Career Guidance for a Newly Qualified Lawyer in Europe: M&A vs. Internal Investigations
I recently passed the bar exam in a European country and am contemplating my first move as a newly qualified attorney. Two opportunities have caught my attention, both from prominent firms in my jurisdiction, comparable to the magic circle firms.
Option 1: The M&A/Corporate team at Firm 1. This feels like a secure choice, especially since I’ve interned there, and I’m familiar with the environment and the people. However, a significant downside is the large pool of associates working under just about ten partners, which can make it challenging to build meaningful mentoring relationships.
Option 2: The Internal Investigations team at Firm 2.
- I’ve spoken with team members, and it appears this could be a fantastic fit: a strong sense of camaraderie, a partner who prioritizes career development, a growing practice, exciting international cases, and the opportunity for substantial responsibility early on.
- That said, there are potential drawbacks: I haven’t previously worked there, so I lack insight into its true nature. I’m uncertain if I want to focus solely on Internal Investigations for the foreseeable future, and I have concerns about exit opportunities. Additionally, my experience during the recruitment process suggests that the team may not be very organized, which could lead to a somewhat chaotic work environment.
I would appreciate any advice on the following questions, particularly regarding Option 2 (Internal Investigations):
- If I choose to join the Internal Investigations team and later decide it’s not the right long-term fit after 1-3 years, how challenging would it be to pivot to another area of law, like M&A or corporate law?
- What kind of exit opportunities do each option present approximately five years from now? My goal is to position myself for greater independence or to transition to a smaller firm in that timeframe. I’m particularly uncertain about the prospects stemming from Internal Investigations—beyond compliance roles in larger corporations, what else is available?
- For those who have experience in Internal Investigations: What insights or surprises did you encounter in the field that you wish you had known beforehand? Are there other critical considerations I should take into account?
Thank you for reading my lengthy post! I appreciate any thoughts or advice you might have.
One Response
It’s great to hear that you’ve successfully passed the bar and are considering your first steps in your legal career! Both options you mentioned have their merits, and it’s clear you’ve thought through the implications of each. Here are some thoughts on your questions regarding Option 2 (Internal Investigations):
Switching Fields After 1-3 Years:
Transitioning back to M&A or corporate law after spending time in internal investigations can be done, but it may present some challenges. Many skills like analytical thinking, client management, and experience dealing with complex legal issues are transferable, so those with a background in investigations can often find a way back into corporate law. Networking during your time in internal investigations and maintaining relationships with M&A colleagues can facilitate this transition. However, it’s important to highlight any relevant experience that correlates with M&A in applications—like understanding regulatory frameworks or managing client relationships based on your investigative work.
Exit Opportunities After 5 Years:
Both paths offer diverse exit opportunities, but they are skewed based on your chosen specialization.
M&A/Corporate Law: Typically leads to roles in law firms, in-house counsel positions, or even opportunities in private equity or investment banking. The transferable nature of corporate law skills means you could also explore roles in startups or entrepreneurship.
Internal Investigations: Although often perceived as more niche, this field can lead to compliance officer roles, risk management, or corporate governance positions, especially in multinational companies. There’s also a growing need for professionals in regulatory affairs, fraud prevention, and even consulting roles focused on compliance and risk. If you pivot to a corporate position later, your experience in investigations can set you apart, especially regarding compliance matters.
Insights from Internal Investigations:
Ultimately, it would be beneficial to reflect on what aspects of a legal career motivate you most – is it the fast-paced nature of corporate law or the meticulousness and ethical considerations of investigations? Consider where you see yourself fitting in best, both temperamentally and career-wise. Good luck, and whichever path you choose, make the most of the mentorship and growth opportunities available to you!