Hey guys, my mate and I were discussing about their TC decision that I would love to hear your thoughts as I’m personally on a different path (my goal is mid size firms with niche seats so I don’t really have much to contribute).
For context, my mate got an offer from a US firm. But the thing is - this US firm is not the “popular” ones like Kirkland/latham/etc. I do see people applying to this US firm on here but tbf it is quite under-hyped for its reputation. My mate’s current career has people moving in TCs all the time, and they always move to Magic Circle firms for their TCs. Their concern is whether it would be an issue with moving firms from “non-popular” US firm and whether the “reputation” is comparable to MCs?
I appreciate all constructive discussions but please refrain from comments like “your mate should be grateful etc etc”. I have seen my mate work hard and build their CV so please be nice.
I know many will ask and I received permission to share about my mate’s background: did law, initially did not pursue law as progression at their current role was promised to be quicker, pivoting back as their role was not as fast-paced/challenging.
Side note (for myself!) anyone heard back from IM?
Just like what @qaz99 said, it does depend on market conditions at the time. Additionally, it also depends on their experiences within the firm. They don't need to have worked with market leading clients to show that they've done similar work as other firms. In fact, a good portion of Kirkland's associate recruits are from an international small firms that most may not have heard of. This won't always be the case, there are times where lateral hires are required to have come from prestigious firms but if your experience is top tier, and the work you've done is top tier, then why would any firm who wants to make a return on your salary reject you if you can showcase how profitable you are? My best advice is for your friend to leverage agencies like Career Legal in the second year of their TC to discuss potential options for lateral hires.It depends on a mix of what practice area they qualify in, the market conditions at the time of their qualification/when they want to move, and the firm's ranking in that specific practice area. I heard (anecdotal but from a lawyer at a US firm) that when PE was booming there was a lot of mobility even between firms you wouldn't necessarily expect that have a strong PE practice.
Also, what do you mean by 'under-hyped for its reputation'?
As for the niche seats, more often than not, the skills and knowledge can be seen as transferrable. Ideally, other firms would want more direct experience with a lateral hire, but as we're seeing firms constantly differentiate themselves and focus more on their clients industries to design their departments accordingly, I am sure firms are starting to strike a balance between expecting direct experience and potential ROI on the hire choice.