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ctl2010
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Posted - 09 September 2010 17:22
decide if the extra cash is worth it, remembering there may well be considerably more at the MC firm in the future if you reckon you can stick at it.
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crayfish
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magic circle firm
1) training at a MC firm opens you loads of doors, you can always move to that mid-sized firm after your TC and they'll still welcome you with open arms.. whilst the other way round is more difficult
2) also, you risk you might regret not having trained at a MC if u have the opportunity but don't do so..or at least I believe I would
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Generis1
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How is this even a question?
Obviously go with the firm you fell in love with. Sure you can go to a magic circle firm for two years and then return to the firm you liked before anyway...
That, of course, is assuming the firm you really like has vacancies in the area you wish to practice in? Or that they'll be interested in a magic circle "drop-out". It's going to look really good in interview when you're asked why you've come crawling back to them.
"Yeah, I really wanted that training contract you offered but I decided to get the hard cash instead before burning out and returning to the firm I considered second-best."
Also consider what happens if you accept the magic circle firm. A month into your training contract and you're at your desk at 10.30pm trying to get your head around strcutured finance or derivatives. The "prestige" gloss wore off pretty much right away. Sure the money is good but it doesn't arrive in your account for a week anyway and you have no friends to spend it with anymore. Bet that firm you "fell in love with" is looking mighty far away right now.
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Law101
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To be honest this is such a personal thing only you can decide. A lot of people dream of working in the MC but it may not be for you.
Personally I would go for the mid size firm because I know that I would never want to work in a MC firm - either now or in the future and no amount of money could make me want to take on the extra hours or stress. Plus you say you "fell in love with it" - if you like it that much then perhaps you will regret it if you go to the MC and hate the culture there.
That being said if you take the MC TC then of course it will be easier to move to the mid size firm in the future rather than being much more difficult the other way round - so that should definitely a consideration. And you might love the MC firm when you get there!
It all comes down to knowing your own personality and what you personally would enjoy more.
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Ping_Pong
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MC FIRM ALL THE WAY!!!!!!
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Legally_Brunette
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For me personally I would go with an MC firm (they are that hard to get into, i'd be flattered if they even considered me!) There are obvious pros- money/prestige/bigger clients/(arguably) better training/better opportunities and who is to say that you wont like the MC firm just as much as the mid-size firm? That said, it's all a personal choice.
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2we1rd
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Go with the MC firm.
The reason I say this is that you can walk into any other firm as an NQ. Some firms (no names) don't take on their own trainees but recruit externally. This means that you have a better chance being at those mid-size firms on qualification if you've trained elsewhere. Sad but true
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CrimsonViper
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It sounds like you've already made your mind up... I'd say good luck and have the courage to see that decision through.
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chocolat
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As far as I can see it there are 2 advantages to working in the MC
1. prestige
2. money
If your priority is to be happy I would go for the medium sized firm.
One thing a lot of people have said is that you can get a job more easily in future from a MC firm. from my own experience (having applied to big and medium sized firms in the past) I found it much harder to break into the medium sized firms because they look for different qualities in their candidates and they have far less places. I find it so irritatingly snobbish when ppl assume you will 'walk in' to a smaller firm just because you have MC on your CV. It is not the case that candidates trickle down the food chain with the good ones at the 'top' MC firms and that all the other firms are fighting over these candidates.
You seem to want to be happy in your career. Which is exactly what I wanted. I would have completely sold my soul if I'd gone to a big corporate firm. You only need to look at Lex 100 or Chambers to see that people are on the whole much happier with medium sized firms. The positives for Freshfields are things like 'the deal I was working on was on the front of the FT' or it was worth so many million bla bla bla. Tbh who really gives a sh*t. They seem to be searching around in vain for nice things to say ...
Of course it is a personal choice at the end of the day. But I have first hand experience of both types of firm and HATED the very big corporate firm and genuinely loved the medium sized one.
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Mufcsan
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As someone who picked the MC Option - follow your heart. The prestige wears off at midnight on a Friday night/Saturday morning and the money ends up being not quite enough for the life sacrifices you make. (This assumes that your priorities are well being, family and friends rather than becoming partner by 30 at Freshfields earning 1 million or some such notion).
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girlinthefire
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I find it a bit sad that this is even a question. I know that a lot of the time it's about doing what's best for your career, but both are great career steps. From what you've said one is a genuine prospect of mid-to-long term happiness, and one is a genuine prospect of some serious money. In my opinion the former is much harder to come by than the latter. Seize the opportunity.
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Panthro
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If it is a mid-size London firm that you're going for then I don't think the prestige of the MC is as big a factor. If you're in a top 50 firm then virtually every name would look good on your CV. I know a few people with better academic records than many people in the MC who didn't even consider applying because they weren't really interested in corporate law.
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Nitefly
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It boggles my mind that some people go into the city for prestige to the point that I can't believe it's true.
Go to the firm you love - it's a no brainer.
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wewawewa
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you have to be cut-out for the MC and be really sure you see your future in corporate/banking/finance, otherwise you'll regret it later down the line and really won't enjoy your tc (and perhaps even your career).
you already know whether you're cut our for the MC or not - any concerns will certainly surface when you're in past 10pm for the third week in a row.
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Knowledgespeaks.wisdomlistens
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I went to see an MC firm and it had a bizarre lunch of whole prawns on sticks and other weird concoctions.
A lower tier firm had Krispy Kreme.
I know which I would choose!
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ohh
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Just get 2 years in at the MC firm. Can always go down, harder to go up. Simplez.
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wewawewa
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Can always go down, harder to go up
not so if you haven't gained experience in an area you would have otherwise been interested during your tc. also, MC firms are not renowned for providing the best training given the size of the deals they work on. if you want to be a form-filling document monkey, feel free to go the MC corporate route. if you want more hands-on exposure, i would suggest mid-tier practice.
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ohh
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"if you haven't gained experience in an area you would have otherwise been interested during your tc"
True, but that applies both ways. I do not know which firms the OP is looking at or what they want to do. I am just making a generalisation that an MC firm will open more doors in the future & is the "safe" option.
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