I am a City lawyer about 5 years pqe, and I think I'm done with it. I'm a commercial litigator (focusing on a particular sector), and I've just reached a point where I don't actively enjoy any part of my job - every aspect is just a varying combination of stress, tedium and annoyance. Changing firms hasn't helped, so I think it's private practice that I have a problem with. I hate the the obsession with billable hours and bringing in new work, and I never feel like I'm really contributing to my clients' business (I guess that's the problem with being a litigator - the best case scenario is you make the problem go away, you never improve anything). I am generally well thought of by the partners and always get good feedback, but I just don't like my job. I couldn't think of anything worse than being a partner, so ultimately there's no future in it for me.
It doesn't help that since I started working in the City I've been diagnosed with a chronic illness which causes chronic pain and really affects my energy levels. One heavy week at work will wipe me out for ages, and I won't really recover until my next holiday. Saturdays are invariably spent sleeping on the sofa trying to build up enough energy for the following week. I can work full time, but not more than full time as I am now.
I am the breadwinner in our house, so a very big drop in salary is not workable, but I am willing to take a bit of a paycut. Everyone I know who has left private practice has just gone in-house at a client. That is an option for me, but I'd be interested to know whether anyone on here has done anything different but still (a) fairly well paid and (b) using skills developed in private practice...