Reply to 450k HHI- lifestyle questions

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We're making $750K this year -- I'm 35, she's 29.  I'm in Biglaw.  But can't take it anymore.  Planning on quitting at the end of the year with about $2M.  We only spend $50K a year so should be no big problem.  Will plan on relocating to cheaper part of country.[/quote]

Good for you. It's important to realize what's at risk - your sanity, marriage, kids, etc - before you've lost it. Too many associates and junior partners get caught up in the race. We lawyers are hyper-competitive after all. I spent many years in BIGLAW, sacrificing a great deal in the process. Fortunately, I learned that the grass was greener in house. That said, even BIGLAW pales in comparison to sales guys that I advise. Many make 1-2 million on software and maintenance sales  a few are in their late 20s and cleaning up. Yes, that's a hard life too, but the odds of making great money are better in sales than BIGLAW. Needless to say, I'm still not tempted. When you're in house though,  BIGLAW partners are still your bitch. [/quote]

+1 this is our strategy too.  Currently planning lawexit in the next few years and DH is about to transition into the government.  I think we banked enough that we should be good to go with the lower HHI and will certainly have a more relaxed work life.  If DH stays in government long enough we'll have that pension too so I think it's a good move for us.[/quote]

Advice to all lawyers who want to go in house - don't wait until you're ready to go in house to start networking.  Start networking with in-house lawyers NOW.  Go to local in-house bar events as one of your firm's representatives.  Yes, you'll take a few hours hit on your billables.  So what?  You're only making money for the firm (remember, you're on salary).  Work the room, but make it clear you're not doing so to get clients - but rather to learn about what the in-house lawyer your speaking with does on a daily basis.  Couch your conversation in terms of wanting to tailor your practice - and ultimately your career - towards giving practical legal advice, rather than advising on esoteric points of law.  When you're ready to move, you'll have a network of in-house counsels to contact for possible openings.  Take it from an in-house counsel, we hear about jobs all the time, but often don't have anyone to recommend to a recruiter or colleague looking to fill a job.  Most BIGLAW associates I know are too arrogant (i.e., they think they'll make partner) or married to BIGLAW money to ever consider expressing a desire to move in-house.  The funny thing is, some of them have come crawling back a few years later when they have no shot at making partner.  Likewise, most BIGLAW partners I know are too guarded with their associates (afraid of poaching) to suggest that I interview them for an in-house position - not realizing that having one of their own working for me virtually guarantees that I'll continue using their BIGLAW firm.[/quote]

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