Tag: US firms

Lewis Silkin tops trainee satisfaction table as Future Lawyers results reveal what junior lawyers value most

Lewis Silkin is home to the happiest trainees and newly qualified lawyers in the UK, according to the latest Legal 500 Future Lawyers research, with the employment specialist edging out a competitive field led by Howes Percival, DMH Stallard, Bristows and Bird & Bird.

The results suggest that, while pay and prestige still matter, junior lawyers place just as much emphasis on culture, leadership, flexibility and meaningful work when assessing their firms.

Lewis Silkin emerges as one of the standout performers across the survey, appearing near the top of multiple categories. As well as producing the happiest trainees and NQs, the firm also ranks among the employers most likely to be recommended by their junior lawyers, alongside Addleshaw Goddard, Howes Percival, Bird & Bird and Mills & Reeve.

The national firm also ranks in the top five for perception of senior leadership, workplace culture and camaraderie, client contact, and approachable supervisors.

“I wanted to work somewhere that put its people first, whilst also doing top-quality work for market-leading clients”, Lewis Silkin trainee.

US firms also came up trumps in the survey results; Sullivan & Cromwell juniors hold their senior leadership in high regard. The firm also ranks highly for the quality of work on offer, client contact opportunities and retention confidence.

Akin Gump earned a top-five spot for inclusivity, approachable supervisors and satisfaction with salary and benefits. Kirkland & Ellis, Morrison & Foerster and White & Case also ranked in the top tier for their reward packages.

“The best thing about the firm is the genuinely friendly culture – working hours can of course be long but, as a junior, this is definitely made easier when you’re working with seniors that are appreciative of your efforts and that are willing to teach. I find that I learn a lot because the people that are giving me work will always provide context beforehand, even during time-pressured situations, so that I am aware of how my contribution fits into the bigger picture.” – Akin Gump trainee

Regional firms also performed well. Howes Percival – which has a presence across East Midlands, East Anglia, the South East, and the North West – recorded top-five finishes across an array of categories, including happiness, employer recommendation, leadership, inclusivity, client contact and work-life balance.

The survey also highlights the importance of early engagement with potential recruits. Fieldfisher tops the rankings for vacation scheme, followed by Bird & Bird, Mills & Reeve, Addleshaw Goddard and Herbert Smith Freehills Kramer. The results suggest that positive interactions influence perceptions well before trainees join a firm.

Elsewhere, Hodge Jones & Allen, Covington & Burling, Akin Gump, Osborne Clarke and Macfarlanes earned recognition for their commitment to pro bono and corporate social responsibility initiatives, while the Crown Prosecution Service tops the rankings for retention confidence, ahead of Anthony Collins, Haynes Boone, DLA Piper and Sullivan & Cromwell.

The results paint a clear picture of what today’s junior lawyers are looking for. Competitive pay remains important, but the firms earning the highest praise are those combining strong leadership, engaging work, supportive cultures and genuine opportunities for career development.

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MoFo ups City revenue an impressive 25% as US reporting season begins

Morrison & Foerster (MoFo)’s City revenue has lifted 25% for a third consecutive year, outpacing a strong global showing and kicking off US reporting season with a showing of expansive City growth.

The firm’s revenue increase to £38.6m comes amid a 10% global increase in the last fiscal year, from $1.04bn to $1.15bn. Meanwhile, revenue per lawyer grew 4% and profit per partner grew 5% to the highest levels in the firm’s history at just over $2m.

The firm’s City showing follows a strong performance last year, when MoFo’s London office, spearheaded by managing partner Paul Friedman, grossed over £30m, up from the £24m the firm reached in 2017.

A series of strong mandates over the last year propelled London’s performance, with MoFo representing SoftBank and SoftBank Vision Fund in numerous transactions, as well as continuing to act for the liquidators in connection with the $9.2bn liquidation and cross-border insolvency of Saad Investments Company.

MoFo has also engaged in a robust recruitment strategy in the City. In February 2019, high-profile finance partner Chris Kandel joined from US giant Latham & Watkins, where he served as co-chair of the firm’s global banking practice. The reboot of MoFo’s London office began earlier in 2018, when the firm hired finance lawyers Caroline Jury and Benoit Lavigne, as well as Kirkland & Ellis arbitration partner Chiraag Shah.

The results mark something of a turnaround for MoFo, with financials in 2014 showing London revenue down 22% to $26m while in 2015 the firm suffered an exodus of corporate and technology partners to Cooley. According to Friedman, the firm’s strategy for 2020 will now focus on integrating new hires and further building its core practices in the City. MoFo has already secured one hire since the start of the year, with equity derivatives partner Polly Ehrman joining the firm from Latham.

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This article first appeared on Legal Business.