London Biglaw vs. IB - Comparison
Currently a final year LLB student at a low target (not Oxbridge/LSE). Did IB last summer at a small shop and have have some equity research internship experience. I'm currently recruiting for this summer, in some processes at some MM banks, smaller PE firms and T2 consulting. Also did a vacation scheme at a US BigLaw firm last year but didn't convert to TC, and have done some legal internship experience at a respected AM. Will be applying to vacation schemes/training contracts alongside finance recruiting for this cycle as well.
I am trying to weigh my career options as a lawyer vs. banker/finance professional long term. Having had some exposure to both industries now, I can honestly say that I enjoy the work of both sides and, unlike many on this site/honestly IRL, I don't believe I would hate my job as a commercial lawyer running in a PE/M&A/Rx practice. Comparatively, I will probably have a better shot at landing a top US/UK law firm vs. recruiting for a EB/BB unless I do a target Msc Finance, which is expensive and not a guarantee by any means. However, the opportunities on the buy side long term in finance intrigue me enough to want to consider an early career move into banking, even it it means I start at a smaller shop initially.
If I land a US or top UK Biglaw TC and qualify, what is my path back to finance if I want to eventually move into a buy side role (or even top IB)? Fortunately I don't have the problem of not having any technical/financial modelling/accounting skills or knowledge, being that i've already done that (albeit at an intern level), so what does that transition look like? I've seen some advice but it appears to be more US centric, so curious if that extends to the UK and in other geographies (HK, Dubai etc).
Money and debt is also a unique distinction it seems between the US and UK, as I wouldn't be saddled with the student debt that most US law graduates have but still have 2 years of making very little + 1 year of SQE study before I start earning the 170k GBP/225K USD full 1st year associate salary in Biglaw. I've ran comparisons with banking and honestly the career earnings are similar at most levels. But the prospect carry being the X factor if I can pivot to the buyside changes the equation.
Any thoughts?
Would be v difficult to move back into finance unless the market is really hot (like in 2021)
Why? I see people do it all the time and very often in RX
What market/geography?Are u referring to US or UK
bump
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