I Quit My Job as a Corporate M&A Lawyer
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- čas přidán 2. 06. 2024
- I quit my six-figure job as a corporate M&A lawyer.
During my 3.5+ years in the industry, I learned a lot of things about the legal profession (particularly in private practice), as well as about myself. I also watched the industry change over time, moving towards a direction which fundamentally changed the nature of the job. In this video, I talk about all of these things, and the reasons why they led me to eventually decide to quit my job.
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Timestamps:
0:00 Introduction
1:21 Disclaimers
3:04 Reason #1
6:45 Reason #2
9:15 Reason #3
10:45 Wrap Up
Absolutely fascinating - I am a Chartered Accountant in the U.K. working for 46 years full time in the Financial Services industry - what you have clearly articulated even I can relate to at my age now of 62! I am now following your CZcams videos - thank you! Peter
Peter, I used to be an ACCA accountant (now resigned). It wasn't so much the job nor the hours expected (9am to whenever, especially around year end and month end) in actual fact I found that the quality of people and professionalism had deteriorated. I was dealing with CIMA/ACCA accountants who couldn't balance a TB nor did they know their basic DR or CR, they were just passing the exams to get the credibility which in turn come with misplaced arrogance/confidence. I also found that people who were 'unqualified' yet far more experienced and capable were being passed over for promotions and project work in favour of 'qualified' employees. I sometimes miss the job, however, I am more at peace with myself.
I am also FCCA accountant in the financial services industry and now I have resigned. The work does not scare me. Even though I was underpaid, The work I was delivering was of quality and also bringing good revenue to the company, even working during weekends to meet deadlines. However, I wasn't being valued, my ideas not taken into account. One thing I want to point is that when going to the job market again, the interviewers find it odd for a person who has taken a career break as if its an offence and u are not selected. I quit my job for health, my own peace and focusing on my personal matters rather than doing my best for someone else to earn money...
GOD BLESS YOU PETER!!!!!🙏🏽🤲🏽❤️❤️❤️
@@DIMMU_BORGIR I RESPECT THAT 🙏
Honestly of course you quit, I watched your week in the life of video. It's actually NOT OK to work that hard and be wired in 7 days a week. Any person will get burned out and when you take a step back to reflect, you realise the input and effort doesnt always translate to meaningful outcomes. Happy for you that you quit, hope you find something that isn't so taxing in the future.
I have been viewing all the comments for an hour and a half and this is the best I have ever read! Thanks so much! I would bear that suggestion in mind when I go on my career as a lawyer.
Yea em also worked on Sunday… horrifying
After 20 years in the legal industry, I left and went back to school. I had two burnt-out and diabetes with the stressful lifestyle and crazy work schedule. The legal environment is toxic and demanding, no matter what type of law you do. I did immigration law and that was very emotionally satisfying. But it got too much after I hit 40 and my body and mind didn't like it anymore. I walked away from $350K a year. Whatever time I have left in life was more important, I decided to learn what I like and do what I like, and be more in control of my life.
Corporate environment toxic af
So what are you learning?
Could I ask what it is that you did to figure out what you like?
And here I´m sitting at my desk on a sunday, having to draft some legal paper that´ll take me all day but somehow CZcams is much more interesting...
@@lloydmo9409 I took a year off travelling and trying out everything.
Congrats to you for quitting and finding fulfilment now! It is still one of my biggest regrets that I let my youtube channel basically die when I landed my magic circle training contract. But 8 years ago it seemed like madness to choose being a creator over the legal career I'd worked so hard to build! So glad there are people like you showing people that it is possible to choose yourself and follow your heart. Wish you and Em the best! P.S. I refused to go on secondment in Hong Kong because everyone at my firm knew that was an intense seat especially for banking and corporate :-D
As an aspiring solicitor, hearing your story is like gold, thank you Lloyd!
Congratulations. Identifying what one truly values is a priceless realization, and often, it comes too late. I look forward to seeing what's next for the two of you.
great to hear this news!! you have all our support along the journey of doing YT. i hope everything goes well with you!
Hi Lloyd & Em. Hope that you can soak up the sun and the palm trees as much as you can.
