• Sharebar

As my name states, I am a miserable JD. Top-ten law grad on a one-year deferral from big law, with the increasing likelihood of a prolonged job search floating on the horizon (i.e., Unnamed Firm to Miserable JD: Drop Dead). I’m looking to escape this ignominious fate; I want to change sectors.

So does passing the CFA Level 1 give me a legitimate shot to get a financial analyst position (I want to avoid paying for a top 10 MBA)? A job with a small fund or bank would be sweet. And don’t get me wrong, I'm not looking to waltz into Barclays or Goldman.

Oh all-knowing masters of the universe, help this poor, floundering scrivener!

Feel free to insult my intelligence for getting such a worthless degree. Your ridicule is well deserved.

Apply to Top Wall St. Jobs

Comments (24)

  • miserableJD's picture

    I'll have to study my ass off and review all the accounting and finance stuff I haven't looked at in a while. But even just getting past Level 1 can help someone with my background?

    Thanks guys, appreciate the help.

    And my bad for not using the search function---I'm new to the website.

  • mr1234's picture

    wow. just wow. what is up with this shit?

    i have friend, graduated form a t3 law school, got a an offer in 2009 for corp law, and is kicking it back at home b/c her start date got deferred to 1/2011. i have a another friend, she graduated from t10 law school in 2010, didnt get a summer job and is now back at home, working an unpaid internship for the public defender, and this was a person who was BADLY seeking a corp law job. i see the same story again and again on these forums. and not to mention all the young people i know who are going to third tier toilet law schools b/c they dont know what to do with their lives, so they think, 'o, i guess ill be a lawyer!'.

    to the original poster: i honestly dont think you are doing yourself a favor. i mean thinking about it from the perspective of an employer...you spend all this money and time on law school only to figure out that finance is your passion. it doesnt make you look intelligent. no offense, but if i was an employer, that is EXACLTY what i would be thinking.

    i think the smartest thing for you to do is to stick with law. you will make more as an associate in big law than as an analyst at a bb ibank. and you already have a job, youre just deferred. you realize all this, right?

    i was thinking about going for the cfa, too. take a look at what i discovered about the job prospects in the asset management business:

    http://www.wallstreetoasis.com/forums/all-three-le...

    ---
    man made the money, money never made the man

  • In reply to mr1234
    BretEastonEllis's picture

    mr1234 wrote:
    wow. just wow. what is up with this shit?

    i have friend, graduated form a t3 law school, got a an offer in 2009 for corp law, and is kicking it back at home b/c her start date got deferred to 1/2011. i have a another friend, she graduated from t10 law school in 2010, didnt get a summer job and is now back at home, working an unpaid internship for the public defender, and this was a person who was BADLY seeking a corp law job. i see the same story again and again on these forums. and not to mention all the young people i know who are going to third tier toilet law schools b/c they dont know what to do with their lives, so they think, 'o, i guess ill be a lawyer!'.

    to the original poster: i honestly dont think you are doing yourself a favor. i mean thinking about it from the perspective of an employer...you spend all this money and time on law school only to figure out that finance is your passion. it doesnt make you look intelligent. no offense, but if i was an employer, that is EXACLTY what i would be thinking.

    i think the smartest thing for you to do is to stick with law. you will make more as an associate in big law than as an analyst at a bb ibank. and you already have a job, youre just deferred. you realize all this, right?

    i was thinking about going for the cfa, too. take a look at what i discovered about the job prospects in the asset management business:

    http://www.wallstreetoasis.com/forums/all-three-le...

    Yeah. I guess I just don't see myself crunching numbers for the rest of my life while someone above me stacks more chips. And yeah, pretty sure Blankfein has a JD from Harvard.

  • In reply to BretEastonEllis
    mr1234's picture

    BretEastonEllis wrote:
    mr1234 wrote:
    wow. just wow. what is up with this shit?

    i have friend, graduated form a t3 law school, got a an offer in 2009 for corp law, and is kicking it back at home b/c her start date got deferred to 1/2011. i have a another friend, she graduated from t10 law school in 2010, didnt get a summer job and is now back at home, working an unpaid internship for the public defender, and this was a person who was BADLY seeking a corp law job. i see the same story again and again on these forums. and not to mention all the young people i know who are going to third tier toilet law schools b/c they dont know what to do with their lives, so they think, 'o, i guess ill be a lawyer!'.

    to the original poster: i honestly dont think you are doing yourself a favor. i mean thinking about it from the perspective of an employer...you spend all this money and time on law school only to figure out that finance is your passion. it doesnt make you look intelligent. no offense, but if i was an employer, that is EXACLTY what i would be thinking.

    i think the smartest thing for you to do is to stick with law. you will make more as an associate in big law than as an analyst at a bb ibank. and you already have a job, youre just deferred. you realize all this, right?

    i was thinking about going for the cfa, too. take a look at what i discovered about the job prospects in the asset management business:

    http://www.wallstreetoasis.com/forums/all-three-le...

