Life after Big Law...Need Ideas for my next move

[Anonymous]

I'm in my 40s, partner at a law firm, and about to be pushed out (long story short: my book of business has taken a beating, and unable to find new clients fast enough). Never thought I'd be in this position, and struggling to figure out what to do...Ideally, would like to find something meaningful and enjoyable, since I've got maybe 20 years left before retirement. Not sure about going back to school (unless it was fairly short, or part time). Mainly hoping to transition with my JD, somehow, into another role. I've been looking at government jobs, going in house, etc., but nothing has caught my eye so far. It would need to be in the DC area, because of my spouse.

Anyone out there make a similar transition? Any career advice for someone like me?

[Anonymous]

I am sort of in the same situation, though I am probably 5-10 years younger than you... Non-equity, and seeing the writing on the wall. My practice area is in decline too. All of my biz. development efforts have gone nowhere, and even if they did, I have a mine field of conflicts and other partners to deal with on credit issues. Then, when I do bring something in, have to find reliable people to work on it...it just never ends.

In my case, I am working with a recruiter now, and should have started last year to be honest. Family friend. I am targeting in-house, which is more likely in my field. We are not tied to the area though, so my situation is different.

I think finding a government or in-house job in DC is going to be very hard given the competition. But, you can at least try. I would suggest trying NOW.

In any event good luck!

[Anonymous]

I am in a similar position. This thread has lit a fire under me to talk to recruiters.

[Anonymous]

Anonymous wrote:I'm in my 40s, partner at a law firm, and about to be pushed out (long story short: my book of business has taken a beating, and unable to find new clients fast enough). Never thought I'd be in this position, and struggling to figure out what to do...Ideally, would like to find something meaningful and enjoyable, since I've got maybe 20 years left before retirement. Not sure about going back to school (unless it was fairly short, or part time). Mainly hoping to transition with my JD, somehow, into another role. I've been looking at government jobs, going in house, etc., but nothing has caught my eye so far. It would need to be in the DC area, because of my spouse.

Anyone out there make a similar transition? Any career advice for someone like me?

Do you happen to be in a regulatory practice? Though nothing has caught your eye, but have you been trying to catch their eyes by actively reaching out to your public sector counterparts? Lawyers are typically excepted positions so many jobs need not be posted on usajobs.

[Anonymous]

Small firm? Work less hours. Keep a large percentage of what you bill.

[Anonymous]

OP, what type of law do you do? That makes a big difference in whether a small firm would be a good fit. It's a good idea though, as a real problem for young partners in big DC firms is the astronomical billing rates. If you can cut your rate in half or more by going to a small shop, then you can build a practice through referrals---clients like getting big firm training, thoroughness, creativity and expertise at lower rates.

[Anonymous]

Several big law partners I know went on to the next career teaching history or such at local private schools and loved it.

[Anonymous]

Can't tell what practice area you're in but government or in house in DC is going to be really really hard. Gov't is essentially frozen -- esp the agencies where biglaw skillsets tend to be useful. Sure lawyers are excepted positions, but that doesn't mean that there's hiring (at least not at my financial agency -- we've been told no hiring at all thru 2018). As for in house -- sorry but given that you don't have a solid book, chances are you also don't have the hugely solid contacts to where you call up 3 GCs you know really well and one can create a job for you. If you are basically just applying to the big companies in the area, you are competing with every senior associate being pushed out of biglaw (which is a LOT yearly since many of the DC firms are having business issues and can't even hold onto existing partners, let alone make new ones). Even though you're in your 40s and a partner, your experience likely isn't THAT different than what a senior associate could offer them -- and if I'm wrong and it is, by all means grab a bull horn and start telling every local GC and get yourself hired.

Why not consider another firm? If you could get into a firm that's one step below where you are (thus lower comp but also lower rates), you may be able to develop a book. Or would you consider going counsel/non equity partner to a firm similar to yours or would that be too embarrassing? It could buy you a few years to keep looking for the gov't/in house gig?

How are you in terms of income? Is there a base amount that you MUST make to support your lifestyle? Or are you someone who has made your money and has a few million in net worth already so you just need some income and something to do? I know partners in both boats and the latter is obviously way way easier and some of those people end up becoming passive investors, buy a franchise etc. instead of looking for a 40 hr/wk job.

[Anonymous]

Were you involved in pushing out good senior associates because you and your firm didn't want to make them partner, so it was easier to find some reason after 10 yrs of their toiling that they didn't stack up and tell them to pack it up in a year? If not, I am sorry for how you're being treated. If so, karma is a bitch isn't it?