K in-house: You aren't. I've watched a lot of associates go in-house and this is extremely rare.
Much more likely to get 200-250k all in leaving as a 5th or 6th year. (Actually, much more likely not even to make it to that point, but for those who do, that's the likely outcome). |
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Date: May 28th, 2012 2:29 PM Author: Poppy becky 200-250k is more than what most people need to live a joyous life.
Strivers who need to live in 7k/month MFH apartments will never be happy, regardless of income. |
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Date: May 28th, 2012 2:45 PM Author: bronze slippery dilemma chad cr (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20781122) |
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Date: May 28th, 2012 8:50 PM Author: lascivious hyperventilating shitlib antidepressant drug I agree with you--I'm just giving a realistic picture of what in-house options look like. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20782783) |
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Date: May 29th, 2012 1:52 PM Author: tantric property I've watched V10 7th years exit to ~120k midlaw/in house. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20786953) |
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Date: May 29th, 2012 7:55 PM Author: lascivious hyperventilating shitlib antidepressant drug me too, but that was a couple of years ago. tbf, i think things have gotten a little better again. last two i've seen were two sixth years to 200-225ish jobs. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20788783) |
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Date: May 28th, 2012 9:19 PM Author: Dashing Shivering French Chef What's the story with in-house after working in Patent biglaw? Any chances at high payout in-house positions? Any common switches into other fields?
Obviously the finance/asset management options are out. |
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Date: May 29th, 2012 10:25 AM Author: Dashing Shivering French Chef Bump- id stilk like to hear opinions on this. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20785761) |
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Date: May 29th, 2012 8:11 PM Author: opaque marvelous hospital Greetings, I would think patent bros could really leverage that exp from "patent law" to "tech law" to "tech startup law" and start coppin dem stock options at startups. |
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Date: May 29th, 2012 1:45 PM Author: soggy pistol bawdyhouse lots of patent atty jobs in SV and LA but they don't pay that well.
i know patent people working at adobe who make $145k, electronic arts at $150k, and hulu make $160k (which is on the high end). bonus situation and stock options vary. this is for 4th-5th year former biglaw associates. |
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Date: May 29th, 2012 2:04 PM Author: Dashing Shivering French Chef Yikes, not too promising. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20787023) |
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Date: May 29th, 2012 2:14 PM Author: soggy pistol bawdyhouse yeah but given the significant lifestyle difference vs. biglaw, it's more than worth it. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20787067) |
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Date: May 29th, 2012 2:16 PM Author: bearded swashbuckling double fault roast beef do you actually go around asking people what they make? I'd feel weird asking that to even my closest friends. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20787073) |
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Date: May 29th, 2012 2:23 PM Author: soggy pistol bawdyhouse these are close friends who i talk to regularly about our job searches and we seek advice from one another on what jobs to take. those conversations usually include comp matters: "i have a mortgage, i don't know if i can take the paycut to x," "the job only pays x but it's only 9-6" etc.
i don't go around "asking people" how much they make. my close friends and i have no problems discussing finances with one another. |
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Date: May 29th, 2012 7:57 PM Author: silver indirect expression How many make $300k? (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20788795) |
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Date: May 30th, 2012 6:02 PM Author: soggy pistol bawdyhouse i don't know any who do...yet (most who went in-house did so in the last few years as 3rd-6th years) on the west coast. even at places like google, you start at mid-100s for a standard staff counsel position before bonuses.
TBF, i don't know the salaries of the NYC friends who went in-house at finance-type places. i assume they generally make more. i did interview for a compliance position at goldman sachs when i was a 2nd year and the salary range was $175-195k before bonuses. the catch was that the hours were roughly 8-8pm everyday which is way too much for in-house. |
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Date: May 29th, 2012 8:12 PM Author: cyan degenerate (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20788879) |
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Date: May 29th, 2012 10:12 PM Author: flickering vibrant range Most inhouse gigs pay around 120k to 160k for a BIGLAW associate with say 5-6 years experience. You guys are kidding yourself if you think 200k plus is common. It isn't.
I only think IP/patent types get that, maybe some corporates.
I'm of course talking about entry level type gigs. If you become GC, head of litigation, etc. you make a lot more of course.
But pretending it's easy to make 200k plus inhouse is insane. Inhouse lawyers are a fucking drag on companies, they don't make them any profit. |
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Date: May 29th, 2012 10:16 PM Author: beta candlestick maker Maybe 120-160k at 5-6yrs V100 biglit. But 200k plus is pretty standard for 5-6 M&A at my nyc v25. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20789750) |
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Date: May 29th, 2012 10:20 PM Author: flickering vibrant range not every one does m&a in NYC asshole shithead
and seriously, how many fucking of those jobs like that are there ITE
all im saying is the VAST majority of inhouse attorneys take a PAYCUT to join corps and they dont mind cause no more fucking billables |
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Date: May 29th, 2012 10:22 PM Author: Vengeful Resort The thread was about the "very top" exit options, not the median exit option. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20789825) |
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Date: May 29th, 2012 10:25 PM Author: flickering vibrant range nyc m&a is like .01% of fucking inhouse jobs u faggot fuckturd piece of nigga shit (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20789854) |
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Date: June 1st, 2012 11:02 PM Author: Blue stage http://www.youtube.com/watch?v=VLiqJ8-T75A (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20809602) |
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Date: May 29th, 2012 10:26 PM Author: beta candlestick maker The VAST majority of people don't get into a T6 The VAST majority of LS students don't get biglaw jerbs
but this is XO breh and, as I said, the VAST majority of lawyers at my v25 firm doing M&A, Debt Capital Markets, PE, and a few other groups are starting at 200k+ after 5-6 years.
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Date: May 29th, 2012 11:26 PM Author: lascivious hyperventilating shitlib antidepressant drug I'm at a similar NYC firm and that's also what my numbers ITT were based on.
I wouldn't say VAST majority, though. 200k+ is a pretty good outcome. |
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Date: June 1st, 2012 6:06 PM Author: Adventurous dog poop (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20807781) |
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Date: June 1st, 2012 6:11 PM Author: zippy zombie-like death wish if ur a 5th-6th year ur getting fired soon anyways cuz u aint making partner.
so yea 120k is a lot better than 0 and unemployed. |
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Date: June 1st, 2012 6:15 PM Author: Adventurous dog poop (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20807850) |
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Date: June 1st, 2012 6:15 PM Author: zippy zombie-like death wish most ppl would rather make 120k doing 9-5 hours rather than 80 hours doing 160k. shit aint a big diff after taxes anyways. (http://www.autoadmit.com/thread.php?thread_id=1958098&forum_id=2#20807857) |