Entering The Job Field
Upon completing their studies and passing the bar exam, fresh law school graduates must ponder their future career paths. There is not one route that a law school student must follow upon graduation. The American Bar Association's "Profile of the Legal Profession" report (2021) highlights the different categories in which law school graduates typically embark on their first job, providing a range of opportunities for specialization and making meaningful contributions to various sectors of society. The categories with the associated percentage of graduating attorneys entering the profession are:
Not many follow their originally determined career path. Some became attorneys to work in law firms, while others choose teaching, clerking, or becoming in-house counsel. There's not one right way to build a legal career, and it differs for each person. Interestingly, many attorneys who initially pursued law firms or clerkships find fulfillment in building their careers in corporations.
The In-House Counsel Survey Report by Leopard Solutions gathered insights from 473 in-house counsel attorneys providing invaluable analytics on satisfaction levels and reasons for transitioning from law firm positions. By analyzing these findings, crucial factors for consideration emerged for choosing between a legal career in a law firm or as corporate counsel.
The Competitive Landscape of In-House Counsel Positions- Requirements and Advancement Opportunities
A position as in-house counsel is a very competitive role for new attorneys. According to the Association of Corporate Counsel (ACC) "Becoming In-house Counsel: A Guide for Law Students and Recent Graduates," companies are increasing their requirements for new in-house counsel. Specifically, many companies hiring in-house counsel now require previous experience serving as in-house counsel. However, more lenient companies would hire in-house counsel with at least four to nine years of law firm experience. New attorneys would not have this prior experience, so the ACC encourages those in an in-house position to intern with corporate legal departments. The ACC believes this would increase your qualifications, but this would not guarantee a role as in-house counsel.
Advantages of In-House Counsel Positions - Work-Life Balance and Freedom from Billable Hours
If you can manage to enter an in-house position, it does have its benefits, such as improved work-life balance. 76% of the respondents to Leopard Solutions’ In-House Counsel Survey stated that they were either satisfied or very satisfied with their work-life balance in their role. 80% of the total respondents worked in a law firm before taking the position as in-house counsel, so it is evident that they know the difference.
Another benefit of in-house counsel life would be escaping the billable hour. Many would consider the consistently high requirement for billable hours "unsustainable" and the cause of burnout. It is consequential to state that the existence of billable hour requirements promotes negative behaviors that hurt the client and the firm.
"I never want to have to bill in 6-minute increments again."
-anonoymous survey repondent
According to the In-House Counsel Survey, only 11.1% of attorneys who hold in-house counsel positions would consider returning to a law firm, and 78% of people who leave a corporate position go to another corporate position. From this information, we can conclude for most in-house counsel attorneys decided that it was a superior course of action to stay within a corporation.
Addressing Challenges in In-House Counsel Roles - Stress, Burnout, and Limited Advancement Opportunities
While in-house positions may have lower reported burnout rates compared to law firm positions, it doesn't guarantee complete immunity from the experience. A survey conducted by Axiom found that 42% of in-house counsel respondents expressed dissatisfaction with their position due to stress and burnout. Therefore, attorneys experiencing burnout in intense roles should not consider becoming in-house counsel as a means of escaping it.
Highlighting the Advantages of Law Firm Careers - Building Technical Skills and Networking Opportunities
The argument of the 11.1% does have merit, as every profession has its downsides. Regarding in-house counsel, one of the primary sources of contention would be the lack of advancement opportunities. The In-House Counsel Survey further found that only 52% of these attorneys are satisfied with the advancement opportunities in their position. Due to this fact, new attorneys with a goal of "moving up the ranks" should not consider an in-house counsel position. Although this is not the case for many attorneys. 43% of in-house attorneys who cited dissatisfaction with advancement opportunities would still not return to a law firm.
Examining the Drawbacks of Law Firm Positions - Client Demands, Results-Driven Environment, and Burnout Risks
Attorneys in a law firm are usually required to "build their book of business." Some attorneys find that their work passion arises from the technical skills of law rather than the networking needed to work at a firm. A disadvantage of a law firm would be the focus of the requirements on results and not networking connections. Keeping clients can be a contributing factor to burnout among firm attorneys.
Understanding Corporate Attorneys' Experiences and Market Trends
The decision between pursuing a career in a law firm or joining a corporate company as in-house counsel should be based on individual preferences, career objectives, and personal circumstances. By carefully considering the benefits and disadvantages, law school graduates can navigate the legal career maze with greater clarity and make choices that lead to fulfilling and successful professional journeys. The In-House Counsel Survey Report offers invaluable insights for anyone interested in understanding the legal landscape and the associated market trends. To access the full report, go here.
