Not long ago, in-house counsel positions were highly coveted and in far greater demand than supply. With recent consolidation trends, new law firm associate salary raises, and the often large compensation disparities between law firm partners and in-house counsel, deciding whether to accept that in-house offer requires due diligence.
Preliminary Research
Learn as much about the company as you can. Good sources of publicly available materials include Hoover’s, Yahoo Finance, Google Finance, and of course, the company’s website. Search the Internet for company news items from the past year and read the analysts’ reports. Finally, use your own network of personal contacts – do you know any former in-house lawyers from the company, or lawyers who might have worked on an outside counsel basis for this company?
Ask Good Questions
Part of your research involves asking good interview questions (see my post of August 2, 2007 on good interview questions).
Law Department Profiles
How long has the General Counsel been in the role? If approaching retirement, what’s the succession plan? Do you like, respect and want to work for this person?
Get information about members of the legal department. Simply knowing experience levels, titles and practice areas can be useful.
No amount of research, insightful questions and diligence can reveal every potential problem, but you’ll hopefully have a better feel for the department and the company before you take the job.
