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Pros:
Cons:
It may depend on the practice area, but sometimes these three things combine to form a
perfect storm. For example, let's say you have to bill 2000 hours to remain in good
standing at the firm. One day you get an assignment for a good client, and you should
spend, say, 5 hours turning it around. But you spend 6 hours. (Why? Maybe you're
slow. Maybe you got side-tracked on Quora. Maybe... and here's the fun one... 5 hours
isn't a reasonable budget to begin with, but it's what the partner promised the client.)
You do the assignment, and now you have to enter your time. What do you do? If you
enter 6 hours, then you have a client and/or partner who thinks you're inefficient. If you
enter 5 hours, then the partners and clients are happy, but you're one more hour away
from meeting your annual billing goal. You just gave up one of the precious free hours
that you could have spent with your family (or at least spent on sleep).
Other cons:
The potential for institutional dissonance. Big law firms aren't as coherent
as one might expect. It's not like a company, with a CEO, a coherent group
of vice presidents, etc. Instead, the "real" leadership structure of a firm can
be obscure from the perspective of a junior attorney, or even non-existent.
Moreover, you very likely don't have a single boss, but rather several bosses.
When those bosses give you inconsistent instructions, it can get very
stressful.
Billing psychosis. At big law, you measure your professional life in six
minute increments. There is a tendency for this to bleed into your personal
life as well. (In fairness, this isn't limited to biglaw. But due to biglaw's high
billing requirements and long hours, it seems to happen more often.) At the
office, you get fidgety if you aren't being productive for more than 10
minutes. It's hard to go home and not try to blaze through things with that
intensity. (For me, the thing that bothered my wife was transitions,
especially after meals. As soon as the last bite of food or the last sip of a
drink was consumed, I'd move immediately to the next phase, whether that
was doing the dishes or getting the check. There was no sitting around and
finishing the conversation.)
Your mind is never really off work. First, most big firms have very high
expectations for responsiveness. If you don't reply to an email within an
hour or two (even if just to acknowledge receipt and that you're working on
it), then you can land in hot water. So you're constantly glancing at your
phone. Second, even if you're not glancing at your phone, when you have
been doing something all day, it's hard to just turn it off. Biglaw tasks can be
repetitive, so you can find yourself in that rut. Just by way of example, when
I worked in biglaw, it would often take a couple days into a vacation before I
was really on vacation.
Loss of perspective. This can happen in several ways, but it's all due to the
same root cause: you have a tendency hang out with the same people (or
types of people) day in and day out. On those occasions you do try to talk to
a non-biglaw-lawyer, you may find yourself with nothing good to say. Or
worse, they may find you with nothing good to say.
Relatedly, you kind of hang around with rich people all day. I know I know,
it seems like more money than it is. Student loans. Etc. But you do start to
head in a direction where it suddenly doesn't seem ridiculous to spend
several thousand (or tens of thousands) dollars on a watch. My point isn't
that you feel like you have a lot of money. My point is that, while making
$200K, you don't feel like you have a lot of money because you measure
yourself against the partners and the folks more senior to you.
High stress makes you do weird things. To be sure, I'm not suggesting that
all biglaw lawyers routinely experience this kind of stress. But you're
definitely at an elevated risk. What kind of weird things? Who knows.
Conspicuous consumption, drug use, infidelity, etc. At one point while still
at biglaw, I went to a late dinner with two colleagues (before going back to
the office, of course). One guy was unusually silent, but eventually broke his
silence by asking, as a total non-sequitur, "Have any of you guys ever wanted
to get in your car and just... drive? I mean, not tell anybody. Just... never
come back...."
Stockholm syndrome. Although you may grow to hate biglaw, you can
simultaneously grow to accept it. At any biglaw firm, there's this constant
background hum proclaiming "we're the best!" The more you drink that
koolaid, the more you see any other career option as inherently inferior.
When you evaluate a biglaw career on paper, you can make it work. "2000 hours a
year? Okay, let's say you take two weeks off, then it's just 40 hours a week for 50 weeks.
Maybe kick in an extra hour a day, and now you can take sensible vacations and
incidental days off! I don't see what the problem is..."
Prestige and recognition can't be gained from the small firm either, most of the time.
Lateral moves may be more difficult. And, of course, your salary may be lower. On the
other hand, that may not matter as much, as the only way you can practice in the
country or a rural setting is via a small firm.