Playing both at level 50+ (mage 52, necro 53):
Solo wise: both are great, when it comes to xp, I found my mage faster than my necro but this may have to do with my necro being an iksar. Overall a tie. When it comes to cash target, the survivability of the necro gives them an edge.
In group, it depends what you want to do: prefer being a support class with some dps thrown in, go necro, prefer being on the offensive, go with mage. Both have a genuine place in group although few necro know how to play their class in group giving us a bad rep. However I can tell you that anyone I grouped with on my necro will happily have me again grouping with them and I think I still have a lot to learn on that front.
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