Current junior in biglaw office. Interested in hearing people's opinions on the of counsel/equivalent route.
From my understanding: biglaw of counsel salary can be 300-400k on higher end, no pressure to bring in business, less job security, still working biglaw hours but not getting partner pay, unlikely to ever get partner after choosing route.
I've been considering trying to go for this as I don't hate the biglaw hours so far, unlikely to make partner anyway, figured supporting a family on that income will be nicer than taking a more significant paycut inhouse, and specialized practice area I'm going into would help with job security a little.
Are there any of counsels on here that can offer their stories, or other people who have more information about this? I would like to hear some more critical feedback of it as I know my understanding is still a little ignorant right now.
Of Counsel - Non Partnership Career Pros/Cons? Forum
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Anonymous User
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RaceJudicata
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Re: Of Counsel - Non Partnership Career Pros/Cons?
Interested in this as well.
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Anonymous User
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Re: Of Counsel - Non Partnership Career Pros/Cons?
I've thought about this too. Partner is not totally unattainable where I am, but I have a timing problem that makes it unlikely, and even if it was on the table... I love the work, but do I really want to give up some of it in return for the never-ending, gnawing anxiety of business generation? (In my field you need to be constantly bringing in new clients, not just nurturing a couple huge ones.)
In my group it seems like there's two types of counsel you can be (and "of counsel" is a different thing at mine and a lot of firms): you can bring in a lot of your own business but still do some work for others and just never get made partner because of bad luck, or you can be a lifelong worker bee, bring in almost no business, and basically function as a super-associate. Obviously I'd be looking at the second route. Job security probably does depend on work flow, but that's the case as an associate too, and if anything you're more valuable the longer you've been there since you have the subject matter knowledge, know how the partners like things done, etc. I dunno, it seems like a good gig to me, if it's a good practice area and you like the work. The biggest downside might be the indignity of it all after similarly situated associates make partner, but that's just a negative part of your brain you have to constantly hush to live a happy life.
In my group it seems like there's two types of counsel you can be (and "of counsel" is a different thing at mine and a lot of firms): you can bring in a lot of your own business but still do some work for others and just never get made partner because of bad luck, or you can be a lifelong worker bee, bring in almost no business, and basically function as a super-associate. Obviously I'd be looking at the second route. Job security probably does depend on work flow, but that's the case as an associate too, and if anything you're more valuable the longer you've been there since you have the subject matter knowledge, know how the partners like things done, etc. I dunno, it seems like a good gig to me, if it's a good practice area and you like the work. The biggest downside might be the indignity of it all after similarly situated associates make partner, but that's just a negative part of your brain you have to constantly hush to live a happy life.
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ruski
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Re: Of Counsel - Non Partnership Career Pros/Cons?
ive considered as well and obv a lot of people go this route. but it doesn't seem to be worth it. by that time you could probably have landed some less-stressful gig making 200k. making 400k would be better no doubt, but is it really worth it. you're basically in the same economic class still. all you get is maybe a slightly bigger house or perhaps flying first class in stead of coach etcAnonymous User wrote:I've thought about this too. Partner is not totally unattainable where I am, but I have a timing problem that makes it unlikely, and even if it was on the table... I love the work, but do I really want to give up some of it in return for the never-ending, gnawing anxiety of business generation? (In my field you need to be constantly bringing in new clients, not just nurturing a couple huge ones.)
In my group it seems like there's two types of counsel you can be (and "of counsel" is a different thing at mine and a lot of firms): you can bring in a lot of your own business but still do some work for others and just never get made partner because of bad luck, or you can be a lifelong worker bee, bring in almost no business, and basically function as a super-associate. Obviously I'd be looking at the second route. Job security probably does depend on work flow, but that's the case as an associate too, and if anything you're more valuable the longer you've been there since you have the subject matter knowledge, know how the partners like things done, etc. I dunno, it seems like a good gig to me, if it's a good practice area and you like the work. The biggest downside might be the indignity of it all after similarly situated associates make partner, but that's just a negative part of your brain you have to constantly hush to live a happy life.
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