What I REALLY Think About Corporate Law - My Honest Opinion

Summary

The video script discusses the pros and cons of being a corporate lawyer from the perspective of someone with three years of experience. The speaker rates each point on a scale of 1 to 10 for 'goodness' or 'badness.' Pros include intellectually stimulating work, working with knowledgeable colleagues, good earnings and job stability, respect and self-worth, and project-based work offering variety. Cons highlighted are long working hours, unpredictability in work schedules, increased personal expenses with higher income, a linear and slow career progression, and a sedentary work nature. Despite the challenges, the speaker enjoys their job and finds the positives outweigh the negatives, with no plans to change careers soon.

Takeaways

• 📚 The speaker enjoys the intellectual stimulation of commercial law, particularly in mergers and acquisitions, and gives it a 9 out of 10 for interest.
• 🕒 Despite long working hours, the speaker is comfortable with the work intensity and rates the badness of hours as a 4 out of 10.
• 🤝 Working with knowledgeable and intelligent partners provides a fulfilling environment, earning an 8 out of 10 for good colleagues.
• 🚨 Unpredictability in work scheduling is the speaker's least favorite aspect, scoring a 9 out of 10 on the badness scale.
• 💰 Corporate lawyers are well paid with good long-term earning potential, but the high income comes with increased expenses, resulting in a 9 out of 10 for money and a 2 out of 10 for the associated downside.
• 🔐 Job stability as a lawyer is highly valued, scoring a 7 out of 10, due to the constant need for legal services.
• 🏗 The role of a lawyer is more reactive than proactive, acting as architects rather than originators of ideas, which is given a 6 out of 10 for badness.
• 🏆 The profession commands respect and boosts self-worth, with a goodness rating of 6 out of 10.
• 📈 Career progression in law is linear and slow, which can be frustrating, earning a 6 out of 10 for badness.
• 🎯 The project-based nature of corporate law provides variety and a sense of accomplishment, rated 8 out of 10 for goodness.
• 🖥 The sedentary nature of the job is a significant downside, with the speaker giving it a 9 out of 10 for badness due to health implications.

Q & A

What is the speaker's profession and how long have they been in the field?

The speaker is a corporate lawyer and they have been in the profession for three years.

What is the first pro the speaker discusses about being a corporate lawyer?

The first pro is that the speaker finds their work interesting, dealing with mergers and acquisitions and structuring deals for major companies.

How does the speaker rate the intellectual stimulation in commercial law on a scale of 1 to 10?

The speaker rates the intellectual stimulation in commercial law as a 9 out of 10.

What is the first con mentioned by the speaker, and how do they rate it in terms of badness?

The first con mentioned is the long working hours in corporate law, and the speaker rates it as a 4 out of 10 in terms of badness.

What does the speaker appreciate about working with colleagues in a corporate law setting?

The speaker appreciates the intelligence and knowledge of their colleagues, who are partners with 15 to 30 years of experience in the legal industry.

How does the speaker rate the goodness of working with colleagues in a corporate law firm?

The speaker rates the goodness of working with colleagues as an 8 out of 10.

What is the second con the speaker discusses, and why is it considered a significant drawback?

The second con is the unpredictability of work hours, which can disrupt personal plans and lead to last-minute work demands. It is considered significant because it affects work-life balance.

How does the speaker rate the badness of the unpredictability in work hours for a corporate lawyer?

The speaker rates the badness of the unpredictability in work hours as a 9 out of 10.

What is the third pro mentioned by the speaker, and what is the reason behind its high rating?

The third pro is the high salary and earning potential of a corporate lawyer. It is highly rated because the speaker receives a strong base salary and has the potential to earn significant amounts of money in the long term.

What is the downside to the high salary that the speaker experiences?

The downside is that as the speaker's income increases, so do their expenses, leading to a lifestyle inflation that means savings do not grow as expected.

How does the speaker rate the badness of the increased outgoings due to a high salary?

The speaker rates the badness of increased outgoings as a 2 out of 10, acknowledging that while it's not ideal, the benefits of a high salary outweigh the increased expenses.

What is the fourth pro of being a corporate lawyer as discussed by the speaker?

The fourth pro is job stability. The speaker values the fact that the skills of a lawyer are in high demand, providing a sense of job security.

How does the speaker rate the goodness of job stability for a corporate lawyer?

The speaker rates the goodness of job stability as a 7 out of 10.

What is the third con mentioned by the speaker, and how does it affect their job satisfaction?

The third con is the nature of lawyers being more like architects rather than originators, responding to client demands rather than initiating ideas. The speaker rates it as a 6 out of 10 in terms of badness, acknowledging it as a downside but not a significant issue in day-to-day work.

What does the speaker consider as the penultimate pro of being a corporate lawyer?

The penultimate pro is self-worth. The speaker feels that being a lawyer commands respect and contributes to a sense of self-worth and fulfillment.

How does the speaker rate the goodness of self-worth derived from being a corporate lawyer?

The speaker rates the goodness of self-worth as a 6 out of 10.

What is the fifth con mentioned by the speaker, and why is it considered a drawback?

The fifth con is the linear and slow career progression in corporate law. The speaker finds it limiting because there is a set timeline for promotions regardless of individual performance.

How does the speaker rate the badness of the slow career progression in corporate law?

The speaker rates the badness of slow career progression as a 6 out of 10, recognizing it as a drawback but also understanding the reasons behind it.

What is the final pro of being a corporate lawyer according to the speaker?

The final pro is that the work is project-based, which provides clear goals, a sense of accomplishment upon completion, and variety in work life.

How does the speaker rate the goodness of project-based work in corporate law?

The speaker rates the goodness of project-based work as an 8 out of 10.

What is the final con of being a corporate lawyer that the speaker discusses?

The final con is the sedentary nature of the job, which involves long periods of sitting and staring at screens, leading to potential health issues.

How does the speaker rate the badness of the sedentary nature of corporate law work?

The speaker rates the badness of the sedentary nature of the job as a 9 out of 10, acknowledging it as a significant downside.

What is the speaker's overall view on the pros and cons of being a corporate lawyer?

The speaker believes that the pros outweigh the cons. They enjoy their job, are experiencing good career progression, and find the level of responsibility and knowledge gained to be satisfying. However, they also recognize the need to make sacrifices in terms of personal time.