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I would say kicks SA onwards in t-1 if you are in a good team
But cam competition doesn't even come close to SAM, AZB & JSA. These firms also wouldn't mind if you're A1 coming from tax background but you need to perform extraordinary in your interview for them to give you A1 position in competition team. If you're looking for A0 position, you've nothing to worry.
Pros:
Field involves mostly major clients. Currently, cases are ongoing against Google, Apple, and Meta. Cam and azb represent google. JSA apple and Sam meta nd microsoft.
Have seen cartel cases against biggest players in beer, cement, and automobile market. T1s negotiate decent billing amount from these US big tech / indian giants.
If there's any merger involving Softbank, Temasek, Chryscapital, BlackRock, or any such big equity firm, they pay high prices - could be usd / EUR billing.
In T1s like sam, azb, JSA and trilegal, it's really unlikely that you are not put on a big matter involving 1. Big Indian client, 2. Big tech (for or against), OR 3. Private equity firms.
Cons:
Limited opportunity. Handful of law firms
Zero to low exit opportunities. Where will you go?
If invested more than 4 years, can't do tax, disputes or corporate law bcz 1. No knowledge and 2. Demotion to A2/A1 doesn't make sense. However, tax people, cap marks people, corp law or even dispute folks can do competition law down the line. Ofc, it'll be challenging for a year but can be learned through experience. There are exhibits; however, the field is getting tricky now so other fields folks may not be able to switch after 5-7 years.
Reasons for tricky: CCI is inconsistent - you need to be skillful to gauge / anticipate CCI's response; cases in digital sector rolling out; merger control getting complex with newer laws and regulations every year now literally; markets are required to be studied in and out to make a competition assessment.
In any case, now is the best time to become a competition lawyer.
T1 firms have sophisticated clients that pay bomb for their work. Bring ECB into the picture and you can make good money. Some years into the practice when you get over the mundane documentation that a junior is required to do, you can wear multiple hats while leveraging your knowledge of financial laws. Banks will always make money and banks will always need lawyers for innovation even if it's just 5% of day to day in a b&f team, it's still challenging and rewarding both money and satisfaction wise.
1. Generalist (Transactions + commercial disputes) [Very few teams would do this]
2. General Corporate (Only transactions)
3. M&A, PE, VC
4. TMT (Corp +Advisory)
5. Banking Finance
6. Financial Reg+ Fintech
7. Cap Marks (Again better if you do both cap transactions +litigation)
8. Disputes
9. Most other
1. M&A/PE/VC
2. Banking and Finance
3. Capital Markets
4. TMT
5. Projects/Energy/Infrastructure
6. Disputes
7. IPR