After several weeks of feverish voting, and an equally frenetic period of number
crunching, RollOnFriday can finally reveal the results of the 2011 Firm of the Year Survey. This year's winner is Latham & Watkins. Congratulations.
Latham lawyers will no doubt be cracking into the champagne (still iced from last year's second place) in celebration of the excellent results which saw the firm top the charts in three of the survey's seven categories.
The "stellar" pay, as one might expect from a firm which isn't shy to thrown around mega-bucks, was crucial to the victory, scoring a magnificent 99%. And with NQs pocketing the best part of £100k, it's no wonder they're happy. "Basically we're all rolling in cash" trilled one respondent.
But pay alone isn't enough to take home the bacon; the firm also scored extremely highly for staff development, openness and social scene. Increasingly important differentiators between firms, especially at a time when hefty pay rises and the big bonuses of old are thin on the ground.
Where development was concerned Latham garnered praise (and top marks) for allowing a "high degree of autonomy and responsibility at junior - mid level" and for respecting staff, even at the "very junior" end of the scale.
The lack of supervision when people are busy (which is presumably pretty much all of the time) can be "scary". But, the consensus seemed to be that people feel "respected" and are "appreciated for the effort they put in".
Latham scored top marks too for openness (88%), which is good news for a firm which prides itself on its transparency. Initiatives such as the Associates' Committee, although sometimes wielding an almost frightening amount of power (for example, committee members are sent to lawyers' offices to read their appraisals to them), help lawyers of all levels feel they have a voice. And the interview system, which lets any of the firms' lawyers interview and score potential new candidates, gives staff a stake in the firm's recruitment policy.
Socially Latham seems to have enough going on to distract staff from the "relentless" hours, coming fourth overall with 81%. "Lots of social events and lots of banter" with "top notch colleagues" help the hours fly. The firm garnered particular praise for the quality of its lawyers, who are "genuinely lovely". Partners were described by one correspondent as "friendly and understanding", even though not "all [of them] will offer to buy all the drinks". Still, given the riches foisted upon associates, they can probably afford to stump up for the occasional round.
Unsurprisingly, it was work/life balance where Latham took a bit of a hit. After all a firm is not going to stuff your pocket with dollars for a 9 to 5 commitment and it scored a fairly average 64% (31st place overall).
"You'll be living and sleeping on your BlackBerry" when not in the office and "the hours culture is unforgiving for those that can't pull in the hours." Plus, the firm "could be better at making sure your holidays are sacred." But there's the rub, and Latham's staff seem pretty willing to put up with it. As one respondent said, "you get paid for it."
Finally, to the most important categories. Biscuits and toilets. Latham was pretty mid-table in terms of its comestibles. Sandwiched between Taylor Wessing and Clyde & Co with a middle of the road 71%. Similarly, it seems the firm's toilets have failed to excite staff, pulling in another middling score of 71%, far behind the porcelain heaven that must be Clifford Chance's loos which scored a monumental 91%. Still you can't have everything.
In a tightly-packed joint second place overall came last year's winner - and a firm "going places" - Norton Rose, still reaping the morale-boosting benefits of its innovative approach to staff retention during the downturn. There's a "great vibe" in the office; "top quality people without all the nonsense of the Magic Circle". That, and the Toffee Crisps (but boo to the rubbish Christmas decorations - again). The firm shares the silver medal with Hammonds which - although it suffered a bit in the pay category - has a great social scene and great toilets. Plus the caramel shortcake is "addictive". Also squeezing onto the podium are Ince & Co and Reynolds Porter Chamberlain, described respectively as "practically encouraging binge drinking" (seen as a good thing) and "very progressive".
Here are the stats for the top five firms overall:
All the results in their full statistical glory are available here.
And more details - including the breakdown of snacks, sanitary
arrangements and social life - will be revealed next week. Thanks to
all of you who answered the survey.
Tip Off ROF
Latham lawyers will no doubt be cracking into the champagne (still iced from last year's second place) in celebration of the excellent results which saw the firm top the charts in three of the survey's seven categories.
