Clifford Chance vs Freshfields

[veryindecisive]

I am currently choosing between training contract offers at Clifford Chance and Freshfields. I have found them to be similar in many ways and I am struggling to differentiate them. I would appreciate it if anyone has thoughts on this. Here is what I see as the similarities and differences between them:

Similarities: (1) Salary; (2) Top-ranked in litigation; (3) Top-ranked in private equity

Clifford Chance: (1) Good rankings in firm culture surveys; (2) Top-ranked in finance; (3) Possible marginally higher salary (as Freshfields allegedly doesn't pay bonuses to NQs?); (4) Strong in Corporate/M&A though not Band 1

Freshfields: (1) Top-ranked in Corporate/M&A; (2) Top-ranked in international arbitration; (3) New York secondments and Silicon Valley office; (4) 8-seat secondments; (5) Historically paid marginally higher salary but not anymore

Obviously they have particular strengths in different practice areas. I know I am more interested in transactional work, but I am unable to distinguish between Corporate/M&A and Finance at this stage.

One of my medium-term goals is to move to a US firm (or even to the US). From this perspective, Freshfields' US expansion and NY secondments are attractive. However, the small chance of getting placed in a NY secondment does not seem to be a sufficient differentiating factor. On the other hand, many US firms focus on finance and private equity, which are traditional strengths of Clifford Chance. Furthermore, Clifford Chance seems more well-established in the US legal market.

 

[TC fiend]

Seems like a lot of your considerations have to do with the long-term goal of getting to the US (totally fair and relatable). I think a good thing to ask yourself is how will you feel if you can't do a US secondment. Not to mention, moving laterally to the States is at least another 3-4 years off for you. You'll be training in London, so if I were you I'd first focus on what you want to get out of your time HERE.

That said, the best way to move into a US-based office seems to still be with a US firm, or at the very least a firm with a strong US presence. I have no personal knowledge of CC's US presence, so I can't say anything there. But Freshfields' US teams are phenomenal, and quickly snapping up lots of top dogs from other US firms and government institutions. Which, at the very least, might make a lateral move easier. Also, the NY capital markets team second their summer associates to the London office. Vice versa, all the associates I know at FF who wanted to do a US secondment managed to do one.

In terms of marginally better pay - really up to you. After tax, it may make less of a difference than you think.

 

[Jacob Miller]

If it were me personally, I would opt for Freshfields. Freshfields and CC are both phenomenal firms, but I personally see Freshies as trailblazers in everything they do. It also depends on what you want from your TC and career in terms of practice areas - if you're wanting finance/ banking, CC are the obvious choice; if you're wanting either disputes or high-value transactional, I'd be veering towards Freshies.

Don't lose sight of your gut instinct, though. It's all very well looking at Band X v Band Y in whatever practice area, but if your gut instinct is telling you that you're likely to be happier in one of those firms - go for it.

I am biased though - I was rejected by CC for Prime and my fiancee is a future trainee at Freshfields - so do take what I say with a wee pinch of salt.

Either way, it's an enviable position to be in so many congratulations.