All else being equal, is it better to join a Band 1 group at a less “prestigious” firm or a Band 2/3 at a more prestigious firm (in terms of lateraling, exits, etc)?

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I think more prestigious is always good earlier in your career and you can lateral to less prestigious later.

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Do you want to move because your current firm is problematic in some way or because you believe that a move may improve your future prospects? Or both?

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Band 2/3 @ more prestigious firm. Prestige of other practices oro

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(Con’t) Prestige of other practices can and will provide a nice buffer whenever your practice runs into issue. For example, some less prestigious firm’s band 1 practices are completely on the shoulders of one partner and if that partner leaves you are left at a mediocre firm AND practice (speaking from personal experience).

Also, firm-wide practices/policies of more prestigious firms can make BL a little bit more bearable (eg, reimbursements, benefits, etc.).

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Depends but I would lean to the band 1 group. Having been at a band 4 group and a band 1 group (band 4 was a prestigious v20 firm whereas band 1 was a v50 firm) the difference in complexity of work was amazing.

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This said band 1 vs band 2 is probably not worth a huge drop off on firm prestige

I’d probably rather join a Band 2/3 group at a V20 (assuming good culture) than a Band 1 group at a V50. But in any event, I wouldn’t join a Band 4 group at any firm (unless it were a mid/later-career move to improve partnership odds, lifestyle, or something along those lines).

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I’m in the process now of lateraling from band 1 in my practice area for a firm overall ranked in lower end of v50. I have had amazing success and having my firm on resume is definitely getting me in the door. If the reputation actually carries within the practice area it seems like that’s what matters

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On another topic, is it a bad idea to join a firm to work for a band 4 partner?

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