Several opportunities have recently come my way. These involve jobs in the private sector – particularly in-house counsel positions in prestigious corporations. My fondness for corporate law practice and the flattery that came from being given these opportunities led me to pursue them for a while.
Corporate law practice in a corporation in ordinary parlance, is an in-house lawyer position or a corporate lawyer position. You’re essentially hired to lawyer for a single client: the corporation. You handle all its litigation and corporate matters and resolve all legal queries for the entire corporation, much like a walking encyclopedia except that not all answers can be found in a book. It’s definitely a tough job and entails 12+ hour days. I was excited to try my hand at this field because I truly missed corporate law.
My endeavors yielded positive results. However, the talks inevitably turned to compensation. I found out to my dismay that my current salary is the current salary of a corporation’s executives e.g. president, vice-president. Thus, these corporations will be unable to top or even match my current compensation.
My initial reaction was shock. These corporate jobs appear so prestigious and glamorous. These corporations have billion peso capitalization and yet pay so little!
While these corporate positions entailed longer working hours I was willing to deal as long as properly compensated for my time. Note that corporate lawyer jobs are managerial in character and therefore do not pay overtime compensation. Thus, the initial salary negotiation is important because it establishes your base pay not only for the current job but for subsequent promotions and subsequent jobs.
I finally decided to settle for my not-too prestigious current job for the moment and wait for a better opportunity to come by. In the meantime, I can just continue towards my goal of getting to the 2 million net worth mark! Not too shabby indeed. Have you ever encountered a similar shock in finding out the low pay in some big corporate jobs?
20 something lawyer