The "stellar" pay, as one might expect from a firm which isn't shy to thrown around mega-bucks, was crucial to the victory, scoring a magnificent 99%. And with NQs pocketing the best part of £100k, it's no wonder they're happy. "Basically we're all rolling in cash" trilled one respondent.
But pay alone isn't enough to take home the bacon; the firm also scored extremely highly for staff development, openness and social scene. Increasingly important differentiators between firms, especially at a time when hefty pay rises and the big bonuses of old are thin on the ground.
Where development was concerned Latham garnered praise (and top marks) for allowing a "high degree of autonomy and responsibility at junior - mid level" and for respecting staff, even at the "very junior" end of the scale.
The lack of supervision when people are busy (which is presumably pretty much all of the time) can be "scary". But, the consensus seemed to be that people feel "respected" and are "appreciated for the effort they put in".
Latham scored top marks too for openness (88%), which is good news for a firm which prides itself on its transparency. Initiatives such as the Associates' Committee, although sometimes wielding an almost frightening amount of power (for example, committee members are sent to lawyers' offices to read their appraisals to them), help lawyers of all levels feel they have a voice. And the interview system, which lets any of the firms' lawyers interview and score potential new candidates, gives staff a stake in the firm's recruitment policy.
Socially Latham seems to have enough going on to distract staff from the "relentless" hours, coming fourth overall with 81%. "Lots of social events and lots of banter" with "top notch colleagues" help the hours fly. The firm garnered particular praise for the quality of its lawyers, who are "genuinely lovely". Partners were described by one correspondent as "friendly and understanding", even though not "all [of them] will offer to buy all the drinks". Still, given the riches foisted upon associates, they can probably afford to stump up for the occasional round.
Unsurprisingly, it was work/life balance where Latham took a bit of a hit. After all a firm is not going to stuff your pocket with dollars for a 9 to 5 commitment and it scored a fairly average 64% (31st place overall).
"You'll be living and sleeping on your BlackBerry" when not in the office and "the hours culture is unforgiving for those that can't pull in the hours." Plus, the firm "could be better at making sure your holidays are sacred." But there's the rub, and Latham's staff seem pretty willing to put up with it. As one respondent said, "you get paid for it."
Finally, to the most important categories. Biscuits and toilets. Latham was pretty mid-table in terms of its comestibles. Sandwiched between Taylor Wessing and Clyde & Co with a middle of the road 71%. Similarly, it seems the firm's toilets have failed to excite staff, pulling in another middling score of 71%, far behind the porcelain heaven that must be Clifford Chance's loos which scored a monumental 91%. Still you can't have everything.
In a tightly-packed joint second place overall came last year's winner - and a firm "going places" - Norton Rose, still reaping the morale-boosting benefits of its innovative approach to staff retention during the downturn. There's a "great vibe" in the office; "top quality people without all the nonsense of the Magic Circle". That, and the Toffee Crisps (but boo to the rubbish Christmas decorations - again). The firm shares the silver medal with Hammonds which - although it suffered a bit in the pay category - has a great social scene and great toilets. Plus the caramel shortcake is "addictive". Also squeezing onto the podium are Ince & Co and Reynolds Porter Chamberlain, described respectively as "practically encouraging binge drinking" (seen as a good thing) and "very progressive".
Here are the stats for the top five firms overall:
| Firm |
Pay |
Development |
Work/Life |
Openness |
Biscuits |
Toilets |
Social |
Score |
|---|---|---|---|---|---|---|---|---|
| Latham & Watkins |
99% |
88% |
64% |
88% |
71% |
72% |
81% |
82% |
| Hammonds |
69% |
88% |
79% |
78% |
76% |
82% |
84% |
79% |
| Ince & Co |
73% |
83% |
80% |
73% |
78% |
83% |
86% |
79% |
| Norton Rose |
70% |
79% |
78% |
84% |
87% |
89% |
78% |
79% |
| RPC |
74% |
83% |
77% |
80% |
80% |
75% |
83% |
79% |
 |
Latham's London managing partner Nick Cline celebrating the good news |