    Yeah. I guess I just don't see myself crunching numbers for the rest of my life while someone above me stacks more chips. And yeah, pretty sure Blankfein has a JD from Harvard.

    but did you also know that lloyd blankfien's ambition was to be a supreme court justice? he even mapped out his life for how he was going to get there. then he started working for j aron, he was commodities broker. the only reason he was employed by gs is bc gs acquired j aron.

    anyway, i think in the past, getting into ib from big law wasnt as tough. the environment wasnt as competitive and ib wasnt as lucrative as it is today. but ib recruiting has become very much institutionalized. the only way to really 'break in' with out experience is through on campus recruiting, either through under grad or grad school. and ib rarely hires from law school campuses. again look at it from their point of view...dudes with firm jobs for big law usually get paid $160,000 starting, and with huge upside after. why bother competing with that, especially when those dudes dont have the skill set your looking for.

    ---
    man made the money, money never made the man

  • In reply to BretEastonEllis
    mr1234's picture

    BretEastonEllis wrote:
    I'm just saying you can do more with a law degree than be a lawyer. At least it proves you can think, unlike an MBA program.

    if your making at least $120k starting in nyc at big law, why would you want to be more than just a lawyer?

    if i had a nickel every time i heard a law scgool student say, 'you can be more that a lawyer with a law degree'...so youre going to law school but you dont want to be a lawyer riiiiggghhhtttttttt. i fail to see the logic in that. yet, i hear it a lot. its like mit engeneering majors, i heard something like 1/4 of mit engineering majors end up working in finance. there is a problem with this way of thinking.

    ---
    man made the money, money never made the man

  • TNA's picture

    Start looking for jobs in Europe because that student loan bill is going to come due way before that CFA level 1 is passed and once your loans go into default kiss your life goodbye. If you don't have any loans then start hiding from your parents because if my kid made me piss 7 years of college tuition down the drain I would cut his balls off.

    Banking is not that much more intellectually stimulating then law. Go defend people from debt collectors, with this economy you will be in huge demand and because your clients credit sucks you can deal only in cash. Ca Ching!

  • BretEastonEllis's picture

    Whatever. My point is I don't think a law degree is as huge of minus as its being made out to be.

    To the OP: I think if you passed level I of the CFA it would be favorable and give the impression that you're serious about switching careers. Honestly though, are you really sure you want to do finance man? I know you got a deferral but why the fuck get into this industry now? If I could go back I wouldn't have wasted time on this shit during my college years.

  • TNA's picture

    One more rant, if you have a JD and pass the bar you basically have your own little business. Man, I could make so much money on my own if I was barred. I read an article about people who decide to stop paying their mortgage right. Well they pay a lawyer like 1K and he files a shit load of paperwork and basically drags the process out for around 2 years. Gives the owners (deadbeats a free year or two, rent free). You could clean up.

    Stop thinking I can't get a job and realize you have something with a high barrier to entry and a skill which people will pay for. Shit, stand outside court and defend people for 50 bucks. I have 2 tickets from the fucking PPA and a NYS speeding ticket you can come fight for me if you are bored.

  • In reply to TNA
    BretEastonEllis's picture

    AnthonyD1982 wrote:
    One more rant, if you have a JD and pass the bar you basically have your own little business. Man, I could make so much money on my own if I was barred. I read an article about people who decide to stop paying their mortgage right. Well they pay a lawyer like 1K and he files a shit load of paperwork and basically drags the process out for around 2 years. Gives the owners (deadbeats a free year or two, rent free). You could clean up.

    Stop thinking I can't get a job and realize you have something with a high barrier to entry and a skill which people will pay for. Shit, stand outside court and defend people for 50 bucks. I have 2 tickets from the fucking PPA and a NYS speeding ticket you can come fight for me if you are bored.

    Not to mention you can live anywhere in the country.

  • Midas Mulligan Magoo's picture

    OP,

    I don't want to make it seem like I'm shitting on you. But you acting like a lil bitch right about now. Yes, I get that its rought for recent law grads. Fyi, my boy edited his school's review, had a 174 lsat prior, kick ass internship, etc...making 60K right now....it is what it is. The options out there for a lawyer are ENDLESS. The attitude you're exhibiting is one of a person who was expecting 190K and a corporate expense account 2yrs out of LS. Those days are done, my advice, buckle down and start hustling, or HUSSLIN' if that makes it more clear. Find customers, provide counsel. you got some good advice up top from AnthonyD.

    A lawyer with a little moxie and creativity can make a shit load of dough and work across multiple fields, your options are always open. Hell, work for the damn government if you have to. It's clear from your doormat attitude that you are looking for a career that will give your life meaning. Finance won't do it, nothing will. Think it over long and hard. Best of luck and remember...anybody who told you that anything worthwhile came easy, pulled a fast one on you...if you believed them.

  • In reply to TNA
    BretEastonEllis's picture

    AnthonyD1982 wrote:
    What do you mean live anywhere in the country ? If you are barred in one state you can only practice in that state unless there is a reciprocal agreement ( that last part I think is completely wrong, but it sounds like it might be right)

    I meant practicing law in the sort of half-assed way you suggest. God, why the fuck is everyone on this board so fucking aggressive about calling people out on minor shit?

  • In reply to BretEastonEllis
    mr1234's picture

    BretEastonEllis wrote:
    AnthonyD1982 wrote:
    What do you mean live anywhere in the country ? If you are barred in one state you can only practice in that state unless there is a reciprocal agreement ( that last part I think is completely wrong, but it sounds like it might be right)

    I meant practicing law in the sort of half-assed way you suggest. God, why the fuck is everyone on this board so fucking aggressive about calling people out on minor shit?

    finance types tend to be 'detail-oriented'....

    ---
    man made the money, money never made the man