Big firms put their associates through hell, but small firms pay peanuts, says junior lawyer Louise Michael
As I ponder the wisdom of my career decisions to date, I've been giving some thought to the question of where the best place is to start a legal career. Is it better, in the long term, to go for a big law firm and accept that you may get lost in the numbers? Or do you go for a smaller firm and never expect to see your deal in print, but perhaps gain a broader range of transferrable knowledge?
There are obvious benefits to working for magic/silver circle firms and US firms - not least salary and prestige. And if these are your reasons for choosing a firm, then I think there's little to argue with going big. If, however, you're looking to become the best lawyer you can be, then I would suggest thinking twice.
Although you'll be trained well at a big firm, it'll be in a very narrow way - based on the limited tasks you'll be carrying out in relatively few subject areas. Big firms, it should be remembered, like to dedicate their junior employees to particular tasks, conducted repeatedly, extensively, ad infinitum. This is not only hard in terms of keeping your spirits up as you trudge through said tasks, but also presents problems when you're trying to give examples of the variety of work you've experienced when applying for new jobs.
Friends at smaller firms tell me the work they do is far more varied. With fewer people, there are just not the resources to dedicate individuals to specific tasks. As a result, they are healthily forced to understand a broader range of topics. However, there are also downsides, they say. One is that you don't learn to work under pressure particularly, or indeed get much practice at staying awake for 60 hours straight. That latter skill, in my partner's eyes, can only make you a better person. I'm not so sure.
What I am sure of is the fact that a small firm salary would mean I'd still be paying off my student debt at the age of 50. And what if you start out at a small firm and don't like it? Well, you'd probably be stuck, as it's easier to move down the law firm ladder than up.
Probably the best advice for aspiring lawyers is to choose the firm that has the best reputation in the area of law you're most interested in - assuming, of course, that you know what practice area you're most interested in. If not, we're back to square one - and to what I did, and what, in varying manifestations, most law students still seem to do: close your eyes and apply to whichever law firm your finger lands on in the top 50 table.
Louise Michael (name changed) is a junior associate at a City law firm. For more from Louise, see Stuck in a hole.
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COMMENTS (TOTAL 3 COMMENTS)
Arrant Nonsense
You don't work under pressure at a small firm? Try being the junior member in a team of three, buying a large portfolio when the seller is represented by a large firm with a cast of thousands, all at partner level. Or filling in for a partner on maternity leave for six months when you are 2PQE because, well, there's no-one else around to fill in for her.
And as for earnings - the market determines whether you can move to a larger firm, or not. One thing my time at smaller firms taught me was how to get and keep clients. That's a much better predictor and protector of my income than the size of the firm.
Anonymous -24 Feb 2010 | 16:26
one possible solution
One possible solution is to join a large international firm with a smaller office in the City - like a US firm for example. You get the benefit of the pay and the status, but work in much smaller teams with a lot of client interaction and responsibility. Downsides are that you need to do whatever work comes your way (even the work you feel you shouldn’t be doing as you are now too senior) and you don’t have continuous training or a knowledge lawyer at your disposal. You do get to own the problem though and there is a much less hierarchal structure. It is just a personal choice of what suits you best at whatever stage you are in your career.
John -24 Feb 2010 | 18:45
Blinkered nonsense!
What arrogant nonsense - the writer states that if she had taken a job at a smaller firm she would still be paying off her student loan at 50. I sincerely hope her legal skills are better than her arithmetic. By 50 at big or small firm I would hope that she had not only paid off her loan but a significant part of a mortgage too.
All the in-house lawyers I know and lawyers in smaller firms earn reasonable money - certainly better than a lot of other graduate employees I know. If you end up at director level in-house at a significant company you may well earn a salary equivalent to senior associates or partners in City firms. However, it is unlikely that if you begin your career in-house you will receive the astronomical starting salaries that trainees and newly-qualified lawyers receive at the larger City firms. This reflects that quite frankly anyone at the start of their career is only of so much benefit to a company.
It really is a life choice - If the huge starting salaries are your holy grail then be prepared to put up with long hours culture and narrow specialism. However, to suggest that anything else leads to a life of poverty is a lie that I am sure the recruiters at the larger City firms and those working there might wish to perpetuate. Wake up to life outside the magic circle or be honest with yourself that money is a key factor in your career choices.
Adrian Cornes -25 Feb 2010 | 12:28
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