Leveraged Finance Lawyer to IB
Is this a possible move? Have you seen others make the same move as senior associates or partners to the banking side? Not in legal roles. Mainly business like origination and execution of deals. Thanks!!
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Based on the most helpful WSO content, it's definitely possible to make a move from a Leveraged Finance Lawyer to Investment Banking. I've seen people lateral from senior associate roles at top law firms into banking. They usually have a good understanding of the legal and commercial aspects of deals, which can be a great asset in origination and execution roles.
However, it's important to note that this transition might not be a walk in the park. It requires a solid understanding of the financial aspects of deals, which might not be a part of your current role as a lawyer. You might need to brush up on your financial modeling and valuation skills, for instance.
Also, keep in mind that the work culture in banking can be quite different from that in law. The hours can be long and the pace can be intense. But if you're passionate about making the switch, these challenges can definitely be overcome.
Remember, every monkey has to start somewhere, and with the right preparation and mindset, you can certainly make the leap!
Sources: Q&A: Leveraged Finance Lawyer here, Big Law (M&A) to IBD Associate, Banking to Law?
ive made this move, before moving to m&a at an elite boutique. the better your law school and firm, the easier the move will be.
your goal will be convincing people that you are reasonably comfortable with numbers, understand how businesses work, and can work well in teams.
i would network with bankers you’ve worked with on deals. these moves are easiest during hot hiring markets. you may have to wait another year or two.
Considering this, currently in law school. Mind PM'ing me?
Yes. It is entirely possible. Blankfein went from being a lawyer to a trading desk to the CEO of Goldman. Roberts (the R in KKR) went straight from law school to Bear. Bonderman was a lawyer before TPG. I can keep going as the number of bankers and PE professionals who were previously lawyers (and are big swinging dicks) is massive but going from being a lawyer to being a banker is absolutely a viable path.
It will be much harder for you though. You basically get one “benefit of the doubt.” You will get only one time where you are allowed to be less than the stereotype of the perfect candidate and that gets used up by you being a lawyer. You need to know the technicals. You need to be a good interview. You need to network. But if you take the time to prepare, you absolutely can do it.
Also, as an associate at your law firm you will almost guaranteed to only be a good fit for associate roles at a bank. If you look for a lev fin IB role you may be able to swing a vp spot but your best bet would be for associate roles.
it is 100% inconceivable that any reputable bank would allow a lawyer to start as a vp, based on the 15+ cases i know personally (including mine). some banks might push you to join as a senior analyst. maybe if you have 4+ years experience, they *might* let you start as an Asso2.
ive seen lots of junior law firm associates join as Asso1 and 1-2 partners join as MDs
Good luck
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