Lawyers: Private Practice or Public Service? Four Career Tips

With January being the month of new beginnings, I thought I would offer some career advice for young lawyers and law students.

As they set off on their legal careers, budding lawyers may encounter a fork in the road. One path points in the direction of being an attorney in private practice. Other paths stretch out towards other possibilities, including the realm of public-sector work at a regulatory agency or other government entity.

Which path to choose?

While I can't offer a simple answer to that question, I can offer four related pieces of advice. These are based on my career experience, which is composed both of private-sector work and regulatory experience.

1.      Be an information sponge.

Being an information sponge certainly helped me early in my law career. When I was a summer associate in the DC office of Fried Frank, I made it a point to talk to partners and senior attorneys that I admired at the firm. Those conversations were very valuable. I sought out women lawyers, for example, and got their thoughts on juggling work and family. I also got perspective from lawyers who had worked in government, and that leads me to my second point of advice.

2.      Think curve in the road, not fork in the road.

As a summer associate, one concern I had was that private vs. public really was a fork in the road—heading down one path would close off possibilities in the other. I aired this concern in one of my brain-picking conversations with a partner. "Cindy, don’t think of it that way," the partner responded. "Think of it more like curve along the same road. And there may be several curves along the way." Those words gave me comfort that I could eventually work in the government, once I got more established and had chipped away at my student loans.

3.      Rotate.

Fried Frank had a program under which junior associates could rotate through different departments. It was a great system, because even if you didn’t like a particular area, it gave you a broad spectrum of experience, and that made you a better lawyer.

I would say that rotation is not only important for junior associates at law firms, but for all of us throughout our careers. As a private-sector lawyer, it's immensely beneficial to understand how the regulatory process works. Likewise, it’s also helpful as a governmental attorney to understand how businesses or organizations must apply those laws and regulations. Having that holistic view makes you a better lawyer, whatever seat you’re in.

4.      To thine own self be true.

One caveat to my earlier wisdom about being an information sponge is that occasionally you will soak up conflicting viewpoints, and that can be challenging.

Following my time at Fried Frank, I was a senior associate at Dechert. I felt that I had a good chance of making partner at that firm, but an opportunity opened up for me at the US Securities and Exchange Commission (SEC). At that time, there were people—good people—at the firm who advised me not to take the position at the SEC, given my prospects for partnership at Dechert.

That was tough, because my gut was telling me, "do this," but people that I respected were telling me just the opposite. In the end, I followed my instincts and went to the SEC, which turned out to be a great decision. I'm sure being a partner at Dechert would have proved a rewarding and challenging opportunity, but my time at the SEC was exceptional in many ways and really shaped who I am today.

To my fellow lawyers or lawyers-to-be, any perspective to add on the private/public practice curves in the road? I invite you to share your thoughts in the comments.

A securities lawyer, Cindy Fornelli has served as the Executive Director of the Center for Audit Quality since its establishment in 2007.