How to Research Law Firms
As summer approaches, candidates should begin considering vacation scheme and direct training contract applications. To do so effectively, candidates should develop a strategy. In short, this might begin by asking themselves:
Which law firms should I apply to?
What should I look for when researching firms?
How do I actually research individual firms?
Which Law Firms Should I Apply To?
To some extent, candidates should submit as many high-quality applications as possible. This is because the competition is fierce and it is wise not to put all your eggs in one basket. However, this does not mean that candidates should apply to any and all firms. If a candidate has a genuine interest in a specific sector, working environment, or type of work, it might be helpful to consider specific firms that align with those interests. To summarise, the first step is to know yourself. Therefore, when deciding which firms to apply to, candidates could begin by asking themselves:
What kind of work would I enjoy (e.g. private client, contentious or non-contentious)?
What kind of work/life balance do I want?
What sectors am I interested in (e.g. entertainment, private equity, energy)?
These questions are essential to making targeted applications. For example, if you want to work with musicians and the deals they make with record labels and publishers, the Magic Circle and elite US firms are not the right fit for you. On the other hand, if you are interested in private equity and capital markets, for example, these firms would make a great choice.
At the same time, it is important to remain open-minded throughout the application cycle and during your training contract. This is because you may discover that although you thought you wanted to gain private equity experience, technology and IP are where your interests actually lie in practice.
As a guide, if you are thinking about getting into ‘Big Law’, you may start by considering the following firms:
Elite US firms - e.g. Latham & Watkins; Kirkland & Ellis
Magic Circle - e.g. Clifford Chance; Slaughter and May; A&O Shearman; Linklaters; Freshfields
Silver Circle - e.g. Travers Smith; Ashurst; Herbert Smith Freehills
Boutique firms - e.g. Harbottle & Lewis; Clintons
What Should I Research About Law Firms?
For the purposes of this blog post, we suggest that you begin by researching:
The type of work a firm does
The training structure (rotational; non-rotational; 6-seat/8-seat)
Culture
As an aspiring solicitor, these three focus areas will be most relevant to you and therefore, help you in deciding whether or not you and a particular firm are the right fit.
How Do I Actually Research Law Firms?
Type of Work
Some questions that your research should aim to answer include:
What practice areas does the firm specialise in?
How does the firm maintain its competitive advantage in their specialist areas?
What is unique about the work they do in their specialist areas vs other firms?
What work have they done recently that interests me (if any) and why?
What is the firm’s position in the legal market?
Where will you find the answers to these questions? A good place to start is of course, the firm’s website. Usually, they will highlight any awards they have received in certain areas as well as any recent deals they have been involved in. If you are still struggling, or want to narrow down your search, try filtering the Legal 500 or Chambers & Partners by practice area and ranking—this should give you an idea of the main players in a specific sector.
In terms of understanding how a firm maintains its competitive advantage, we have found that the best way is to gain first-hand insight via an open day or online webinar. These usually take place between September and December. If you are completing your research and cannot attend these events, a good place to look is the Chambers Student True Picture site. Here, you will find information about the type of work that firms do, but also their culture, new offices and any key partners, for example. It is important to then consider how these elements tie together to remain competitive in the legal market.
With this information at your fingertips, you must analyse what makes a particular firm’s work unique. For example, Kirkland & Ellis almost exclusively represent private equity sponsors, rarely corporates. In contrast, Slaughter and May act for some of the largest FTSE 100 corporates and avoid conflict by not acting for financial sponsors (although this may be changing). It is up to you to determine where you want to work, but the important thing will be to understand why you have a particular preference and make that clear in your applications/interviews. Think about whether you think a firm has a good strategy, what its strengths and weaknesses are, and how you could contribute.
Once you understand a firm’s business model and why you would be a good fit, the next step will be to evidence your conclusions. What deals demonstrate a firm’s strategy working? Has it ever gone wrong? What would you have done differently? To help with this, it is worth reading the FT, listening to podcasts and signing up to regular newsletters, for example, to maintain your commercial awareness. This will help you to imagine the kinds of legal issues that may come up in a typical transaction. Authors may also have written around certain deals, providing insights which may inspire your own opinions, which will be helpful at AC and interview stage.
