All in-house counsel are lawyers who work directly for a company or organization, but the specifics of each in-house counsel role vary greatly depending on the employer. Companies of all industries and sizes need legal advice and risk management, so an in-house counsel can work as part of a team of 30 lawyers for an international organization, but can also be the sole legal advisor for a fintech startup. Despite similar roles, the main difference between a general counsel and a chief legal officer is the scope of their position. While a general counsel is often exclusively concerned with the legal function of the company, the functions of the general counsel are broader. They look at the work of the legal department in terms of how it intersects with the goals and performance of the entire organization. OCLs report to the CEO and generally have more direct access to the board than a general counsel. In-house lawyers who can handle legal transactions will be in high demand, as they can help companies avoid costly mistakes and ensure they comply with all applicable laws. • In-depth understanding and knowledge of commercial and corporate law. • Depending on the seniority requirements of the position, you may need to have a number of years of experience as a corporate lawyer working in-house or at a leading law firm. • Strong communication and presentation skills. • Excellent negotiation and writing skills. • The ability to establish and maintain strong professional relationships throughout the company.
• The ability to communicate complex legal issues and risks in terms that non-legal colleagues can understand. • The ability to work in a highly autonomous role. For graduates, however, things are starting to go well as companies look for other ways to minimize legal costs. Tired of the rising cost of outsourcing work to inexperienced junior partners at large law firms – whose average hourly rate approaches $300 – more and more companies are opting for the most cost-effective way to hire their own lawyers, fresh out of law school, to train them in-house. As a result, employment opportunities for in-house counsel are expected to increase in the coming years. Fortunately, there seems to be a recent resurgence of interest in in-house careers, suggesting that the programs are safe for now. “We`re seeing more and more students moving into intern summer positions,” says another senior law school guidance counselor. “And also more scholarships with the university`s general counsel,” which offer the opportunity to be part of a university`s internal board for a summer or sometimes an entire year. Some law schools, like SUNY Buffalo, even offer courses that specifically explore the role of corporate lawyers and the challenges they face.
“Direct hiring from within the law school is still rare, but it would be nice if opportunities increased to give law students another option. Also known as a single divisional lawyer and similar to the only in-house lawyer, a single regional lawyer is a lawyer who, while part of an organization`s broader legal team, acts as a sole advisor in a specific location, office or department. Ultimately, an in-house career can be extremely rewarding, but there are serious caveats to consider before immersion, especially at the beginner level. Students who choose this career change should try to gain as much work experience as possible during law school to enhance their resume – summer internships at large companies like Procter & Gamble are available regularly and can do you great favors when it comes to improving workplace skills and business knowledge. There will also be no shortage of relevant extracurricular activities, such as writing for a business magazine, as they show sustained interest in the corporate world. Because corporate law departments employ far fewer lawyers than large law firms, recent graduates are traditionally at a disadvantage when it comes to hiring: As another law school Bigwig points out, corporate law departments “generally prefer to hire more experienced lawyers than graduates directly from law school.” In fact, new in-house positions tend to be reserved for experienced recruits with more than five years of legal experience, so opportunities to secure an in-house position right after law school remain scarce. Despite their unanimous praise for the training programs mentioned, our interviewees were quick to point out that such programs are far from the norm. “The reality is that the number of companies that recruit in-house lawyers directly to law school is extremely low, although this number could increase in the coming years,” reveals a career dean. “Overall, people usually have to go to a large company for a few years before moving into the house.” In-house legal teams also include professionals such as paralegals, legal secretaries or compliance officers.
