What matters more, the agency or the account?

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Agency. A “good” client managed incorrectly can get destroyed. A “bad” client can be managed and taught by a good agency team. A non-sexy client can still make great work. I’m sure no one wanted to work on Tide, but look at what they did for the Super Bowl a few years back (for example)

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Agency.
You can have a shit account at a good agency and still potentially get good work out of it.
… but it’s hard to get great work on an account when you’re at shit agency.

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None of the above. The ECD is the single most important factor in determining whether you do great work or not. A good one can make your career

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Not really a right answer here, but I’d say the account.

That is if you want to be happy. If you want to maintain perception above all else…the agency.

The agency, because you’ll likely work on all different things when you’re there versus just the one you were hired for.

Agency. Individual accounts come and go. But a good agency has lots of opportunities.

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