Factors important for lateral transfers?

[Velikilawyer123]

Hi all, I'm wondering what factors are important when hoping to do a lateral transfer to a different firm's transactional department, say between NQ and 3 PQE? I'm guessing things like size of deals you've worked on etc. matter, but I'm struggling to make an exhaustive (or at least semi-exhaustive) list.

Like does it matter if you did a client secondment? What about an international secondment (or both)?

University / grades? Etc.

Appreciate any input!

 

[Jessica Booker]

Hi all, I'm wondering what factors are important when hoping to do a lateral transfer to a different firm's transactional department, say between NQ and 3 PQE? I'm guessing things like size of deals you've worked on etc. matter, but I'm struggling to make an exhaustive (or at least semi-exhaustive) list.

Like does it matter if you did a client secondment? What about an international secondment (or both)?

University / grades? Etc.

Appreciate any input!

Levels of responsibility
Clients worked for
Complexity of the work completed
Level of autonomy for work given
Qualified to practice outside of the UK
Seats completed as a trainee (because that will potentially show your knowledge of other practice areas)

The relevancy of secondments really depends on the firm and department you are aiming for. Doing a secondment at a major client they have either just won or are hoping to win could weigh more heavily. Same if they are looking to build out their knowledge of a particular sector/industry. Same goes for international secondments - if they are bringing in more cross jurisdictional work between where you did your secondment and the U.K. office, that could be more attractive than in that particular instance. But for everyone who does a secondment, there is another trainee/associate who has gained really great experience in their seat/team - so it’s really the detail of the experience you gain rather the headlines of how you gained it.

Some firms can still be sniffy about academics but that can be university brand as much as your grades.

 

[Velikilawyer123]

Levels of responsibility
Clients worked for
Complexity of the work completed
Level of autonomy for work given
Qualified to practice outside of the UK
Seats completed as a trainee (because that will potentially show your knowledge of other practice areas)

The relevancy of secondments really depends on the firm and department you are aiming for. Doing a secondment at a major client they have either just won or are hoping to win could weigh more heavily. Same if they are looking to build out their knowledge of a particular sector/industry. Same goes for international secondments - if they are bringing in more cross jurisdictional work between where you did your secondment and the U.K. office, that could be more attractive than in that particular instance. But for everyone who does a secondment, there is another trainee/associate who has gained really great experience in their seat/team - so it’s really the detail of the experience you gain rather the headlines of how you gained it.

Some firms can still be sniffy about academics but that can be university brand as much as your grades.

Thanks so much for the advice!

So just zooming in on the complexity of work / autonomy given you mentioned, would this typically be (roughly) similar between, say, an M&A dept. in an SC / MC / US firm, assuming they all focus on for instance public mergers? Or do you reckon there can be a substantial difference between the "quality" of work handled by such firms?

Also, since you mentioned qualifications to practice outside of the UK, how can that play into the matter? Will it only be relevant if the jurisdiction you're qualified in is a relevant geographic target for your firm? Or will any secondary qualification be viewed as a net positive?

 

[Jessica Booker]

Thanks so much for the advice!

So just zooming in on the complexity of work / autonomy given you mentioned, would this typically be (roughly) similar between, say, an M&A dept. in an SC / MC / US firm, assuming they all focus on for instance public mergers? Or do you reckon there can be a substantial difference between the "quality" of work handled by such firms?

Also, since you mentioned qualifications to practice outside of the UK, how can that play into the matter? Will it only be relevant if the jurisdiction you're qualified in is a relevant geographic target for your firm? Or will any secondary qualification be viewed as a net positive?

No - they won’t necessarily be similar at all. They may not even be similar within a band of PQE associates within the same team, let alone the same firm, let alone across firms that are similar from a branding perspective. A strong performer is much more likely to receive more autonomy faster than an average performer. So I don’t think you can really compare across firms, because it will even be different within firms, and even within teams.

If you are dual qualified, you can sign off more matters from that jurisdiction - that’s only ever going to be a positive/added bonus.