Lol at people who complain about biglaw like it's hard. You are a pussy.
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Date: October 24th, 2019 10:06 AM Author: Exhilarant plum university black woman
I love the "it's stressful!" complaint
All professional jobs are stressful. Most don't pay anywhere near what biglawyers make.
The work actually isn't that stressful either. No pressure to bring in business until you're a higher level associate. You're basically getting paid 200-300k to do homework assignments.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39020561) |
Date: October 25th, 2019 1:07 AM Author: light massive garrison
ITT idiot junior/midlevel burnouts from Reed Smith. Same kind of babbling mouth-breathing 1Ls who used to say shit like "law is just copying/pasting" who washed out after 6 months or never made it into biglaw in the first place.
A top firm practice in a group like M&A or PE is extremely stressful and hard.
Remember what it was like taking an exam in school? That's V5 every single day, multiple times a day. Basically everything you do is a quiz or exam and you're expected to get an A every time. Let me illustrate:
1) Negotiations with X target and their lawyers, with your Y PE client. You've spent the last 2 days marking up the document and advising the client (who are sophisticated and can tell if you don't know what you're talking about) on what you think you can get away with. You're finally in the conference room. The target's lawyers are going to fight everything you say, and your client is staring at you and ready to move on to the next Vault firm if you can't extract from the target the terms that they want. There's minor crap you have to worry about like talking a 5% indemnity cap up to 100% and coming up with a good justification, or trying to turn the locked-box into some form of working capital adjustment. In the back of your mind you know you'll probably just end up at "to be further discussed" and you'll spend the rest of the day coming up with alternative language that you can compromise on, and then you'll have to have the same discussions and fight over the same issues with the client and the counterparty again.
All the while, your phone is blowing up with Z client asking when you're available for a call to discuss the purchase agreement on their deal, A junior asking you to review their work, B partner asking you to help out on their deal, C counterparty chasing you for comments to their draft and D wife asking if you're free for dinner on Thursday with her parents.
2) A very experienced M&A client asks you to mark-up 3 documents by tomorrow. You have to spot all the right issues, get specialist input, manage the team and manage your real-life, all under extreme time-constraints and try not to make any stupid mistakes. You also have a call with lawyers in another country so you'll be in the office late due to time zone differences, and then you have to also write about 20 emails answering random questions about the deals you are currently working on or coordinating the work with your team. You have to take a dump, haven't had lunch yet (it's 4pm) and could use some more coffee. Good luck.
1 and 2 happen every single day.
I'm not saying this stuff is glamorous, important or even "normal." But for you all to sit there and assume that biglaw = quietly sitting behind a desk and doing a half-assed job drafting one contract in a bubble, that's ludicrous. At the top-end of biglaw it's extremely demanding and the standards are very high.
If there are any other M&A masterminds here, I think you can all relate to actually "starting your day" at 6pm after you are done with hours-long conference calls or meetings, and staring at the pile of work you have to do by the next morning.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39024432) |
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Date: October 25th, 2019 1:21 AM Author: light massive garrison
And one thing juniors or mid-levels who fled biglaw to go inhouse early never realize is how important IQ is to the job and how you have to keep studying.
In negotiations case law comes up all the freaking time when dealing with validity or enforceability of bargaining positions and you have to know that shit. Examples:
-We don't want to be subject to good faith requirements, so let's get out of New York law. Give us some suggestions.
-Wait what's the caselaw on the enforceability of termination fees in New York?
-I don't like this liquidated damages provision, seems like it would be unenforceable in Delaware. Thoughts?
-Which governing law do you propose that would permit this non-solicitation clause?
-We think this put option premium would be enforceable, do you disagree?
And when you negotiate you are often asked on the spot to illustrate your proposed wording so you need to be able to think quickly on your feet and come up with something intelligent that works and addresses the concern. I'm no genius, but I'm HYP + HYS and I still find my job really fing hard on a daily basis.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39024468) |
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Date: October 26th, 2019 10:15 AM Author: startled vivacious dilemma degenerate
You made it because of your 115-125 IQ, a complete lack of interest in anything that life offers other than money and possibly prestige, and yes, because of your work ethic, which is why you're probably some service partner who will bill 2,200 hrs for the next decade. You're nothing more than a paper pusher.
Yes, legal docs are more complicated that the forms that compliance monkeys fill out, but you're fooling yourself if you think your work product is inherently difficult. People burn out of biglaw because they don't actually give a shit about the substance in the documents. They don't take notes about what the market is on the indemnities sections. That's the real reason why you made it.
The difference between you and burnouts is that you actually gave a shit; you were the autist who spent countless hours mastering purchase agreements, learning how Section 9.2 interacts with 7.6. That doesn't make you smart or better than them. In fact, as someone who thinks that there's more to life than work and sees law as just a means to an end, I would say you're the dumb one. You'll wake up one day and realize that you wasted decades on mastering agreements that nobody gives a shit about other than you.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39029478) |
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Date: November 1st, 2019 2:48 AM Author: light massive garrison
Except they don't.
You give them an SPA to markup by tomorrow, and so they'll read through clauses like the indemnification clause and not even think to consider enforceability under the governing law.
I've worked with many midlevels and I've never gotten a markup back where they've identified a valid enforceability concern (other than the really basic stuff like non-solicits or termination fees). They'll markup a Delaware document like a New York deal, or a New York document like a Delaware deal.
Now if you pose the question like a quiz format, i.e., "is this enforceable" then they'll probably be able to do some quick research and come back with an answer, but that's completely different from being able to know that this is an issue and have the answer ready during face to face negotiations where you cannot say "let me get back to you."
