Would you rather be an Accounting Partner or a Law Partner?

Out of curiosity, which would you rather do?

Law partners earn more but they work more

Accounting partners earn less but they get way more free time during the summer.

Thoughts?

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Comments (24)

Nov 17, 2018

Law Partner 100%. More prestige, more interest work, higher pay, better exit opps. It really is not a context - and this can be seen by the quality of students who choose to enter law vs accounting

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Funniest
Dec 7, 2018

Will you walk up to an accounting partner and say haha, your job is not as prestigious as law partner's?

And what kind of "exit opps" do you think either law or accounting partners need? Lol.

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Dec 7, 2018
financevietnam:

And what kind of "exit opps" do you think either law or accounting partners need? Lol.

Lmfao he has to be trolling

Dec 7, 2018

"It's really not a context..."

probably up there with cut off your nose to spiderface.

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Dec 7, 2018

Haha I wiffed that.

This is what great trolling looks like, hat tip to comment OP.

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Nov 17, 2018

This forum has a tendency to lump in non-finance careers into overly generalized buckets (e.g., lawyers work as much as bankers but get paid less (I know very few lawyers in Big Law who work as much as their counterparts in banking), or go into tech sales and you'll make $500k while working 40 hours a week (I know no tech sales guys living this lifestyle).

The answer to this question will vary a ton depending on the type of law or accounting you're engaged in. Being a partner at a corporate law vs. commercial real estate law vs. commercial litigation firm, and being a partner specializing in audit vs. tax vs. transaction advisory will result in vastly different lifestyles, compensation, exit options, "prestige", etc.

If you're asking if it would be "better" to be a law partner or accounting partner if both were to specialize in transactional services (e.g., a corporate/securities law partner vs. a transactional advisory accountant), then I agree with the poster above me in that the lawyer will have more "prestige", more interesting work (arguable depending on what your personal preferences are), higher pay, and better exit opps.

Dec 8, 2018

Transaction advisory covers a lot of stuff... while Financial Due Diligence is more "accounting", Lead M&A Advisory/Corporate Finance is MM IB, Valuation guys do a lot of modelling, Strategy guys do the market entrance/market research stuff, and there's also Restructuring teams (which I heard they suck).

I'd rather work as for a M&A/valuation team at a Big 4 than as a lawyer specializing in M&A.

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Dec 11, 2018
GuyLafleur:

I know very few lawyers in Big Law who work as much as their counterparts in banking

yeah but I've heard its crazy hours at WLRK

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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Nov 30, 2018

loving partner
partner in crime
https://allthatsinteresting.com/thumb/800.422.https://allthatsinteresting.com/wordpress/wp-content/uploads/2017/10/bonnie-clyde-death.jpg

heister:

Look at all these wannabe richies hating on an expensive salad.

Most Helpful
Nov 30, 2018

who gives a shit

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Dec 7, 2018

I'd rather jump out of my office window than be a lawyer or accountant..

Christ, that is like asking "would you rather die by drowning or burning."

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Dec 7, 2018

hahahaha dude you got ISSUES

Dec 7, 2018

What are exit ops for both of these positions? Partner at bigger firms? Start their own firm? C-Suite at F500? PE/VC/HF high level support?

Don't beat yourself up on this, Eric. Some people like taking the long way home. Who the fuck knows?

Dec 7, 2018

reminds me of of in high school/college when people would debate who was cooler, lacrosse kids or golfers.

I feel like lawyers are like lacrosse players, and accountants are like golfer (I played golf in college). I feel Lacrosse/lawyers players across the board are probably better, but golfers/accountants have a wider range.

Dec 7, 2018

You must get laid a lot

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Dec 10, 2018

Partner in assisting Investment Bankers

What concert costs 45 cents? 50 Cent feat. Nickelback.

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Dec 10, 2018

But why do either when you are already working for Google, automating the destruction of the Chad class?

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Dec 10, 2018

How is this a question? Law

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Dec 10, 2018

There's a reason top government officials end up being law partners rather than accounting partners, and it's not because they are particularly bad at math.

Dec 10, 2018

Trust fund billionaire seems like the better option.

Dec 11, 2018

The exit opportunities from top law firms are generally very good at the partner level, and even the senior associate level for almost-partner quality associates.

-Go from one white shoe firm to another that pays more based on revenue generated.

-Pass through the revolving door to government, frequently to work on high-profile and important public interest work squarely within your domain of expertise. You can always come back to your home firm afterwards, which will more often that not keep your seat warm while gone.

-Depending on the type of work, leave the law firm to start a fund, join a fund, make some carry (this happens a lot at higher levels - all the "deal guys" that strike out on their own need structuring/execution pros, and frequently at that level of the game the need to crunch models is not at all the most important thing anymore).

-Bankruptcy lawyers frequently leave to work in Rx

-M&A Lawyers leave to work in M&A/Corpdev

-Retire. Most law firms keep their retired former partners on a comfortable salary and give you an office to come and go from as you please. They get to tap you for expertise in a low-intensity way when needed, you get to make income and be professionally engaged in your old age on your terms. It's a win-win.

The list goes on. I can't speak much for accountants, only to say that the few I met left to become lawyers due to better pay and more interesting work.

Dec 11, 2018

Law partner. Work is more interesting

Dec 11, 2018
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Dec 11, 2018