TIP/TARE 2019 Forum

[Anonymous User]

Out of curiosity did anyone receive a biglaw offer from a firm they externed with? Either before TIP or during TIP?

[Anonymous User]

Out of curiosity did anyone receive a biglaw offer from a firm they externed with? Either before TIP or during TIP?

Yes, I externed in the fall and received an offer in the spring.

[Anonymous User]

Out of curiosity did anyone receive a biglaw offer from a firm they externed with? Either before TIP or during TIP?

Yes, at the end of my fall externship.

[Anonymous User]

Seems like majority of people from TIP going to law firms are going to be practicing compensation and employee benefits. Either that or they are heading to JD advantage positions where they don't practice law but give tax advice to clients or create tax models in Excel.

End of the day, I would rather have received my JD from a t14 so I could have easily secured a job at a law firm practicing tax law and drafting legal documents. Seems way easier than going through the LLM route where you have employers recruiting LLMs to their investment management group, employee benefit group, or non legal employers hiring LLMs. Especially with the comp and benefit group, I felt that law firms were hiring from the LLM programs because none of the summer associates wanted to do that work. Not even that much tax law in that area compared to International Tax or M&A, you can easily just learn on the job.

Surprised to see so many people enter the program wanting to do one thing (M&A or something else) and then do something completely different because they received an offer that they would have never received from the tier 2 or tier 3 school that they graduated from. Can't complain about the salary though.

[2013]

Seems like majority of people from TIP going to law firms are going to be practicing compensation and employee benefits. Either that or they are heading to JD advantage positions where they don't practice law but give tax advice to clients or create tax models in Excel.

End of the day, I would rather have received my JD from a t14 so I could have easily secured a job at a law firm practicing tax law and drafting legal documents. Seems way easier than going through the LLM route where you have employers recruiting LLMs to their investment management group, employee benefit group, or non legal employers hiring LLMs. Especially with the comp and benefit group, I felt that law firms were hiring from the LLM programs because none of the summer associates wanted to do that work. Not even that much tax law in that area compared to International Tax or M&A, you can easily just learn on the job.

Surprised to see so many people enter the program wanting to do one thing (M&A or something else) and then do something completely different because they received an offer that they would have never received from the tier 2 or tier 3 school that they graduated from. Can't complain about the salary though.

Nice use of anon.

[Anonymous User]

well I mean afterall 80% of the law firm job posting were for exec comp. The other postings were primarily all for accounting firms. I don't think I'm the only one that has these thoughts. It comes down to the decision whether to practice law or be in a jd advantage job at a non legal employer. If I'm in the latter I want to lateral out as soon as possible to a law firm so I can practice law and not do excel modeling.

[2013]

well I mean afterall 80% of the law firm job posting were for exec comp. The other postings were primarily all for accounting firms. I don't think I'm the only one that has these thoughts. It comes down to the decision whether to practice law or be in a jd advantage job at a non legal employer. If I'm in the latter I want to lateral out as soon as possible to a law firm so I can practice law and not do excel modeling.

You just sound like a salty LLM student that clearly didn’t do any due diligence before shelling out money to go to an LLM program. There are hundreds of threads on here discussing the LLM programs and the job prospects.

It’s not news that only a handful of tax LLM grads get biglaw general tax.

[icansortofmath]

There were kids at the program who did fine at T14 programs, had biglaw summers, and chose tax LLM to practice tax (including some who viewed big 4 as preferred outcomes.)

[Anonymous User]

I'm a current LLM student, and I had multiple offers in both general tax and exec comp. If you do well in the program you will have plenty of opportunities. Even if you don't do well, you will likely still get a job that makes use of your skills (though it's true that the position may be a JD advantage job). A lot of people, including those at the top of the class, chose to go to accounting firms. Some will lateral to big law later, but many will be perfectly happy having a career there.

If you come to the program certain that you do not want to be at the Big 4, you might regret your decision to attend. Most of the people that I know, however, have landed positions at market or near market paying law firms (and this includes people at or below the median). If you are NYC or bust and will not consider exec comp, you need to be near the top of the class (think 3.7+) to get what you want.

A lot of people seem to think exec comp is a second-rate practice group. My understanding is that it is just different than tax. It touches on tax, corporate, securities, employment law, etc.

[icansortofmath]

I got quite a few NYC tax offers with 3.5x so I don't think 3.7 is necessary. I do think you need to be above median for a real shot at some firms, especially in NYC.

Still, I know people well below median both in JD and LLM getting exec comp positions and at least one person with below 3.3 at LLM getting NYC tax. How you interview and how you did in JD definitely matter. If you're geographically flexible, you have even better chances at getting market near market.

[Anon2468]

well I mean afterall 80% of the law firm job posting were for exec comp. The other postings were primarily all for accounting firms. I don't think I'm the only one that has these thoughts. It comes down to the decision whether to practice law or be in a jd advantage job at a non legal employer. If I'm in the latter I want to lateral out as soon as possible to a law firm so I can practice law and not do excel modeling.

So Salty. I bet you're that kid that has the vault rankings memorized.

[2013]

well I mean afterall 80% of the law firm job posting were for exec comp. The other postings were primarily all for accounting firms. I don't think I'm the only one that has these thoughts. It comes down to the decision whether to practice law or be in a jd advantage job at a non legal employer. If I'm in the latter I want to lateral out as soon as possible to a law firm so I can practice law and not do excel modeling.

So Salty. I bet you're that kid that has the vault rankings memorized.

You’re giving him/her too much credit. He/she doesn’t care about anything outside of the V10

[Anonymous User]

Does anyone know what the associate comp is for PwC's ITS group?

[Anonymous User]

In NYC I would expect:

JD
$100,000 base
year end performance bonus (I believe ranges between 1% and 10% of base salary depending on various factors).

LLM
$125,000 base
$10,000 LLM bonus
year end performance bonus (I believe ranges between 1% and 10% of base salary depending on various factors).