I don't know how comparable they are. My understanding is that the two are mutually beneficial and supportive; as with any social and professional network. In fact, all of the I.B.M./U.K. members that I'm friends with are also Magic Circle members. With the help of my friends, I plan to apply for M.C. membership on my next visit to Great Britain.
From talking with my U.K. friends and peers, I believe that the Magic Circle is only a bit more difficult to join than the I.B.M.. In fact, networking with members of the I.B.M./U.K. may give you a step up in joining the M.C. by introducing you to potential M.C. sponsors. From there, the interview/audition process insures that the M.C. candidates maintain a certain level of magic competence. The M.C. membership process doesn't appear much different from our own prestigious Academy of the Magical Arts at the Magic Castle.
I strongly believe in and support the social and professional networking opportunities provided by our more prestigious magic organizations. The International Brotherhood of Magicians, Society of American Magicians, Academy of Magical Arts, Fellowship of Christian Magicians International, Canadian Association of Magicians, KIDabra International, and the Magic Circle (to name the top few) all offer unique opportunities at different levels for all devotees to magic.
Supporting them supports us all and conserves our art. As with any network, the more you give - the more you benefit.
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