Have Reached the End of My Biglaw journey. Advice?
I am currently a 10th year at a V50 in Cleveland. Long story short I have been there for almost 6 years had all positive partnership signs and crushed my hours for years but didn’t make it. These things happen and frankly need a lifestyle change anyway. Now seems like a good time period but having a bit of an existential crisis. I forewent a lot of personal development to focus on my career (single, no kids etc.) so now I kind of feel a bit regretful about my life at 36 years old.
I don’t really want to move to another firm. My base is 300k and I have earned an additional 100k to that in bonuses per year (though I can’t keep that up anymore). The litigation practice really wears on me mentally. I have a fairly difficult time with anxiety and depression. I really don’t think lateraling (even as a partner) is going to fix that and I think I will find myself making less money in the same job if I leave. I have a good resume for staying in the Midwest or South (federal clerkships, top 10% from a T-75) for most jobs. But my problem is I don’t really want to do this anymore. My inclination is that government or teaching at a law school would be a better fit for me.
The massive silver lining here is that I have lived an extremely frugal lifestyle and made some solid money moves. I list it here because I think it is an important factor to my options. My current net worth breaks down as follows (though keep in mind this fluctuates by the day depending on the stock market)-1.1 million in a taxable investment account (200k of that is very accessible). 325,000 in retirement accounts (the vast majority of which is post-tax). 35,000 in HSA. 5,500 in gold coins (was inherited). In terms of liabilities there is nothing-no student loans, no housing payment, not even a rental agreement holding me down. So while you can always make more, I’m in a pretty satisfied that a reduction in salary won’t be catastrophic.
I am not in a situation where I am being pushed out and currently have good relationships with my firm. My heart just isn’t in it anymore. Anyone have any advice? What would you do in this situation? Thanks all for your time.