Established Firm, Start up or Multinational Firm? Legal Industry

Kidaway on 09/12/2023 - 08:23
Last edited 09/12/2023 - 08:40

Hi guys, I now find myself receiving various offers from 2 boutique law firms and would like to seek your opinion. Both firms pay more or less the same salary.

First: Firm has been operating for 10 years. Partners are business-minded people and have acquired smaller law firms, are expanding and have other non legal businesses too. Had a chat with the team - friendly bunch of people. What attracts me is that we share similar views in terms of having the entrepreneurial spirit (me wanting to start a business too - ie running my own firm in future) and the partners fully supporting it. Shared an example of an employee now setting his own firm and are collaborating together now.

Second: established firm of 40 years (boutique). Has a strong reputation in the industry. Slightly high turnover. Just looking for someone to fill a role - typical career progression of just title/salary. No intention of you being part of the business in the long run (unless make partner which take ages).

Third: wait and apply for a mid/top tier firm and climb up the corporate ladder again. Comfortable salary but hard to make a partner - business is never really yours unless you become equity partner.

Which would you take?

Poll Options

  • 23
    Firm that is expanding and you share a similar view (growing, young and being part of the business)
  • 4
    Established law firm with typical career progression. Hard to get into the biz part.
  • 2
    Wait and apply for mid/top tier firm
Education & Work

Comments

  • dwarves on 09/12/2023 - 08:36
    +2

    Option 1 by a mile. You will be much happier working with people you like, and whose mindset is similar. Source: me, 25yr lawyer.

    • Lunarboogie on 10/12/2023 - 06:38

      Aren't you a little short to be a lawyer?

  • Muzeeb on 09/12/2023 - 08:37

    First law of ozbargain forums with multiple choice answers:

    Add a poll

    Maybe law isn't really your thing.

    • Kidaway on 09/12/2023 - 08:40

      Thanks!! :)

  • SBOB on 09/12/2023 - 09:13
    +1

    Both much better choices that real estate agent….

    • Muzeeb on 09/12/2023 - 09:18
      +1

      Or customer greeting position at CBA.

      • DashCam AKA Rolts on 09/12/2023 - 10:39
        +1

        Graduate program at Westpac to qualify for a staff loan on that high yield investment MB.

  • Dollar General on 09/12/2023 - 10:03

    It's all good, man

  • bobbified on 09/12/2023 - 11:19
    +4

    Just last month, you were:

    "Pretty much sick of have a fixed salary with hardly any motivation to work hard on a matter knowing that whatever you billed wouldn’t go straight to you."

    Have you changed your attitude yet? Because you're not going to get far in whatever the next law firm you go to is with that on your mind.

    • Protractor on 09/12/2023 - 15:52

      Well based on that I'd say a fast food lackey is calling. No work ethic or consistency required.

  • AustriaBargain on 09/12/2023 - 12:02

    Multinational firm would be ideal if you want to help crush the little guy.

  • Almost Banned on 09/12/2023 - 13:58

    Firms hire based on 'fit'.
    You should do the same.

  • Central Intelligence on 15/12/2023 - 09:58
    +1

    Option 4

    If you are as good as I think you might be, you should go the sole practitioner route.

    Create your own boutique, you won't regret it.

    Otherwise you can do I have done which is branch out to other fields if you have a double degree, multiple degrees, self learning in other fields of interest.

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