Hi guys, please don’t hate me for asking this… which do I choose for TC.
Freshfields or Debevoise?!?
What a fantastic, but also rather difficult, position to be in. If it were me, here are some of the things that I would personally consider.
1. Salary: Money wise, you will be better of at Debevoise during your training contract, with you making - at an absolute minimum - £9k more. I say at a minimum because Debevoise may give a larger 'grant' as a sort of sign on bonus, but your contract should have all the details so you will be better poised to make a more sophisticated comparison. If you see yourself in commercial law after your TC, the difference only grows, with your NQ salary being £43k higher than your FBD's counterparts, and your bonus' also being much larger than (correct me if I am wrong) FF's discretionary £1k bonus. That being said, it is also worth considering that the difference is reduced post-tax and there are rumours that FBD could be increasing their salary if the current pay war escalates.
2. Interests: If you're someone who is interested in PE or Funds, its hard to go wrong with Debevoise. On the other hand, FBD's department variety absolutely dwarfs anything that Debevoise could offer you, so if you are interested in more niche areas from Shipping to Art & Cultural property law, Debevoise certainly isn't the place to go.
3. Environment, Culture and Working Hours: Working hour wise, you will probably be working the same-ish at both firms, which is to say a lot, however, US firms have a tendency (given their PE clientele) to demand that their lawyers occasionally work during the weekends etc. Essentially, from what I have heard, at US firms, times of the day and days of the year which are generally considered sacrosanct are less respected. Culture wise you can go digging on ROF to read about the personal experiences of lawyers at both firms, which to be quite frank, don't seem all that great.
Freshfields has not scored amazingly amongst ROF polls, which their culture being seen by the people who work there as below average, and Debevoise is even worse, with it ranking as the second worst firm (culture wise) according to a ROF poll about a year ago (if my memory serves me right). There have also been various comments on Legal Cheek and Fishbowl praising both firms for their culture that I have come across, but ultimately it is hard to discern such things from an outside perspective and you're best bet is to find an honest insider to share their experiences with you (easier said than done, I know).
Other things to consider would be (i) size - would you prefer working with a lot of people, or not many at all, (ii) responsibility and mentorship and (iii) pressure - would you prefer that the spotlight be on you at all times.
Either way, there isn't really a wrong choice since both are great firms and you will likely thrive at both. Just comes down to personal preference and long term goals.