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1. Much much higher revenues
https://en.wikipedia.org/wiki/List_of_largest_law_firms_by_revenue
2. Work on much bigger deals
https://www.kirkland.com/services/practices/transactional/mergers--acquisitions
3. Have more functional international offices
https://www.kirkland.com/offices
https://www.lw.com/en/offices
4. Pay their Associates much much higher, more than even investment bankers/ Experiences engineers at FAANG
https://www.biglawinvestor.com/biglaw-salary-scale/
5. Great perks for everyone- high bonuses, other gifts, (yes also business class travel for all associates if you travel for work)
Sladden Arms offered iPads last year to all its associates, another offered a whole Yard Barbeque grill
https://www.reuters.com/legal/legalindustry/more-law-firms-join-end-of-year-bonus-race-following-cravath-2021-11-24/
One firm pays 100 percent bonus to first year associates (400K), but makes them work 3500 hours billable.
5. PPP is really high due to Point 1
https://en.wikipedia.org/wiki/List_of_largest_United_States-based_law_firms_by_profits_per_partner
But depends on what you mean by "prestigious". Let me let you into the downsides.
1. Much higher billable hour requirements. Kirkland UK- work from 9 AM to 11PM on a NORMAL Day. Most leave or asked to leave in 3 years due to this.
https://www.businessinsider.in/careers/news/junior-lawyers-at-a-leading-us-firm-clocked-off-at-1128-pm-on-average-during-lockdown-a-survey-found/articleshow/87488144.cms
Ironic- have a good laugh- https://www.kirkland.com/-/media/publications/article/2021/01/strategies-for-achieving-work-life-balance-in-bigl/vault-career-advice-strategies-for-achieving-work.pdf
2. Work culture is very horrible as it borrows from the US workaholic culture. Magic circle is more relaxed and respect peoples time in holidays. Never the case in Biglaw
3. The intake is much lower for non US students.
4. They take few associates but manage a hell lotta work. So you could be staffed on multiple deals at once.
5. HR is horrible and just a rubber stamp like in one Indian firm I worked at
6. Has fierce competition among associates, partners, firms, client works.
However, there is this saying which is something on the lines of "If you want to become a partner at Kirkland, train at Linklaters" . This obviously means that the training at the MC firms is great but the pay after the trainee level is disappointing since the US outfits outpay most MC firms