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LegalGround >> from legal field to finance


11/24/09 8:03 PM
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salyer36
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Does anyone know some one who made the transition from the legal world to finance/investment banking?

I have been working at law firms since college (first as a paralegal, now as a law clerk), and am already sick of it unfortunately.

Is this step possible with only a law degree? My undergrad was not business related.


It is my understanding that this used to be much easier to do, but even without the recession it was much less common.
11/24/09 9:54 PM
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salyer36
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I have a really big interest in finance/investing. Maybe it will just have to be a personal hobby.

I have been working at law firms for the past 6 years, and have been working during the day and going to law school at night for the past 4. The combination of full-time work at a law firm and law school part time at night has me completely burnt out on law at this point.
11/30/09 1:31 AM
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goku
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 i know a bunch of people who have done this

ibanking is the same hours or more, but pe is not
11/30/09 10:04 AM
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salyer36
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Goku-


Did they have a finance/accounting background? Or just their law degree allowed them to do it?
11/30/09 1:18 PM
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goku
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salyer36 - Goku-


Did they have a finance/accounting background? Or just their law degree allowed them to do it?

 just law degree...some get mbas later but its not required since you really dont learn anything when you get an mba
1/5/10 9:48 PM
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halcyonday
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There is a good amount of lateral movement from corporate law to investment banking. The late Bruce Wasserstein was a Cravath associate before he went to work for First Boston. The head of Chase's investment banking unit is a former Cravath partner. That being said, you better have worked at a prestigious firm and worked on WSJ headline deals.

The hours and stress in investment banking is MUCH more than working at a law firm. There is constant pressure to bring in business in order to keep up with the Joneses. Also, if a deal does not close, you will be shortly out of work.

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