Thank you for sharing your reasons. Thank you for putting a lot of efforts in editing, filming, adding B-rolls, replying to comments.
It's absolutely useful for younger folks who want to work in the legal industry.
Those reasons are also not inherently just for the legal profession.
I'm sure many people can benefit from watching this video and think about if they run into similar things in their jobs.
Mental health is important. Please take good care of yourself. Until next time
Good for you! Hope this new chapter brings you well.
Hey Lloyd, I'm glad to see you have chosen the path you feel is best for yourself, and thank you for being honest with the decision process. Best luck with your future endeavors!
Thanks for your insightful and honest sharing, as usual! All the best to you and Em!
Congrats! I used to work in the legal industry as well (also in corporate but mostly IPO), so I can totally relate to your video. I am honestly so much happier and healthier now, and I hope you will be too!
Your videos have been very relatable to me. Thank you for sharing your journey with us and best of luck with your upcoming adventures!
It’s appreciated your genuine sharing and prudent insights. I’m also supporting your vision to uncover more and more transparency for those who considers to enter a career, industry, and life. Even for those who lacks of resources to get the working situation earlier. So, I create my channel by voice!
Congrats Lloyd and thank you and Em for sharing your genuine thoughts and experience with us! I’m going through similar struggles with my work and I admire your conviction to do your own thing
So happy for you and Em! Congratulations on all your achievements to date and all that’s to come! :)
Your unflinching honesty and ability to see life for what it is are a credit to you. All the best and enjoy your newfound freedom.
I don't ever had interest about law stuff before, but watching your review videos is something so cool. Keep up with the content!
You got to follow your heart and gut. Good on you for putting yourself first! 🙌🏽
Thanks for showing the reality of the business. Not all bad, not all good, just real. Best of luck with whatever is next.
Congratulations Lloyd (and Em too). I can understand how difficult it is to leave your comfort zone after spending years building a solid career in law. I think many of us would be interested to know - what are your plans for the next step? Are you two just taking a break or are you guys becoming full time CZcamsrs?
This is the kind of honest content aspiring private practice lawyers need before deciding to jump into massive firms. Great video!
Congratulations on this decision - It's definitely not easy but I'm so incredibly excited for you both to see where life takes you. Love from Australia!
Lloyd! Thank you for this video! Your specific examples really resonated with me. Always love you and Em’s transparency and complete honesty. Wishing you guys luck on your journey. I know you guys will do great on your next journey. Keep in touch!
Thanks for sharing and glad to hear you both have made the decision without having a job to take a break, same here, hv just quit to take a break too, it's time to take care of mental and physical health. All the best to all of us.
Good luck 👍 it's nothing wrong to change, you can find your own way/journey...all the best !
wow wow wow this channel is amazing thank you so much for sharing your insights. I'm a final year law student in AUS with a commercial law graduate program starting from next year and had so many concerns swirling through my mind. your videos have definitely helped quell some of my concerns. can't wait for your future content and sending you all my support from down under!!!
Hi L & E, I have been in legal practice for the last 10 years, feeling exhausted and motivated to take a break too after watching your video. I think this is important before moving to the next journey. Tks
Good luck! I quit practice about 13 years ago and went to a know-how company you'll have heard of. Best decision ever, been here 13 years. Hope the new ventures go well for you both.
Great video. I used to be a banking lawyer and can relate to everything you said. I moved into teaching and haven’t looked back since.
Hey Lloyd, Hingson here. I have been binge watching your CZcams content as a corporate lawyer for the past week (I quit the industry 5 years ago for similar reasons you pointed out)! Looking forward to the more of your content of your next passion!
Have a good rest and good luck on your next journey!
Really appreciate this content. Thank you!
Thank you for your honest perspective.
Congrats on quitting. Exciting times and so brave of both you to take this step
When they say the job is 9-5, it's never really 9-5. The job will consume you 24/7. Even if you're not physically doing the work, you'll be thinking about it and stressing over it, even in your sleep. At some point you'll have to be very honest to yourself, if your career consuming your life in all aspects 24/7 is what you wanted in life.
