Cleary Gottlieb Steen & Hamilton

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Overview

While Cleary is widely regarded as perhaps the premier international practice in continental Europe, the Manhattan giant seems to be struggling to live up to that billing in the City.

One Cleary associate writes that his firm is "committed to the London market and clearly seeking to grow its presence in M&A" but is "woefully under-resourced" for such a task and is "hamstrung" by poor organisation. He is also critical of a lack of "fundamentals - ranging from back and general office support to IT, to even having a policy in relation to expenses".

"For instance," he says, "the firm has only this year implemented a structured programme of training [yet] has operated an office in London for 30 years!"

However, life at Cleary certainly has its compensations. The contributor admits that "pay is excellent" - although this is in return for apparently "stringent hours".

"For me, the cardinal merit of Cleary is the extraordinary onus on intellectual excellence," says another Cleary contributor, who has also experienced life at a magic circle firm. "The work is of equal calibre [to the magic circle], but the knowledge and expertise that permeates the Cleary partnership and associate base is stunning. There is an ethos and premium on professional excellence that, while not always terribly pragmatic or easy to live up to, is admirable."

History

Culture

Communication definitely seems to be an issue for London-based lawyers at Cleary. One reader suggests that decisions made in New York or Brussels are poorly communicated to associates on the ground in London, where no internal publication is apparently available. He complains that associates "don't get copied on [firmwide managing partner] Mark Walker's memos".

"I think observations as to lack of clear organisation are, unfortunately, in part justified," adds another reader, who is also critical of a lack of back-office support and poor internal communication. Things do seem to be improving, however.

"During the recent increase in pay," he observes, pointing out that Cleary lawyers in London are on the same pay-scale as colleagues in New York, "a memo was circulated which for the very first time actually stated what the pay scale for various classes was. In the years I've been here we've always had to surf the internet to find out salary information, looking at the US legal press to find out what our pay grades are - and that is pretty much indicative of the opaque culture that exists."

However, the contributor is able to strike a more positive note.

"Thinks might be changing," he says. "A new generation of partners are emerging who are English-qualified, young and have served as associates in the London office. Maybe this will be the catalyst for proper organisation."

"Associates are paid handsomely, but the lack of support has an attritional effect and [the] absence of real managerial coordination sometimes hurts," writes one insider. "The hours can also be quite ridicuolous, particularly in corporate, financing and competition. Having worked in the magic circle, Cleary works its associate base much harder, whether intentionally or as a result of an absence of effective oversight."

He concludes: "I think associates suffer from a benign neglect, which has some merits of its own - associates are afforded considerable autonomy, which is good."

Key departments

National/international coverage

Key clients

Leading partners

Career prospects

Salaries

Cleary is well known for being among the best payers in London. Newly-qualifieds can pick up a whopping £92,000. Other pay bands are suitably eye-watering:

• one year PQE: £97,000
• two years' PQE: £106,000
• three years' PQE: £120,500

"Associates are weighed down with cash," notes one Cleary lawyer. "[But] Cleary in London needs urgently to consider how to improve quality of life for its associates - money only causes people to stay so long."

Recruitment

One contributor writes of the "extraordinary largesse [the firm shows] toward summer vacation scheme participants" - although he questions how well this goes down with existing Cleary lawyers.

Work-life balance

Diversity

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