Biglaw to PE
Question: is my transition directly into PE realistic?
I am currently finishing my 1st year in BigLaw (top 10) in the PE transactions group, I have an MBA, CPA and 3 years work experience in Big4. I did 2.5 years in Audit and the other half year in the transactions group before leaving for law school. My undergrad and MBA are from the same small, non-famous school and Law School is top 30.
My plan is to start really training my technicals and network heavily with our clients so when the time comes for an interview I am prepared for this transition. I was aiming to start applying within a year to really get some practice with modeling and have a strong network. Is this a realistic plan? What else should I be focusing on for the next year and is a year really enough to start making the transition? Would IB be more realistic even though I know I want to end up in PE?
It aint happening
Agree - it would be challenging. You could look to join the Capital Markets team at a PE fund
I did a 4-year JD/MBA outside of the T6 but didn't practice (beyond 3L summer). Went to an LMM growth/buyout firm after - note that this was when the market was not horrendous + I got very lucky that a partner had worked with a JD/MBA as an associate and was a big fan. Also had an offer at a V5 after law school.
Answer: close enough to 0 that it's basically 0. Someone could be interested but 1% chance. Getting close-ish to 1% would require you - in my view - to move to a good restructuring group. Still practically non-existent odds though.
Things that aren't 0? Consulting or banking. If you're really desperate to get out of law - would recommend giving yourself 2-3 years to network into 1 of the above. Saw enough classmates do this that I know it's definitely possible (though the market is atrocious at the moment). Again, going into RX law likely helps here - can sell this to RX consulting or banking. If that doesn't work, you could go for an MBA (though ofc absolutely massive opportunity cost at that point - could be mitigated if you did INSEAD or another ~12 month program).
Startups - particularly legaltech - are also a possibility. Don't recommend frankly - have seen friends go to these after biglaw and the comp/outlook is pretty trash. The work is also always kind of boring/legal in nature - even when some of these friends took on quasi-PM roles. Exception is if you go to a Harvey or something similar.
My reco - give biglaw ~4 years while continuing to attempt to break into banking or consulting. Save hyper-aggressively - if you build a capital base, you can open some interesting entrepreneurial things for yourself. Or, with ~$500k+ in the bank and most of your debt (if any) paid down, doing an mba at 33 might not be so bad. You'll get a decent school (ideally with some money) and should be able to cruise into a decent consulting or banking career at a minimum. While your earnings trajectory is probably worse if you do so (esp if you are an above-average lawyer - in IB/consulting, you're at high risk of being axed and on your way to F500 corpdev within your first 2 years), I know all too well how soul-crushing the content of legal work is. Might not seem all that rational to MBA it up after law school to most here given financials but, in my view, would be a totally understandable decision given you'll still get paid very well after.
Also OP already has an MBA
it's doable, though you might need some consulting experience first hand. there is this international girl at a MF in NYC who worked as a lawyer with her JD
It’s going to be really tough even with an M&A legal advisory background. The skill set and perspective you develop at a law firm (even in financial transaction advisory) are almost irrelevant in private equity and funds don’t prioritize your experience and knowledge in legal/tax than previous finance/investing experience (they can basically outsource them by hiring lawyers)
Placeat laboriosam quia sapiente dolorem dolore. Tenetur ut doloremque culpa mollitia nesciunt beatae qui. Illo et cum aut fuga et ut nemo. Et sint illum non incidunt. Nemo id similique voluptatum delectus fugiat et aut.
Ipsa sed qui accusantium autem eveniet consequatur. Exercitationem laborum autem incidunt. Nihil sequi autem id dolor aspernatur illo laborum. Voluptatem quis necessitatibus nulla eum. Fugiat velit id aspernatur nemo mollitia laborum.
Omnis quos eum libero impedit facilis blanditiis. Rerum accusamus ex minus error fugit molestiae. Sunt omnis veniam rem adipisci sit neque.
Adipisci quisquam sunt consequatur deserunt quis. Consequatur alias dolorem deleniti consectetur temporibus corrupti ipsa sit. Doloremque eum esse maiores ut. Laudantium et rerum accusantium tempore soluta libero ut. Ipsum nesciunt optio inventore et cum ullam. Voluptas tenetur ipsum est non ipsam.
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...