Junior associate. Should leave my firm and I follow a new partner in another firms’s established debt finance dept., or follow a new partner creating another big law debt finance dept. ? I’m leaving my firm no matter what, but have to chose between these two options - I’m looking for the most interesting experience !

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FWIW, consider whether the partner creating a new department will have work. You don’t want to be in a situation where you’re slow/low on hours at the new firm. While there is some understanding (and expectation on the partner level) for slowness, it isn’t as nice in the associate level. Also keep in mind the caliber of work you’re going to get at the upstart department versus the established department (your other option). But all in all good choice to have and good luck!!

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Upstart partner is expected to have a lot of work and is very keen to hire a junior associate asap. She’ll be mostly sponsor side.

In the established department, things may be a little slower for the new partner, but I won’t be tied to him specifically so I would be able to work with the rest of the team (who I have heard is quite busy), on lender or sponsor side.

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Personally I would go for the established department. I am risk averse. I think there will be stable deal flow (and higher quality deal flow) in an established department and if they are lacking in juniors you may be in a good position to pick and choose partners/clients/deals to work for (just make sure you’re firm about not taking on too much).

I also wouldn’t want to be tied to just one partner. Have you worked with these partners before and really like them? Either way, in the long run, even if you love partner 1, you will learn more by working with multiple partners (and getting exposure to all their clients) and you will benefit from having multiple people who have your back and can vouch for you (even if partnership is not your goal, partners can hook you up with secondments, in-house gigs, even lateral opportunities at other firms (e.g., switching geographic market) if they like you). Also, worst case scenario, you never know when relationship may turn sour for you if you’re only working with one partner.

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I would go with the new dept, assuming that partner is a big enough rainmaker and generally valued by the new firm. I’ve seen lots of associates flounder at new firms when they lateral because they’re following a partner. The new firm doesn’t feel invested in you because they didn’t choose you so it’s hard to get integrated and to get people to back you when you’re up for partner. Everyone will just view you as “[New Partner’s] Associate” instead of a typical lateral. The partner creating his own dept will likely have bigger sway in promotion decisions than the partner joining an existing firm. And, presumably, if he’s developing a new group than there will be other new partners that you can integrate with.

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