Leaving IB for law...am I nuts?
Been at a BB for 2 yrs, analyst, accepted to a 5-10 b-school, but after long thought have decided to go to law school instead and work M&A...am I nuts? My LS is in the 15-20 range (the LSAT is a killer) and I've saved up a reasonably chunk of $$ so debt wont kill me to bad. (As a side, analysts, don't spend like crazy. I thought the $ would keep flowing and I'd be doing this forever. In hindsight I would have liked to have saved much more). It's not that I disliked finance, I enjoyed the action that comes with it, being able to call myself a banker, and the $$ was obviously a big perk but I feel like I want something a little more stable. I've thought about this long and hard, and taken alot of shit from my peers (turning down 5-10 b-school for 15-20 ls??) but it just seems like the right move. I guess I'm always going to "second guess" it because I'll never know what could have been in banking, but like I said law provides me with a lot more stability, and slightly better hours (I use better cautiously). I used to lurk this forum alot, haven't been to it in a LONG time, but was just wondering what everyone thinks. Am I nuts in doing this?? I feel like sure, I could make some good $$ as an associate, but I dont think I love it enough to progress up to VP or MD status.
Well, it seems like you already made the decision. We can only make you feel good about it or regret it. I guess the only thing you can do now is look forward and see how you like the study of law. I heard that the lifestyle for corporate law isn't that much better than banking, though.
Yes, you are certifiable.
Dude, BigLaw is just as bad as banking.
I deal with blue-chip lawyers every day. The hours are just as insane and the work is just as tedious. You don't do numbers and models and pitch books. You do legal documents. Reams and reams of documents. You hate Excel now -- soon you will hate Word.
Compensation is higher base but much lower bonus. You've probably already checked out www.abovethelaw.com - my sources say it's more or less accurate.
You should do ok with recruiting, however, you will obviously not have the same advantages as a top 5-10. If you want to get in the top NYC firms, you'll need work your ass off to make law review.
Is law actually as stable as banking? I initially did think about being a lawyer back when I was in high-school, but from the research I did it seemed like if you went to a school outside of the Top 10 getting a job was still extremely competitive and not guaranteed.
Wow, generated some responses. To clear some things up
1) I do not plan on practicing in NYC. I've talked to associates in the city I plan on practicing and they said they normally work 60 hours a week...some weeks you will work 40, then some 80, but on average about 60. This is nothing compared to what I've been doing.
2) I turned down a few T14 law programs to go to my 15-20 mainly because I liked the school much more. I've always been a workhorse and top half of the class is almost guaranteed a biglaw job so I don't see getting one being a problem, assuming I put in the work that I always have both in and outside of school.
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