The Legal Cheek View
Consistently rated one of the best firms for training in the City, Mayer Brown’s newly qualified (NQ) associates are so well drilled that they’re often targeted by other US and magic circle rivals. “There is lots of training at MB and it is excellent, both internal and external,” a current trainee tells us. But two recent rises in NQ pay, which now stands at £75,000, is illustrative of a newfound determination from the firm to hang onto its talent.
Remuneration has previously been a bugbear at Mayer Brown, with its US-based management team opting against adopting MoneyLaw rates and instead choosing to follow what is a broadly silver circle junior solicitor pay scale. With profit per equity partner (PEP) at the firm standing at £1.19 million – broadly equivalent to magic circle firms – some believe it could be a bit more generous. However, investment elsewhere has seen PEP drop slightly this year on the back of marginally increased revenue, suggesting rookies may have to wait a bit longer for any further pay rises. Still, the rewards are obviously in place for those who make it to the top. And the quality of work is what you would expect from such a profitable firm.
In London, Mayer Brown concentrates on corporate finance, litigation and high end insurance work, while also boasting highly-rated niches in intellectual property and tech. Alongside standard trainee tasks in these practice areas like bundling, bibling, proof-reading and general admin, insiders tell us that there is “meaty work, such as drafting documents, interesting pieces of research, and attending meetings/court.”