Career path advice - Engineer/patent lawyer/PRM
Hey guys. I am a patent lawyer with an Engineering background (was an Engineer for a few years as well). I will be 34 next year.
I really want to get into a Private Equity or a VC. Saw a couple of people who've gone through a "similar" path as me (without a finance background), and will likely hit them up within the next few months to get their advice. But, at least one of them has been part of a successful start up in the past.
But before I approach them, I want to get your advice. How can I leverage my qualifications to get into that role? What advice can you give? FYI, my credentials are: BASc/MASc (engineering), JD (intellectual property), PRM (professional risk manager) - with a view towards patent valuation. If I was 29 or even 30, I wouldn't hesitate to apply to the banks for analyst positions, etc. But, I will be 34 when I start applying. Issues?
Also, I will be leaving a 110K+ income in law if I make that switch - how much could I expect to make with my credentials?
Thanks. You guys are awesome.
What's your motivation for switching?
You're making 110k in patent law? What sort of Engineering degree do you have? You could easily be making at least 2-3x with a lateral to tech focused firms.
Both my BASc and MASc are in Computer Engineering - MASc with a focus on signal processing, AI, monte carlo simulations, etc. (but non-finance related).
@jojome: Motivation for switching is that I miss the numbers. :(. The practice of Engineering can be quantitative, but not "much" - especially in the s/w field (worked for a few years as a C/C++ programmer). Patent law, definitely not.
After looking at finance material, it kind of rekindled my love of math. Coincidentally, I guess, you could also make a lot of money doing it. :)
@BugCatcher: Yup, 110K in patent law. But, I should say that this is in Canada - NOT New York. :) When you say a lateral to tech focused firms, what do you mean? Can you please give some examples? And what role do you recommend that I apply to?
Thank you both!
I'm not in the field myself and couldn't direct you to specific firms, but I know a few people that entered patent law in california and are easily clearing 250k. I would imagine you'd be applying as a patent lawyer.
More so than increasing my money in patent law, I would really like to break into banking in a quant role (that can also make money). Now, keep in mind that I am in Canada and not New York - which may be similar to finding a quant job in a smaller US city.
How should I go about this - given my extensive background in Engineering and IP/patents. Patent valuation, valuating a technology, etc. are quite relevant I would imagine, especially in the VC / PE type arena that deals with small/mid level companies than huge companies. Obviously, I am targeting the tech sector.
Again, part of my question is, how do I spin my story to get a decent paying quant position at 34/35?
Thanks!
You have such seemingly solid background for Patent Law that anyone hiring you has to be very confident that you are fully committed to this new position and won't flake out after 6 months and return to the also lucrative field and supply constrained (compared to most area of law) patent practice. Also given your age and the several degrees/certs plus bar/patent bar licensure, it does not appear that you practiced all that much.
Thanks Nick. And you are absolutely right - I am only 1 year in practicing patent law. I've always worked on start-up ventures during my time at law school (sadly not as successful as I'd like it to be!) - so I've kept up my C++ programming.
Now, convincing that I am committed to a switch to finance I don't think is a problem - I can spin a good story if I have the person in front of me. How do you suggest that I go in getting that face time with the correct people? And what kind of positions should I apply for with the view of getting into VC / PE in 3 years time lets say? Essentially, who do you think will give me 140K+ salary (small market - not NY), where my qualifications would give me a solid leg up over some 23 year old kid straight of business/engineering degree - or someone 5 years younger than me with real finance experience?
Of course, what I possess is a strong quantitative background + pro-level C++ programming experience + patent law background + knowledge of risk management (PRM). What I am lacking is direct finance industry experience.
Thanks!
Bump.. Any further advice from anyone? Thanks!
I will start cold calling people probably within the next few months. If you have any recommendations as to what area I should push into given my end ambitions (PE/VC), please let me know. Again, my biggest concern is age (will be 34/35). I've heard mixed responses - would love to hear yours as well.
Thanks again.
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