I agree, so true.
looking forward to more videos! really like all your tips and your insights
Hi Lloyd. Thank you very much for once again sharing your personal experience. I work as a junior associate in Italy for an international law firm, and even though you are in a different continent, your experience resembles mine a lot. It is “great” to hear that some of my perplexities on the job and especially on how things are dealt with (e.g. when in comes to rates and budgets) are not just my own problem. This makes me more determined to switch to in-house. I know some might see it as a downgrade or even a waste of potential but I feel like I’ve been robbed of a lot of my personal space and time which no one and no pay check will ever give me back. Thank you again because your story strengthens my idea that the productive myth is toxic, or at least not fit for everyone.
Last but not least, best of luck with your future! 🍀
It is certainly not a waste - I'm happy I entered the profession and gained the knowledge/experience that I did, which will be with me for the rest of my life. I am sure the same will be true for you no matter what career path you decide to go down. All the best and thanks for the support!
Glad to hear you got the courage to jump out and have your work/life balance back. I've been following you because I work on the other side of the deal (M&A advisory) and it's been interesting to see how corporate finance lawyers work. I can also reflect my own work/life balance and I'm glad my working hours are more manageable (approx. 35h/week in Finland).
How much you earn?
Wow! Best of luck, Lloyd. Really looking forward to the Q&A.
MAY GOD BLESS YOU AND GUIDE YOU IN THIS NEW JOURNEY!!!!!🙏🏽🤲🏽❤️❤️❤️
There is no greater feeling to be able to recognize what gives you joy and actually be able to attain it day in and day out. Fully respect your decision and am happy that you decided to quit. I hope you’ll be able to take this time to recharge, to enjoy some time with Em and I am sure there are plenty of opportunities ahead once you feel ready. I am not in the legal profession but have always been fascinated about yours and Em’s experiences. Perhaps consider writing a book, my humble opinion is that you’ll be very good at it and I’ll be the first one to get a few copies 😃.
thanks so much for being so honest about your experience, im starting law school and it's nice to hear multiple perspectives on the industry
same here😅
As a law school graduate all I'm saying is good luck :')
@@maramshihab6152how hard has it been trying to get your foot in the door and get a job in the field after graduating?
Thank you so much for keeping it real with us.
Are you a daydreamer ?
Funny how a lot of the things you mentioned reminded me of my (short) time in advertising, and the reasons why I eventually left as well. The worst part was definitely slaving away under high pressure just for the client's deadlines & projects that I didn't even create or own so it felt especially pointless to me.
Great video as always! Love that you guys always keep it real ❤️
Having spoken to many friends in other professional services industries like advertising, I definitely realized that a lot of what I was feeling was actually relatable across many different industries under the wider "services" umbrella. Really happy to hear that the video resonated with you, and thank you for the support!
Thanks for sharing and congratulations on the next chapter or at least a break from all the madness! As a corporate law associate myself, I have to say that all the reasons you mentioned are very genuine and candid. We’ve spent years of education and trainings to adapt to the on-the-clock type of client service, and honestly what scares us or at least me is not really the hard work or the all nighters, and we get compensated for that quite generously, cravath rate, cola and all that. However the idea of not being able to make any schedule or commitment or just exploring new interests outside work in a meaning way is what bugs me everyday. The notion of staying on the job for a few years and exiting thereafter while golden handcuffed is ironically pragmatic (which I am struggling with everyday as well). Congratulations again on moving onward and forward!!
Thank you - it definitely helped me when I spoke to friends in the industry about their experience and realized that I wasn’t alone in feeling this way. I hoped that by speaking candidly about these issues in the industry, others could relate and possibly reflect on their own situation as well. Really happy to hear that the video resonated with you! 🤝
Thank you so much for the video- it is inspiring and i look forward to your upoming journey!
Your videos are awesome btw! As someone who was living NYC law firm life for 7 years, I can say that they're accurate and faithful to what it's like to practice as a transactional attorney. Best of luck on your new ventures!
great video! wishing you guys the best !
This resembles my story so much, Im an accountant and quit 6 months back (without a job lined up) because of the reasons that were mentioned in this video. Now I'm trying to figure what I want to do next in my life.
Great work man, really proud of you!
