I’m heading to be an inbound investment banking analyst at a mid-tier bulge bracket bank or investment company (think BAML, Citi, Barclays). I majored in finance in college, and enjoy finance, but at the same time I’m also wary of the extended hours and stress involved with bank. I’m also not completely confident in my ability to exit to industries like PE, VC, or HF, given how competitive these are. That leaves me with staying in banking for the long run, which I’m not sure I want to do. Thus, I used to be contemplating working at my bank for 24 months before deciding on law school, getting accepted to a T14 ideally, and working in BigLaw ultimately.
Any thoughts as to what I will do? I’ve heard that lots of more lawyers change over to banking than vice versa, so I’m a bit hesitant about my current plan. Am I setting myself up for a rude awakening by attempting to make this changeover? GPA, and plan on studying for the LSAT throughout this summer. Dealing with a lot of debt to attend law school thankfully is not a huge issue for me personally, as my parents have decided to cover my tuition easily get accepted to a high law college. Would really be grateful for any advice or listen to the stories of people who have experienced the same issue as me.
Many thanks to all! I know somebody who made the switch from a lesser BB IB to Columbia Law. He’s a middle level at a V5 now also enjoys regulation more than banking. The choice really should come down to what you’re proficient at and where you eventually want to get rid of up.
The above-mentioned person hated the “sales” facet of bank and preferred digging into the weeds on the models and the docs. He also hated the crass commercial stresses of investment bank and wished to be in a role where he could actually be a true strategic advisor to his clients.
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Moreover, he’s gunning for a partner and is assured that he has a far greater shot at making it in regulation versus making MD at an IBank. Exactly what does this mean for you? First, you need to think about whether your curiosity about rules is genuine or motivated primarily from your parents/fear of not having the ability to exit to PE/HF.
It’s compiled by Cravath alum and it does a great job of breaking down the docs and what an M&A lawyer actually will. Second, you should weigh the disadvantages and pros of each occupation and determine which noises more desirable to you. The key reason why so many corporate law associates want to move to banking is basically because they didn’t, you should think about this question before going to law school. I will say that choosing rules over banking because of “prestige” is misguided. Working at a high rules company is simply as esteemed as working at a high bank or investment company, but the nature of the work is different quite. Your task is to determine that you would enjoy more.