M&A lawyer --> Associate in M&A advisory at IB?
Dear all,
Hi. I am new here. Thanks for having me. Forgive me if this sort of question is common around here:
I am a junior M&A associate lawyer in a decent M&A practice in New York. T10 law school, engineering degree as an undergrad (i.e., good with spreadsheets), okay grades, 26 years old.
Were I to attempt a transition into an IB as an associate in a M&A advisory practice:
Any headhunter recommendations so I can learn more about what I need to do to become a worthwhile candidate (I realize I am not a usual candidate) and find out what, if anything is available now and whether I'd be a better candidate if I do X for the next year or two (or when the economy picks up, etc.)?
For the few JDs who move into IB, any idea what an IB looks for in those applicants -- general deal knowledge? Financial knowledge picked up along the way? Merely the ability to work 400 hours a month and accept having no non-work life? A combination?
Any further advice or leads would be welcome as I learn more about whether this is possible and how to execute such move.
I appreciate any advice as I start gathering information from scratch. Thanks.
I'm in a similar position--28 with one year of BigLaw experience in a corporate practice area. Here are my observations and experiences:
1.) In this economy, headhunters are just about useless for cross-industry laterals. None of the ones I've contacted have been willing to give me the time of day or been able to find a suitable opportunity. There are simply too many MBAs and laid-off bankers looking for banking jobs. When going through formal channels, a junior BigLaw associate will be put last in line after all those guys. So, the key is to use informal channels. Network like crazy.
2.) The more junior you are, the more technical ability you'll need to demonstrate. That means: (1) understanding all the stuff the various technical interview guides go over (Vault, WSO, etc.), and (2) being able to explain the business and finance oriented aspects of the legal work you've done. If you can, take a modeling course. Doing that really helped me understand how the ideas and concepts in the guides tie together.
Also, you need to not talk or act like a lawyer (that's to say, don't behave like a social invalid). You don't want to come across as a bookish, unsociable, egomaniacal recluse. They want to see that you're smart, but also comfortable with yourself, friendly, and energetic under stress. Lawyers like to whine about their workloads and make a show of how stressed they are: from what I gather, that is the absolute last thing you want to portray in a banking interview. Lawyers tend to be negative. Avoid that like the plague.
Every single interviewer will ask you why you want to make a move. You'd better have a convincing story. It doesn't need to be complex--just convincing. I find that the tone in which you explain yourself makes as much difference as what you actually say.
On work stamina: one advantage of coming from BigLaw is that no one will question it. In fact, many bankers seem to assume lawyers work a lot harder than them.
3.) Network. Learn the lingo. Then network more. You'll get nowhere by sounding like just another lawyer who dreams about making more money in banking but doesn't even understand the job.
Thank you very much. I appreciate your input. For what it's worth, I agree with your criticisms of corporate law and they are precisely why I am interested in switching.
Best of luck in your search.
At your age, by the time you can make a move and the demand for new employees manages to untangle, you will have to transition at the VP level.
Position your experience well and as someone else said--brush up on the technical aspects. Although at this point, if you're on-track to become partner, idk why you'd jump ship. Good luck
I went to IBD straight out of law school. If you are already at a firm, it's very hard to move as a junior just because you have to learn a whole new skill set that traditional junior bankers learned coming out of school and don't offer much else. However if you work your way up at a law firm and get some experience interacting with clients and IB's it's definitely very possible. I highly recommend contacting alumni at your law school who made that similar transition. Just curious, why leave? NALP associates probably make more starting than even starting IBD associates nowadays. And a lot more job security to go around.
Corporis neque placeat ducimus labore quia ipsum sapiente doloribus. Est enim error sapiente aliquam veniam. Ipsa provident ea culpa voluptatem doloribus eos.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...