I’m looking to becoming a lawyer and your content is incredibly helpful in helping me understand the industry. Thank you, Lloyd!!
You’re very welcome! Best of luck :)
Thanks for sharing your honest thoughts. I can totally relate to that as I have been there before and decided to quit after 5 years as a corporate finance lawyer. Now I am in a happier place with better work life balance. I wish you and Em well and totally support you two’s decisions!
Just curious, what do you do now? And how did you decide what to transition to? Feeling lost :/
@@mihotsubaki8892 I am still in the legal profession but I went inhouse and I am doing general corporate work which has much less workload and my company values work life balance. I decided to leave law firm because the hours were too long and there was too much workload as I was in corporate finance. often I worked after midnight, on weekends and public holidays. I noticed that its too stressful and it’s affecting my health so I decided to quit. Health is upmost important. Hope my advice helps!
Exactly the reasons why I'm seriously planning to leave the law firm industry. I wish someone had told me these aspects of the law firm life before. Thanks so much for this video!
Thank you! So inspiring.
We support you lloyd. We live in hk too and watch alot of your videos.
All the best to you and Em!
This was refreshing. First off I'm very impressed with your ability to express everything in such a highly immense, intelligent manner. Having a client call in for some urgent work which disrupts your entire weekend can be extremely frustrating and then having that happen often can really make you hope for a basic 9-5, no on-call life. Extremely understandable. I hope you've found a recovery of such mental exhaustion and have started living comfortably. Best wishes with your pursuit of meaningful living and my question is - Are there law firms that don't have on-call and have fixed 9-5 hours?
Thank you for the awesome feedback! Some in-house roles are more 9-5, but private practice is usually less predictable.
I’d been several years in private practice, was never very good at it (nothing too demanding intellectually, just not organised enough, and especially not good enough at sucking up to partners; I was always respectful). Now I’m in-house at a massive US tech firm, learning a new area. Hours roughly 9-7, 9-8. Money similar, but chaotically unstructured. Plenty toxicity too. Thankfully I teach jiu-jitsu which gives me plenty of satisfaction.
Congratulations on your courageous decision! It's so important to be passionate in what you do. Babysitting clients is only acceptable if they are paying you more.
Wish you the best in your future endeavours!
Nice work guys! Keep the videos coming.
Thanks for this video! I can definitely relate to some extent. Worked as a privacy lawyer for 3-4 years, quit (mostly because of reason #2) that you mentioned in the video. Took a coding bootcamp and today I am working as a web3 developer in the crypto space! I am enjoying every bit of the way and haven't looked back since!
I resonate with your reasons, I’m also a lawyer in HK and I decided to move in-house early on for a better work life balance!
Really loved the quality of your videos! All the best to you in everything :)
Wishing you all the best in no matter what you do! 😃
Here's to new adventures ahead!!
Dude!! This has been super helpful I’ve actually just quit my job at the end of December last year. And whilst I’ve found a job now, I spent the last two months in full on existential dread about whether or not I wasted opportunities, my degrees and should’ve just stayed in law to keep my family and colleagues happy.
This video just validated my struggles and I feel much more ‘sane’.
I’m looking forward to seeing more of your journey!!
Kindest regards
A former lawyer
So glad to hear this, and thanks for leaving such a thoughtful comment - we definitely wanted to share our experience for others who were going through the same (or a similar) thing. All the best with everything coming next for you!
Thank you so much for your sharing, exactly what has come to my mind, especially the part keeping this job to make everyone but you happy. This is really helpful for me with my mental health. Hope to hear more update from you
Not surprised by this ultimate decision after watching your other videos. The amount of Sunday night blues I sense...
Good for you! And what a HQ video once again :)
Congratulations on putting your self first!
Essential definition of law industry, the same it looks in Poland. Best greetings for You both
You inspired us all. Do Good lucks in your next adventures.
Insightful.
love it whn u shared what book u have read that made some sort of a difference in you. nice video man!
Thanks, Aaron!
It’s a horrible life. I put on 40kgs since I started as a corporate lawyer at a top tier Australian firm 5 years ago. I also have several issues with my lower back, hips and legs from sitting for extended periods. I’ve lost all my friends because I never have time for them. All I do is work, and when I’m not working I’m thinking about work.
