DAC Beachcroft (London)

Our view:

Beachcroft had been desperately trying to reinvent itself – it dropped the “Wansbroughs” from its name and moved into flashy new offices in Bristol (“rather like working in an iPod”, grumbles one assistant). And on 1 November 2011, merged with fellow middle-ranking insurance firm Davis Arnold Cooper to become DAC Beachcroft (sadly not ABCD as RollOnFriday had hoped). But it seems there's still a long way to go before it can catch up with its rivals.

The surprisingly big Beachcroft – pre-merger it had over 140 partners, seven UK offices and branches in Dublin, Brussels and New Zealand –  hasn't turned in a stellar performance over the last few years. Turnover in 2008/9 increased from £114 to £121million, but profits per equity partner actually fell from £310,000 to £301,000. 2009/10 was a better year - turnover grew by 8.2% to £131m and PEP increased to £314,000. And 20010/11 saw another increase in turnover, which rose 2% to £134m.

That the firm’s associates still pan the firm for poor pay however, and uncompetitive salaries have been an issue for years. “The pay is dire, even for the provinces”, “pay has improved but it is still below what I can get down the road at Bird and Bird”, “the pay is not competitive enough to retain key talent” are all cries from assistants. Whilst support staff complain that there have been "no payrises for years now" with one lamenting "do we really need boasting emails about the thousands spent on the GCSE art work covering the walls when some of us haven't had a payrise since April 2008". As one put it, “if only top brass would accept that rate of pay is the sole reason why staff turnover at junior fee earner level is so high and do something about it.”

The firm has shut down its international practice group and decided instead to foster best friend relationships with firms across Europe, so that might save a few quid. And there are other things it could be doing to make staff happier. One associate comments that the flexi-working scheme which was introduced as a "trial idea" seems to have disappeared off the radar, and “the firm needs to put this in place promptly to make up for the lean salaries paid compared to rival firms”.
 
It’s not all grim. Plenty of lawyers write in to praise the firm’s work/life balance, chummy atmosphere and good social life. “Money grabbing psychopathic assistants and unconcerned slave driving partners tend not to be attracted to Beachcroft, which helps keep the firm (almost) full of friendly people who are good at what they do but don’t see work as the primary reason for breathing.”

And the firm’s made some strides in broadening its practice too. Historically known largely for its insurance litigation expertise, it now gives commercial legal and litigation advice to a number of industries including financial institutions, the health and public sector (which has seen a particular investment over the last year), real estate, technology and industrial and consumer goods and services.

And the concentration on its healthcare practice has drawn the firm's eyes northwards from its traditional focus on the South. The firm launched its Newcastle branch in 2008 following the hire of three of Eversheds' clinical negligence partners. And over the past year Beachcroft has also bolstered its Manchester office with the hire of a healthcare team from Halliwells.

So what now of the firm - which will have an estimated combined turnover of £190m (propelling it up into line with the likes of Taylor Wessing but still a way below rival insurance Clydes) - now it has taken the plunge with DAC? Well the first joint announcement issued by DAC Beachcroft was to say that trainee recruitment was cancelled undefinitely. Not wholly positive but hardly surprising given that pre-merger both firms took on 75% fewer trainees in their 2013 round.

It looks as if it will be a time of consolidation for the firm, which will be hoping that cost savings (including ditching under-performers) will lead to a slicker outfit able to compete more effectively with rivals.

It's very much a case of watch this space but for now if you're after decent hours, civilised targets and a friendly environment this firm is not a bad bet. Just don't expect to be paid well for it.