LegalWeek's Career Clinic is always worth a read - mainly for the anonymous bitterness of those replying to the questions posed. But this week's is particularly interesting, because it's something I have direct experience of. Rather than post on Career Clinic, I thought I'd scribble down my thoughts here.
For those who can't be bothered to go to Legal Week, here's the burning issue: - "How do City firms get away with paying £30k less than US rivals?"
It's a fair question. How can, for example, Freshfields get away with paying £60,000, when the top US shops shell out up at £90k for NQs? The common perception is that you will get worked to the bone for that extra £30k. And you'll never make partner. But just how close to the truth is that?
As someone who used to work at a major US firm - and who was paid over £100k (plus bonus) at 2PQE - I'd say that US firms are, contrary to popular opinion, far more relaxed than your average MC firm.
Colours firmly nailed to the mast
I worked from home regularly, I didn't have to wear a suit or kowtow to the partners, I didn't have to get into the office at 9.30 on the dot every morning - in fact most days it was more like 10.30. And for £30k - just how much harder can you work? 25/8?
I was treated like an adult, in sole charge of my own career and given responsibility which elsewhere would appear negligent. If you wanted to work hard and do well, the opportunities to get to the top were there - I'm sure to exactly the same extent as they exist in the Magic Circle.
OK, so I worked long (corporate) hours - but there's nowhere in the City (and especially the MC) where you won't. But when I didn't have much on, there was no expectation that I'd be sat around at work (in my own office, to be sure). Speaking to peers from university and law school, my experience seemed so much better than life at Linklaters or Slaughters (although I didn't get a pension - but who cares about that when you're on six figures age 26?)
Ultimately, I just didn't like being a lawyer, so left after five years for something completely different. But it paid for my property, holidays, iPads. The reality is that lots of people won't be career lawyers. It's too hard, and largely impossible to lead a normal life whilst doing it. Most - in the City at least - aren't in it for the love of the job. No, it's largely for the love of money. So I say screw the much-vaunted "quality of training", sod the in-house dry cleaning, stuff the swimming pools and suck up the lack of extra benefits. Just make hay, and to hell with the murky future.
http://www.legalweek.com/legal-week/advice/1652084/career-clinic-how-city-firms-away-paying-gbp30k-us-rivals
For those who can't be bothered to go to Legal Week, here's the burning issue: - "How do City firms get away with paying £30k less than US rivals?"
It's a fair question. How can, for example, Freshfields get away with paying £60,000, when the top US shops shell out up at £90k for NQs? The common perception is that you will get worked to the bone for that extra £30k. And you'll never make partner. But just how close to the truth is that?
As someone who used to work at a major US firm - and who was paid over £100k (plus bonus) at 2PQE - I'd say that US firms are, contrary to popular opinion, far more relaxed than your average MC firm.
Colours firmly nailed to the mastI worked from home regularly, I didn't have to wear a suit or kowtow to the partners, I didn't have to get into the office at 9.30 on the dot every morning - in fact most days it was more like 10.30. And for £30k - just how much harder can you work? 25/8?
I was treated like an adult, in sole charge of my own career and given responsibility which elsewhere would appear negligent. If you wanted to work hard and do well, the opportunities to get to the top were there - I'm sure to exactly the same extent as they exist in the Magic Circle.
OK, so I worked long (corporate) hours - but there's nowhere in the City (and especially the MC) where you won't. But when I didn't have much on, there was no expectation that I'd be sat around at work (in my own office, to be sure). Speaking to peers from university and law school, my experience seemed so much better than life at Linklaters or Slaughters (although I didn't get a pension - but who cares about that when you're on six figures age 26?)
Ultimately, I just didn't like being a lawyer, so left after five years for something completely different. But it paid for my property, holidays, iPads. The reality is that lots of people won't be career lawyers. It's too hard, and largely impossible to lead a normal life whilst doing it. Most - in the City at least - aren't in it for the love of the job. No, it's largely for the love of money. So I say screw the much-vaunted "quality of training", sod the in-house dry cleaning, stuff the swimming pools and suck up the lack of extra benefits. Just make hay, and to hell with the murky future.
http://www.legalweek.com/legal-week/advice/1652084/career-clinic-how-city-firms-away-paying-gbp30k-us-rivals
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