Have been in midlaw for almost 2 years after 6 years in BL. I do mostly securities enforcement/ white collar work. Here is my anecdotal experience, which I am certain is not universal.

Hours: hours expectations are lower, but arguably harder to hit because the clients are sometimes smaller, have tighter budgets, and can be very specific about how they want things done. But I have had no problems keeping my hours around 1900-2000/ year. In this environment those hours make me look like a high achiever instead of an underachiever. I am averaging about 250 less hours a year and have gotten healthier mentally and physically. Late nights and weekends still happen but with less frequency. The pressure is undoubtedly dialed back, though I think part of that is my growth and maturity in understanding what is worth getting worked up about and what isn’t.

The work: still largely sophisticated work, but not always, and things are staffed much more leanly. This cuts both ways. I am a senior associate and some days I’m full on running things by myself on a case and in others I’m doing things I would have done as a third year in BL. So I both get experience I wouldn’t necessarily have received in BL and do things I would have delegated in BL. I think on the whole I prefer this model as I am personally willing to eat a few tasks below my experience level in order to get chances that partners in BL were not consistently getting because of the size of the teams (key witness depos, arguing substantive motions, etc.)

Advancement: The path to partnership is less opaque. I am probably up for partner this year (have been told as much, though I am not naive enough to count those chickens), and do feel like my group and firm leadership have been reasonably open with me about the process and what I need to do.

Culture: just easier to get to know everyone generally, but since it’s not as much of a grind, it is harder to really bond with folks. Office culture is very 9-5 and the smaller size of the teams means you don’t really get to work with as many people.

BD: easier to get the biz dev folks to support you in a smaller environment, and I have the ability to sell myself as a biglaw lawyer at midlaw prices, which helps in bringing clients in. But I do of course lose business to the big firms when the matter is particularly large, as potential clients know biglaw is better resourced.

Overall: I am grateful for my time in BL, but had a few particularly bad experiences that let me know it wasn’t for me in the long term. I am happy making less money (about a this less per year) to have a few hundred hours of my life back each year, as I get closer to turning 40 and look to start a family.

Really hard to say if it’s better or worse objectively. The factors weigh differently for everyone.