Private practice v in house

For many people who pursue a career in law, working for a top law firm is the ultimate goal.  You go to university, then law school, you work hard and get accepted on a training contact, and eventually you have made it. Or rather, you start the long climb up the ladder to partnership. And for a lot of lawyers, reaching the top of that ladder means success. I’m just not one of those lawyers.

Don’t get me wrong. I enjoy being a lawyer and I actually like practicing law. But I never saw private practice as a career for life. My vision was a little different, and starting up my own business was always on the bucket list. I had a few ideas, and I yearned for the independence and reward that would come with working for myself.

As legal and financial director at Seedrs, a leading online equity crowdfunding platform which is still in its start-up growth phase, I have found that independence and reward. Rather than feeling like a small cog in the big machine of a law firm, my work tangibly contributes to the success of the company.

Everyone is different, and it is hard to know without experience which type of legal career is best for you. So, as someone who has experienced working both in private practice and in-house, here are my thoughts on the differences:

Getting tunnel vision

Very early on in private practice you are urged to choose a practice area and, from then on, most lawyers become more and more specialised. This can lead to work becoming monotonous. In house, particularly at a small and growing company, you are faced with new challenges every day.

On the treadmill

As with many large companies, working in a law firm sometimes feels like you are working very hard and achieving very little. With endless client meetings, document revisions and missed deadlines, there can be a lot of wasted (and unappreciated) energy. At Seedrs, every piece of work I do has a direct and immediate impact.

Being a grown-up

Due to the extremely hierarchical nature of law firms, it can be years until you are taken seriously, let alone asked for an opinion. In house you are part of the business. People value your knowledge and skills, and also want to hear your thoughts on things. It’s refreshing.

Leaving home

Going from a large law firm to a lean start-up can feel like leaving home for the first time. Who is going to make you dinner? Or do your laundry? Likewise in house, who is going to fix your computer when it crashes? Or fill out your expenses? It has certainly been a learning curve for me, but it's satisfying when you learn to take care of yourself.

Home time, what home time?

A work-life balance is a given in some jobs, but many private practice lawyers just never leave the office. Finding a company, whether private practice or in house, with a respect for your home life is so important.

Secondment

If you are offered the opportunity to go on secondment while you are working in private practice, take it. Secondments really give you an insight into the way businesses operate and how legal advice is applied in a practical way.

Heart and soul

If you choose to go in house, you need to be passionate about the business because there is no break from it. You can’t switch to working with another client for a while, because there are no other clients.

Fortunately, I do feel passionately about Seedrs - both the business itself and the companies that we help get off the ground. Working in a start-up is a very different experience to being in a large law firm and it's not for everybody, but I couldn’t go back now. I feel that I have learnt more in a year at Seedrs than in the four years at my old firm. To anyone thinking of making the transition in house, why not try the challenge of working for a start-up?

Karen Kerrigan is legal and financial director at Seedrs, a leading online equity crowdfunding platform.