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Our view...
Baker & McKenzie is most famous for
its
size. Based in Chicago, it now has 70 offices in 38 jurisdictions and a
total of around 3,500 fee earners worldwide.
Bakers has long had a policy of
allowing individual offices a certain degree of independence. Some
offices operated under distinct local brand-names, and the firm has always used
local lawyers as much as possible. For example every one of the 55 fee-earners
in its Toronto office is a bona fide Canadian qualified lawyer.
The problem of course, as
critics happily point out, is that this sort of approach does not
guarantee the same quality product the world over. It seems Bakers
has recognised this with their previous chairman Christine Lagarde
launching a concerted effort to improve
the firm's reputation through an increased focus on quality. Overseas offices
were forced to drop their local names, and the firm's aggressive "eat
what you kill" remuneration system for partners came under scrutiny.
London seems to have been
relatively untroubled by this, probably because it is still one of
the jewels in Bakers' crown. It is the largest London office of any
US firm in terms of number of lawyers (300) and fees generated
(£112
million). Even for a firm which pulls in around $1.5 billion a year,
that's a hefty wedge.
The culture is more that
of a 80 partner domestic practice than of a global mega-firm. Hours
tend to be UK rather than US. And given that Bakers generates more
income in Europe than in the States,
US partners are quite happy to leave the UK operation to manage
itself. It is generally seen as highly autonomous and, because it is staffed by
so many Brits, is thought of as the most "English" of the American
firms at which to work.
The London office does a
broad range of work, with
departments such as arbitration and property as well as the usual corporate
stuff - they now even have a business crime unit, made up of 16
partners and 31 other lawyers from throughout the office. All of it is generally well respected,
particularly on the IP, IT and telecoms front.
The downside? Well, pay
is OK for the partners - profits per equity partner of
£605,000 may not be troubling the likes of Linklaters
who pull in almost double the amount, but they're a colossal
improvement on the £375,000 they were a couple of years ago. But
whilst assistant wages are at the top end of traditional London
firms, they aren't a patch on what you'd make at rival US firms in
the City. And despite being the most
international of firms, its "local lawyers"
policy means that if you are after first class overseas experience, you'd
probably be better off in the Magic Circle.
However, if you are looking for
an alternative to mid-sized UK firms and see the possibility of overseas work as
an interesting fringe benefit, then Bakers is an option well worth looking into.
For
more information on Baker & McKenzie click
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For
more information on Baker & McKenzie click
here