All of the above is true, yet for some fucking reason I’m terrified of quitting.
You both make excellent videos - just goes to show how creative and talented you are (I personally think it would be such a waste for you to continue working full time at a firm with such unpredictable work schedules). Looking forward to learning more about your many hidden talents!
Thank you so much! ❤️🙏🏻
Thank you for sharing, finished
Good luck with the future! I’m / was from the engineering industry and I quit many years ago feeling I sold my soul to work and other people’s whims…my life is much better when not bowing down to others. Life with 3 kids is harder than any industry 😂
Just discovered your channel, and this video was so insightful, thank you! Had to subscribe :)
Best wish to your new journey
Love you guys 💖
You rock ! all the best for the next step :)
Important video, subscribed.
I was expecting this since a long time.
Thanks for sharing another great video! Could you share more about how you managed your billable hours? Thanks! God bless you and Em.
Thanks for sharing your story, and for being a great mentor and friend!
(ps love your new tan)
Thank u superstar trainee
Super proud of you guys as often times it’s really easier said than done but you actually courage up to quit what doesn’t feel right and to pursue something more meaningful in life🥺 A question for Q&A- how would you answer a question such as “tell me about your weaknesses” in an interview and can you give a personal example of how to answer this type of question? thanks! best of luck to you two 💓
Proud of you!
I am so excited about the Q & A. It is fascinating to hear about this career in other places. Do you frequently use Cantonese in and out of the Job?
My jaw literally dropped when I saw this video - having known you from law school and college, this is a huge surprise. But, I understand where you're coming from - everything is SO relatable - and I can't wait to see where life takes you both next! Enjoy California :)
Thank you, Christie! Haha - definitely a bit of a 180 from our uni days :) I suppose it's just another reminder that life has the potential to take us on interesting journeys. Thanks for all of the support towards our channel from day one!!
9:01 I love this!
For the upcoming Q&A: How did your friends and family react to the two of you both quitting your jobs as a lawyer?
great question. as an outsider in this industry, i think quitting the sh1t is a super wise decision
They loooooved it.
I’m thinking of getting a JD/MBA specifically because of some of these things that worry me (as a big law paralegal, I see the things you’ve mentioned) so that I could move into a business position and not have to do it necessarily by lattering in as an in house attorney first.
Oh my goodness. That takes some guts. Add oil you guys!!! Can’t wait to see what you get up to in the future =)
Congratulations!!
Wow, I am really looking forward to your next video.As a lawyer in the mainland after graduating from a good college, I always find my job lacking of self accomplishment .I even want to shift my career these days.Really admire your English, and you tell me how can you say English so fluently ?
Thank you Lloyd for the honesty. I left my corporate lawyer job too cos of the sacrifice of all the on and off time also and was self questioning whether it was the right decision. Really appreciate your honesty which makes me realise I am not the only one and realise theres more to life and career than private practice. Question: do you get scared about the length of time after you quit your job in pursuing your next job/ career move?
I wanted to be as honest as possible in communicating my thoughts particularly in case it helped anyone else in the industry realize that they're not alone in thinking/feeling these things. Very glad to hear that this was the case with you! Will answer your question in more detail in our Q&A video, but the short answer is that yes, it's been an incredibly scary time all around - but it helped to have planned for this to some degree, and similarly I don't think I've ever felt better about my life trajectory. Thank you for the support and thoughtful comment!
@@EmandLloyd how has china influence affect HK? Less freedoms? More corps leaving for Singapore?
Wishing you and Em all the best in your journey. It takes a lot to quit a profession. Will you and Em share tips on how to build up a runaway budget whilst working? And how do you do that when you have things like rent and the usual lifestyle elements in a city like Hong Kong? It would be great to know more about this. Thank you for sharing.
Liked before watching 😉
Question for Q&A: What coffee/tea do you drink to stay up or wake yourself up in the morning?
Any particular brand? What else does it help you stay energetic most of the time? Gym?
Your videos are so inspiring even I am not doing any legal related jobs🥰but l think the lifestyle and nutrition parts should be applicable for most of people who care about both mental and physical health haha