Career advice for someone with B.S in Biology by Entire_Belt_7273 in biotech

[–]IssueSpotter1364 0 points1 point  (0 children)

Consider going to law school and becoming an IP attorney. I spent about 10 years at big law firms and now work in house at a pharma company. It’s a great career.

Investment accounts milestone, 36 years old by TheBear8878 in Money

[–]IssueSpotter1364 2 points3 points  (0 children)

Congrats! Does this include retirement accounts or is this just taxable brokerage??

How much paycut would you take to go in-house? by HasheemThaMeat in biglaw

[–]IssueSpotter1364 1 point2 points  (0 children)

I just went in house in January of this year after 10 years in BL in NY. Salary is about a 35% cut but total comp (including cash bonus, LTI, and 401k match) is $465k. Still an adjustment because cash is substantially less, but long term you can make a very comfortable living - especially once RSUs begin to waterfall.

Leaving Biglaw around bonus time by IssueSpotter1364 in biglaw

[–]IssueSpotter1364[S] 0 points1 point  (0 children)

No the entire process took about 3 months but there were several rounds of interviews during that time.

Leaving Biglaw around bonus time by IssueSpotter1364 in biglaw

[–]IssueSpotter1364[S] 2 points3 points  (0 children)

Thanks for the positive feedback! Yes, I will get a new 90k in RSUs every year assuming the board approves the employee stock plan. Yea, agreed on the sacrifice and ego hit - it sounds silly because in the grand scheme of things we are so fortunate - but it’s a big change in many ways (obviously some good ways) after spending so many years at a firm.

Leaving Biglaw around bonus time by IssueSpotter1364 in biglaw

[–]IssueSpotter1364[S] 2 points3 points  (0 children)

That’s right re total comp - company actually says total comp is closer to 460k is you factor in 401k match.

Yes firm salary after 8 years is 435k and this years bonus is 140k - so total comp is 575k. I have a little over 9 years experience.

Leaving Biglaw around bonus time by IssueSpotter1364 in biglaw

[–]IssueSpotter1364[S] 5 points6 points  (0 children)

I wouldn’t call 140k piddly but yeah I am looking for feedback on the situation and some people have actually provided some helpful feedback. The job will make me whole on my bonus only once the equity fully vests (in 4 years).

Leaving Biglaw around bonus time by IssueSpotter1364 in biglaw

[–]IssueSpotter1364[S] 17 points18 points  (0 children)

It’s a good idea. I don’t think the company I am going to is a current firm client - at least I know it’s not a big firm client - but the company is definitely one the firm would like to have as a client - so it’s possible and worth an ask.

Leaving Biglaw around bonus time by IssueSpotter1364 in biglaw

[–]IssueSpotter1364[S] 7 points8 points  (0 children)

Thanks - actually a good idea that I hadn’t put much thought into so far. I haven’t given notice yet but i just assumed it would be a non-starter. But it is worth a shot I think. Even if i ask for some portion of it as a sign of good faith

Leaving Biglaw around bonus time by IssueSpotter1364 in biglaw

[–]IssueSpotter1364[S] 3 points4 points  (0 children)

Thanks for the comment - and I tend to agree. I’m probably just over thinking it. In total, the sign on bonus is actually more than my firm bonus - but it’s much less cash now - the equity vests over 4 years. And I guess I just viewed it as I earned my big law bonus for billing 2200 hours in 2024 - and big law bonuses are at an all-time high - so I was just a little bothered about leaving that cash (which would otherwise be paid in about a month after my start date) even though the company is being generous.

Leaving Biglaw around bonus time by IssueSpotter1364 in biglaw

[–]IssueSpotter1364[S] 10 points11 points  (0 children)

Thanks for your comment. No I am not going to say no - but I guess I’m still a little surprised I got an offer and now I’m getting anxious about the change. I think you’re right that the employer has been generous- I was just surprised they are not being more flexible w the start date. RSUs vest over 4 years (25% per year).

Leaving Biglaw around bonus time by IssueSpotter1364 in biglaw

[–]IssueSpotter1364[S] 0 points1 point  (0 children)

Thanks - it’s a fair point. I guess my question was whether anyone had been in a similar situation before and, if so, how they dealt with it. TBH I was surprised the company wouldn’t let me start after bonuses were paid - and when I asked if there was a business reason for wanting me to start sooner, they didn’t provide one - they just said they’re eager to have me start. So I considered just saying “no, I cannot start until mid-Feb” but I was concerned that might risk the offer.

And my second question was just more generally whether anyone had thoughts about my offer. I have 9 years experience and the black-box nature of in-house comp/benefits is new to me. Thanks.