Training Structure
Most firms operate a 6-month rotational training structure. However, others like Jones Day and Freshfields opt for a more fluid programme. Jones Day has a non-rotational training structure where trainees find work themselves and sit amongst each other. In contrast, Freshfields has a unique 8-seat training programme, with rotations happening every 4 months rather than the traditional 6-month rotations. As you pursue a training contract, you should reflect inwards and consider what kind of programme would best suit you. Are you someone who would prefer to knock on doors and work across various departments simultaneously? If so, Jones Day might be a great fit. Alternatively, you might be someone who prefers more structure and guidance, at least in the early stages in your career. If this is you, perhaps a firm like Slaughter and May or Latham & Watkins would suit you better. Or, are you somewhere in between—you want structure but you would also like to experience as many practice areas as possible before choosing where you will qualify. In this case, Freshfields might be the firm for you. Of course, these are only a few options. Your research should reveal the nuances between each firm’s training programme and allow you to make an informed decision about where to apply.
A top tip is also to go beyond firms’ websites. Recent vacation scheme students or future/existing trainees can provide real and unique insights into a firm’s training style, which can inform your applications and allow them to stand out. Therefore, reaching out via LinkedIn can be very helpful once you have an idea of where you want to apply. However, make sure you do not waste their time! Prepare well thought-through questions—this might be your first interaction with the firm and leaving a good impression can go a long way! If you are not sure how to write an initial message, here is something to get you started:
”Hi [Future Trainee],
Congratulations on your training contract!
I am in the process of writing my application to [insert firm]. I am particularly interested in learning more about the firm’s training structure and your personal experience more broadly.
Would it be possible to arrange a quick call or coffee over the next couple of weeks—your thoughts would be hugely appreciated.
Thank you!
Best,
[Insert name]”
At the same time, please take time to see if there are any firm-specific events with the graduate recruitment team. During these events, you will gain access to a vast amount of helpful information such as the firm’s training programme, its assessment criteria and perhaps most importantly, the opportunity to interact directly with people at the firm. Again, attend with well thought-out questions prepared!
On top of these options, do not forget to utilise sources like Chambers Student and Legal Cheek as they often provide a good overview of a firm’s training.
After conducting this research, the key is again to reflect and understand why you would suit a particular firm’s training programme.
Culture
When we speak about a firm’s culture, we are not simply considering whether or not it is ‘nice’. All firms will claim to be ‘friendly’ and most will hire great people. Therefore, this is not a good metric to go by. A better way to think about culture is the mentality of the firm and the people who work there. For example, do they want you to progress to partner as quickly as possible, perhaps via a ‘fast-track programme’? Or, do they invest in your personal development by offering funding for specialist courses that would benefit the firm’s work in niche areas? It might also be that certain firms are big on offering early responsibility to junior lawyers and therefore, have an entrepreneurial atmosphere.
This is important to consider because you may be someone who prioritises growth amongst all else. You may also be someone who wants to maintain a better work/life balance. Researching a firm’s culture will enable you to discover which ones align with your own values. This should inform your decision about where to apply and ultimately, make for a more satisfying career in the long term.
Resources like Legal Cheek and Chambers Student are great. However, there is no better way to learn about a firm’s culture than by asking people who work there or by gaining first-hand experience via a webinar or open day, for example.
Summary
Write as many high-quality applications as you can.
To start with, focus on researching a firm’s work, training structure, and culture. These are three core elements that will inform where you apply and undoubtedly come up in your applications and interviews.
Firm websites are a great place to start. Look to resources like Legal Cheek, Chambers Student, Legal 500 and Chambers & Partners for more information about a firm’s work.
Contact those who have experience inside the firms you are applying to for first-hand accounts.
Attend as many relevant open days, webinars and graduate recruitment events as possible.