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I am a Singapore based Indian lawyer..
For peeps at Allen and Overy - it will be more pay but hellish working hours. American firms are worse. Infact I felt US firms are as harsh or worse than most tier 1 shops in India. US firms have very high billing target (even as a fresher associate)
But the good thing is - a massive payhike. US firms pay the highest in the whole world. No European firm comes close to US firms when it comes to pay. US firms also work on the best deals.
But European firms do have far better work life balance. It's not as horrible as US ones. Maybe I am wrong - but a friend in NY told that CAM/AZB and US firms are equally horrible.
There is no Indian tier 1 like yelling or shouting in US firms. But you will pack bags sooner.
But most US deals are done in NY. It has to be seen how this synergy will workout.
2. Recent talks given to future trainees (those offered a training contract who haven't yet completed the SQE) have hinted that there might be more chances for secondments in the US and more US deal-flows. In other words, the quality of professional development that trainees will be undergoing if this materialises is enhanced; the exposure levels for associates will also be going up.
3. Purely a hypothesis, as someone who is interested in the UK law school foreign university collaboration landscape (anyone who thinks otherwise, please explain why, will be interested to hear). They might increasingly value those who have knowledge of both the law of England and Wales and the United States, like those with LLB - JD qualifications - i.e., law students who have a UK LLB with an American JD added on (e.g., graduates of the KCL/Georgetown or LSE/Columbia LLB - JD programmes). This would be if they needed greater expert knowledge on US matters in London.