News

Reed Smith keeps 10 out of 13 autumn NQs

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As applications for TCs at the international outfit soar by 54%

Reed Smith’s London office

The London office of Reed Smith has confirmed an autumn retention score of 77%.

Of the 13 trainees to qualify this autumn, 10 have secured associate positions at the international firm. Reed Smith’s energy and natural resources group will gain two new lawyers, while corporate and commercial disputes team will also receive two. The remaining newly qualified (NQ) lawyers will join structured finance, shipping, employment and IP. All are on permanent contracts.

Brigid North, training principal at Reed Smith, said:

“We are pleased to report that this year, 10 out of our 13 qualifiers will be pursuing their careers with us as associates. We continue to enjoy strong retention rates, which we believe are testament to the great effort we put into finding the right trainees, and into nurturing and investing in them once they join us. We send our congratulations to our new crop of associates and very much look forward to helping them fulfil their potential at the firm.”

North also revealed that the competition for training contracts remains fierce, adding: “It is also pleasing to see sustained appetite to join the firm at trainee level. In fact, applications for training contracts have increased by 54% since 2014, meaning we are even better placed to hire and retain the most talented and diverse candidates.”

The 2019 Firms Most List

Today’s news marks a slight drop on the firms autumn 2017 result. On that occasion, Reed Smith chalked up a rate of 86% (12 out of 14), including one rookie it rescued from King & Wood Mallesons (KWM) following the collapse of its UK arm.

Retention performance aside, our Firms Most List 2019 shows that Reed Smith’s new City recruits will start on a salary of £75,000, while trainees earn £43,000 in year one, rising to £47,000 in year two. It currently offers around 25 training contracts each year.

But what’s life like high up in the Broadgate Tower? In our Trainee and Junior Lawyer Survey 2018-19 Reed Smith scored an A* for its office and As for training, peer support, quality of work, partner approachability, tech, perks and canteen.

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43 Comments

Anonymous

One of my favorite LinkedIn influences works there. <3

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Anonymous

This post has been removed because it breached Legal Cheek’s comments policy.

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Anonymous

I’ll sue you.

(0)(0)

Anonymous

This post has been removed because it breached Legal Cheek’s comments policy.

(0)(0)

Anonymous

This post has been removed because it breached Legal Cheek’s comments policy.

(3)(0)

Anonymous

DDD

(2)(0)

Anonymous

PE

(2)(0)

Kanye

PEPE

Anonymous

Using names? Let’s use yours!

(0)(0)

Anonymous

Is a LinkedIn Influencer a real thing? Whoever it is should probably focus on doing their real job.

(4)(0)

Choo choo puff puff

The Legal Cheek puff machine is hard at work this morning

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Cecil

This post has been removed because it breached Legal Cheek’s comments policy.

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Anonymous

Another mildly amusing self-deprecating comment that fell foul of the censors.

What is the point coming here anymore?

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Anonymous

Top outfit.

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Anonymous

Lmao yeh no

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Anonymous

Very wide meeting room chairs. Just saying.

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Anonymous

What happened to the other 3? I want to know they are okay.

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Anonymous

moved to DWF

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Anonymous

Poor souls.

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Anonymous

RS is probably better than many, but not a place you want to stick around for long. Likely to be overworked, underpaid for the time put in – many better-paid roles out there. US but not US enough in London.

Recently lost a stack of people to Holland & Knight. And who would want to qualify into shipping? Serious loss-leader. Still, better to be there than Inces, marine insurance team off now, Singapore office heads also off. Oops…

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Anonymous

NQ rates at Holland & Knight?

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Anonymous

Probably pretty tidy.

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Anonymous

£85k for men, £36k for women.

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Anonymous

I’d rather bath my dad than work for RS.

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Dirty dad

Don’t think you’re getting out of it, sonny! I’ve got a big night lined up with your mother

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Clean mum

Drinking too many cans of Carling and falling asleep with a half eaten curry in front of the football isn’t a big night.

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Anonymouse

Makes perfect sense. You wouldn’t want to join a global firm with over $1bn in turnover and $1.2m in PEP (nearly twice that of some SCs and shy of MC), which does not impose absurd target hours and still hands out a chunky pay with a potential for a bonus…

So frustrating how lots of users just seem to denigrate most firms for absolutely no reason, and above all, on the basis of no factual evidence whatsoever. In everyone’s minds firms are either: (i) too elite and involve unsustainable hours, or (ii) plain bad.

Has anyone ever heard of reputable rankings? Check them out maybe?

My two pence.

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Anonymous

Indeed – same can be said for much of the mid-market – CMS, SPB, Ince, DLA, Two Birds etc.

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Anonymouse

Sure, but keep in mind that even the so called “mid-market” firms still feature some top contender departments. For example:

-CMS: banking & finance, technology energy

-Ince: shipping, insurance

-DLA: mid-market M&A, outsourcing, aviation

-Bird & Bird: IT & IP

The above is the reason why a good number of associates at “top firms”, i.e. all major US and MC firms come from less “elite” outfits. The reason is simply that lots of mid-market and less prestigious firms usually have their 1 or 2 outstanding departments from which top firms poach from by offering NQs cash in exchange for considerably higher working hours.

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Anonymous

CMS: real estate, real estate finance, funds, mid market corporate…

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Anonymous

1. Rankings only give one side of the story, and say nothing about culture or pay.

2. High pay usually equates to long hours but there is often a firm which pays more for the same long hours.

3. Get back to being beasted at RS.

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Anonymouse

1. Rankings give you a very good indication of the quality of the respective department and how it is perceived externally. Culture is pretty much a random factor, and most people would agree there is no set “corporate culture” at any given firm, as this greatly varies depending on the individuals/partners that compose your given team or who are staffed on your deals/matters.

2. True, but that difference is usually marginal, and most times a higher base salary does not equate the probability of being awarded a higher bonus (as this is mostly dependent on the firm’s overall financial performance).

3. Sure, and you’ll go back to your Thames Valley PI firm?

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Anonymous

This post has been removed because it breached Legal Cheek’s comments policy.

(1)(1)

Anonymous

Sweet, holy mother

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Anonymous

Struggling to find her account

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Anonymous

“Marthapetr” brah happy fapping

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Anonymous

???

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Anonymous

absolute creep

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Anonymous

What a disturbing comment, abhorrent

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Anonymous

Why doesn’t RS pay top dolla in London? It’s a US firm after all.

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Anonymous

Because its London office is large and came off the merger with Richards Butler, unlike US firms who started small in London then grew.

Not every US firm pays top $.

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Anonymous

Soft man, real soft

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Anonymous

Lmao @ US firm

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Comments are closed.

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