Lawrence Stephens

That identity is clearest in its client base. Lawrence Stephens’ bread-and-butter work lies with founder-led companies, privately owned and private equity-backed businesses, SMEs, entrepreneurs, challenger banks and the individuals behind them; in other words, people and businesses that are often still in build mode. This gives much of the work a practical, commercial flavour: incorporation, commercial contracts, funding rounds, M&A, employment, property, disputes, finance and the various legal headaches that come with scaling a business.

The firm’s corporate and commercial practice is central to this, with recent highlights including acting for Ansor and its portfolio companies on a stream of buy-and-build transactions across sectors including healthcare, dental, compliance, facilities management and fire and security. That’s not all Lawrence Stephens is known for, though. Its real estate practice works with many high-profile names in the fashion and beauty industry, with recent instructions including Canadian fashion brand GARAGE’s first UK flagship store on Oxford Street, as well as Salomon, Carolina Herrera and Arc’teryx among their client roster. Then there is the sport and entertainment team, with notable mandates including advising on Harry Kane’s move to Bayern Munich and Reece James’ long-term Chelsea FC contract, as well as anti-doping matters involving a top rugby league player and an elite sprinter.

In a unique twist for a City firm, Lawrence Stephens also has a substantial private client offering, with private wealth, succession planning, family and residential property forming part of the mix. That breadth is one of the firm’s biggest draws for trainees: this is a place where the work can move from founder-led M&A and property deals to highly personal family and wealth matters, involving very human stakes. Insiders say the firm has “a good mix of work and clients” and “definitely punches above its weight”, though rookies should not expect to be running deals on day one. As one trainee notes, the start of a seat can involve more admin-based tasks, before “gradually” increasing to more legal work. The balance also appears to vary by department, but for those prepared to earn their stripes, the quality of work seems to ramp up quickly.

There is an international angle too, despite Lawrence Stephens operating from a single London office. Its lawyers work with clients across Europe, the Middle East and South-East Asia, and the firm has language capabilities including Cantonese, French, German, Greek, Hebrew, Mandarin, Russian, Spanish and Swedish, alongside international desks covering East Asia, Europe, Israel, the Middle East, India and the US. Trainees should not expect a global office network or a six-month seat in Singapore, but the client base is far from purely domestic, and the Farringdon base acts as a single hub for work that often reaches well beyond London.

The office itself is at 50 Farringdon Road, a handy spot for trainees who like their commutes easy and their lunch options plentiful. Farringdon station is right next door, with the Elizabeth line, Thameslink and the Underground making it one of the better-connected parts of central London. The office has reportedly been recently developed too, with rookies describing it as “very modern”. The kitchen facilities are said to be nice and spacious, but “nothing to shout home about” — however, trainees are hardly short of alternatives. The area offers plenty beyond the desk: Leather Lane Market for street food, Exmouth Market for after-work drinks and dinners, Smithfield and Clerkenwell for historic pubs, and the Barbican and St Paul’s just close enough for a lunchtime wander. Legal tech is perhaps more of a work in progress: while juniors seem to enjoy the use of Copilot, some internal systems attract grumbles, with one insider claiming that some platforms we use “feel about 10 years out of date”.

The training contract is fairly traditional in structure, if not in feel. Lawrence Stephens recruits between four and six trainees a year and runs a four-seat model, with each seat lasting six months across a broad spread of departments: banking, corporate and commercial, dispute resolution, employment, family, private wealth and succession planning, real estate, real estate finance, regulatory, restructuring and insolvency, and tax. With only a handful of trainees each year and a high ratio of seniors to juniors, rookies can expect close contact with partners and a level of responsibility rarely offered by bigger outfits. The flip side, insiders suggest, is an approach that leans more on learning by doing than on formal structure. As one junior puts it, it’s “very hands-on experience from the get go.” Others note that what you get can be “department dependent,” with a small number of trainees feeling certain partners expect them to know a little more than they should — but overall the feedback is very much positive. The firm makes much of trainees being given autonomy from day one, engaging with clients early and being encouraged to build their own professional networks. For self-starters willing to embrace a steep learning curve, however, the trade-off is client exposure, meaningful responsibility and the sort of practical experience that can pay dividends on qualification.

Retention rates speak for themselves: the most recent figure is 83%, suggesting a very happy ship. The firm’s Flourish programme, its bundled legal services offering for start-ups, gives junior lawyers the opportunity to develop commercial skills beyond black-letter law, including prospecting, pitching and relationship management, very much in keeping with the firm’s founder-led client base. Trainees here are not just being trained to analyse legal issues; they are being encouraged to understand how clients are won, retained and grown.

Culture is one of the more distinctive parts of the Lawrence Stephens story. The Farringdon office is open plan, with no allocated desks, and the management style is presented as unusually visible. MD Steven Bernstein is known for walking the floor and speaking to colleagues directly. That supportive feel is echoed by juniors, with one insider reporting that “everyone is really supportive” and that it is easy to find help both inside and outside your immediate team. As with every firm, partner approachability can vary. One rookie rates the partners they work with as “10/10 approachable,” while another cautions that some are more approachable than others. That said, the feedback from insiders is that the partners are a pretty friendly bunch.

Trainees also enjoy an active social calendar, with everyone in the firm belonging to one of four houses named after former office locations (Baker, Portland, Wigmore and Morley) and first-year trainees appointed as heads of house. Points are earned through social, charitable and business development activities, and the year culminates in an annual sports day and summer BBQ where partners, staff and families come together for some friendly competition. One insider describes a “really good social life” with “lots of things going on”, while another notes that junior staff are encouraged to set up clubs and societies, with successful groups — such as wine club and film club — even receiving a budget. That said, a couple of trainees feel the social side has lost some momentum recently, with monthly drinks reportedly moved to quarterly after attendance dipped.

Wellbeing is also a clear priority, with a wellness programme that includes pilates, boxing and run club alongside webinars and mental health guardians. Hybrid working is in place, though trainees are still expected to engage properly with office life and the wider culture of the firm. Pay is described as market rate, with benefits including a health plan, pension contribution, 25 days’ holiday and additional time off over Christmas.