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It's the experience of the recruiter you're working with that matters, not the size of the agency.
True, you are more realistically working with a recruiter and not the entire agency - that said you should know what resources and connections the recruiter has.
From my view, a highly experienced and well connected recruiter at a small agency is likely going to provide you with more knowledge and options than a younger less experienced recruiter at a big more established agency.
I’ve had better results as far as more interview offers and more personalized attention and less ghosting with smaller agencies. I hear the bigger agencies will take you to really nice lunches and dinners though if you’re a top lateral candidate.
Bigger agencies seem to focus more on the easiest placements and ignore those who have less of a traditional background. The smaller agencies have been more willing to do the legwork to craft a narrative to tell a story to place a candidate with a gap on their CV or some other unusual background.
If you want to go overseas and get your visa sponsored or to big law, you may have better luck with a larger agency.
Honestly, the recruiter is more important than the agency. Interview a few and find one that you like and trust. Google them and their agency to make sure that they don't have a bad reputation. If they've been recruiting for less than a year, make sure they are at an agency with resources and connections. I, personally, feel that I'm a much better resource to my candidates and clients at my small agency since I'm given a lot more freedom.
The bigger places are for entry level. They pay the least so your going to get the least experience. Boutiques have much higher commission splits and only hire senior recruiters. No one good stays at a big company for long. If you’re looking for someone local, I have a wide network of recruiters.