"I Understood Everything Except 'Debt' and 'Equity'"

Everyone has had the, "If only I knew then what I know now..." thought, so here's an article I commend highly to any junior associates who may be out there in the audience.

What do senior partners want from you?

• ask questions; don't assume
• have the courage to say, "I don't know; I'll get back to you on that"
• just as the first draft of a client letter or a brief will not be perfect, don't imagine you can walk into a partner's office to make an oral presentation without rehearsing
• bullet-proof your work in terms of typos, solecisms, and incomplete research
• take on as much as you can handle, but if something is going to be late, let the partner know as far in advance as possible
• find a mentor
• and last, be creative and be a contributor; just doing what you're asked is not enough.

I would add:  If you discover early on that you're not cut out either for the law in general or for the practice area you're in (I, for one, was an unhappy litigator but a delighted securities/corporate guy), don't be afraid to face up to it, cut your losses, and re-boot your career.  This takes more courage than nearly any other professional challenge you'll face (it's tantamount to admitting failure, or at least poor judgment), but if you're not passionate about what you're doing others will leave you far far in their wake.  Do it, the earlier the better.

And another thing:  Bone up on debt vs. equity.