To give you another example - let's say I've proposed a 50% indemnity cap on a New York governed law document. You think it's high. How are you going to push back? Say "it's not market practice?" Lol I will run a train through you if you say that. "Sell me on why you think 5% is more appropriate than 10% or 20% or 50% i.e., how you're not just picking an arbitrary number, go." Watches you flail in front of your client like an idiot.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39056236) |
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Date: October 26th, 2019 7:27 AM Author: light massive garrison
You mean why there are like 30,000 law school applicants each year and roughly the same amount dreaming of a biglaw job?
A lot of people give up on that dream or walk away eventually, but there are thousands of people who stay in the game each year.
How we choose to live our lives is none of your concern. We're all fertilizing in a few years anyways so who gives a crap.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39029215) |
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Date: October 29th, 2019 1:12 AM Author: light massive garrison
I get that you're maybe 50% flaming, but you're missing the picture.
My goal is to be retired at age 50 - young enough to still enjoy travel and my hobbies.
Because I figured out how to stay in Biglaw, I'm saving several hundred $$$ every year now after taxes. I live in a fairly modest house (bought for a bit under $ 1 million, worth a lot more now), have another home of around the same value that I am renting out and no debt. I don't spend $$$ on useless crap or models/bottles and live pretty low-key so I won't have to deal with any abrupt changes in my lifestyle if I leave biglaw.
Maybe I'm a top 10% outcome in biglaw or so, who knows. But yeah, call me whatever you want, I worked really hard and I'm not ashamed of it.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39040559) |
Date: October 25th, 2019 1:25 AM Author: Sinister party of the first part
I've had a few law jobs and biglaw was by far the most stressful. I also did a stint as an accountant at a Big 4 before law school and that was very chill in comparison.
The constant fire drills, quick turn around times, and sheer amount of work made biglaw the hardest job I've ever had....by far.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39024474) |
Date: October 25th, 2019 1:25 AM Author: flirting striped hyena faggot firefighter
the really good associates (i wasn't one of them) get crushed with work from a zillion directions and eventually either go insane and/or becum addicted to the stress
even as a mediocre associate, it's pretty stressful until u gain enough passive income / get an exit op so u can recognize it all for the flame that it is
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39024475) |
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Date: October 25th, 2019 1:41 AM Author: light massive garrison
It's really sad to watch but it happens to at least one guy from every class. Rising star, gets praise from everyone. After a year or two though, he is MIA on a night you need them. Oh well, he probably had something really urgent to do. He's unreachable on Saturday. Oh, he probably had a family tragedy. He does a really bad job on an assignment. Oh, he probably just misunderstood something. He doesn't shave anymore and doesn't smile and just seems low energy. Oh, he's probably just really busy and hasn't gotten much sleep. Next thing you know, this guy is either quitting, or has over the course of 1 year transformed into the most worthless, hated associate in the team. Really sad.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39024514) |
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Date: October 26th, 2019 7:19 AM Author: light massive garrison
Wake up - it's not about faggots like me. It's the way the system is. We all knew about the system starting in law school, and you had every year to back the fuck out. You literally have 5+ recruiter calls every single fucking day starting in year 2 and basically endless inhouse opportunities.
Don't give me this crap about "oh it's assholes like you". It's like NFL players bitching about concussions. Yeah stfu you weren't complaining when you were being paid.
You want to play the game, then fucking play and stop bitching about the rules.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39029208) |
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Date: October 25th, 2019 2:00 AM Author: light massive garrison
Naw.
The traits that made them a "good associate" in the first-place brought them to a very high paying job, which sucked, but at least they had the chance to make some real $$.
-some of them will go to really good in-house jobs
-some of them will make equity partner and make $$$$
-some of them will make partner in midlaw and make $
-some of them will invariable flame out, but hey, they are probably better off in the long-run than if they just got some random dead-end corporate job in Kansas
Let's be real here. We're not talking about some trust-fund babies who passed up some glamorous job elsewhere to do biglaw. It's the best that most of us could get.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39024551) |
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Date: October 26th, 2019 7:21 AM Author: light massive garrison
Lol hi Nutella.
I'm not trying to justify my job. It sucks on many counts. I also make a lot of money and am financially secure. I think I'll take home $700K this year. Not as much as others, perhaps yourself or CSLG, but worth putting up with the BS. Some of my LS friends still in biglaw are now making 7 figures. We bitch about the same stuff we used to bitch about (cancelled plans, business trips to crap locations, etc.) but we all live in really nice homes, have nice cars, families are very well taken care of, etc. None of us are old enough yet where we're dealing with ruined marraiges or estranged kids, so who knows what we'll look like 5-10 years from now, but for now things are good.
But yeah, I'm spending this weekend marking up a prospectus and I'm not even a securities lawyer lol! It sucks and I'd rather be doing something else.
p.s. Let's be honest - you're only enjoying the life you are now BECAUSE of biglaw. Biglaw was a great result for you, and I'm sure you are benefitting daily from what you learned there so I'm not sure why the hate.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39029211) |
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Date: October 30th, 2019 3:03 AM Author: light massive garrison
Plenty of biglaw lawyers have had 2-3 month stretches where they are billing 300 hours a month for each of those months in succession.
Do the math and try to figure out what 300 hours in one month feels like (it's roughly 75 hours billed a week). Now imagine doing that 4 weeks in a row, times 3.
When it's bad, it's really bad. But when it's good, it's really good. See the trend there? Unpredictability, which also really adds to the stress.
(http://www.autoadmit.com/thread.php?thread_id=4369372&forum_id=2#39045864) |
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