Does law make sense?
Has anyone here thought about doing / done T14 -> biglaw after working for several years? Thinking about going down this path but curious if anyone has done it.
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open my profile and read my last discussion on law
I would be looking to do law after several years in MO credit risk (credit memos / ongoing monitoring for bank's leveraged loan book). I have learned a fair bit but if I were to look a few years out I know 100% I would be bored doing this and long-term comp is obviously very limited. What I do have is a high (177+) LSAT so thinking of parlaying that into T14 -> debt finance / RX (hopefully with scholarship). My calculus is that I am essentially doing paperwork but would have the option to transition into another related field doing paperwork (writing memos for bankers' deals vs. papering CA for bankers' deals) but with significantly better comp runway. I also wouldn't be super opposed to law school (may be interesting on an intellectual level) and could meet interesting people assuming I avoid the lib arts KJD crowd. I'd think my alternative barring law school would be MM PC doing 1L unitranche stuff (not too cerebral) but also afraid I would get pidgeonholed into portfolio monitoring given lack of legit LevFin execution experience. That's kind of how I'm thinking about it but would be curious if that background color changes your view or if you think this path doesn't make sense.
If you're downside concerned i.e., this is the best you can do, and you see no way to move to a FO role / network yourself into MM or smaller firms
+ if you don't care about anything else besides long-term career compensation
then, sure, go for it. The only caveat is that you need to keep a flawless GPA + get into a T14 school to get into biglaw + be more than sure that you'll want to stay only in biglaw (in-house is a huge intellectual and compensation downgrade) + you'll tolerate the work + assume you won't burnoung working 12-14 hours day for as long as you're gonna be in biglaw (which not many tolerate it, and it's why they exit to those shitty in-house roles capped at 200k)
if you want to practice what lawyers do, especially banking/finance, take for example this loan https://www.sec.gov/Archives/edgar/data/1471443/000119312511153384/dex1031.htm and think that you want to draft it for another entity, so pull the other entity's corporate information + think that you're representing the lender and you want to offer the max. protection to the lender across all clauses. That's part of what RX practice do: drafting loans for distressed firms (on the most exciting side)
on the worst side you're drafting all the documents on a chapter 11. Pick every type of document here and imagine you'll have to draft those based on precedent by changing some details for each entity/circumstnaces: https://restructuring.ra.kroll.com/firstbrands/Home-DocketInfo
hope you enjoy it :)
I would not recommend this unless you get into Harvard or Penn and do a JD/MBA on scholarship, and also don’t mind doing nothing tangible for three years to provide you with any hard skills, and unless you’d somehow enjoy befriending a bunch of English and philosophy majors you never would have spoken to in college because they suck, and losing your income for three years.
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