Farrer & Co

The Legal Cheek View

“Perhaps”, senior Farrer & Co partner Anne-Marie Piper said last year, “you assumed that the majority of our partners were floppy-haired chaps called Rupert or Tristan”. The blue chip stereotype is both a blessing and a curse for this three hundred year old firm, solicitors to the establishment. On the one hand, venerable charities and landed gentry tend to be loyal clients. On the other hand, AI start-ups may not be beating a path to your rich mahogany door. If you’re fed up hearing humanities graduates bluffing about blockchain, this could be the place for you.

Stability is the watchword here – the firm had someone named Farrer as a partner at all times between 1769 and 1999, and has been in the same office in Lincoln’s Inn Fields for 200 years. (Admittedly, some of the 450 staff work elsewhere in Holborn these days.) The firm prides itself on building “long relationships” with clients – it got off to a good start with high-end bank Coutts in 1788, for instance. If that all sounds a bit stuffy, remember that it works in your favour: the firm’s trainee retention rate was 90% last year.

Back in the 21st century, profit per equity partner (PEP) was a cool £530,000 last year — still small change by the standards of the average Farrer client, but enough to pay first year trainees £38,000. And the “friendly and supportive” partners are “generally willing to put their card behind the bar for team drinks”, which is no harm either.

Farrer & Co know what they’re good at, and they’re adept at passing on the accumulated centuries of know-how – insiders describe the training as “exceptional”. If you’re not into private client work, this probably isn’t the place to learn your trade, although the firm is now about 50% commercial.

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Either way, the quality of work on offer is rated A* – “very varied and interesting”, said one respondent to our Trainee and Junior Lawyer Survey 2018-19. It’s not all livery companies, either: the firm was reportedly engaged by the Football Association to safeguard the privacy of the England WAGs (wives and girlfriends) during the World Cup in Russia. Superstar family lawyer Fiona Shackleton, solicitor to Princes William and Harry, spent much of her career here. If you ever saw yourself negotiating with Meghan Markle’s people about a prenup, give Farrer & Co a look.

The 20 trainees form a tight-knit crew – the firm scores top marks for peer support. “My colleagues are very friendly and ready to help”, one newbie says. It’s an A for social life, too.

The work/life balance is strong with this one: trainees and junior lawyers can expect to be out the door well before 7pm on average. That might seem like a lot of effort if you’re still on uni time, but just try Freshfields. “Generally”, we hear, it’s “much better than my colleagues in other firms and there is no culture of being in the office late just to be seen”.

The perks are decent – good health insurance balances out the free sandwiches. And Lincoln’s Inn Fields is a lovely spot for lunch. That may be just as well: there’s no canteen, and while the historic Peacock Room is “where it’s at, our desks… not so much”. Still, you can break it up with a client secondment: recent in-house excursions include a Premier League football club (West London, natch) and the PGA European Tour.

The firm has made much of its commitment to gender diversity in an age where a majority of practising solicitors are now female. 37% of Farrer & Co partners are female, above the national average of 33%, and three quarters of the new partners created recently have been women. The firm also prides itself on being “ahead of the curve” when it comes to employees’ mental health.

As you might expect from the stereotype, the tech situation lets them down a little on the Legal Cheek scorecard: “could do better but still very good” is one take.“We’re getting there”, one insider says, “one iPad at a time”. And Farrer & Co called the Love Island winners correctly, so there must be a TV in there somewhere.

Insider Scorecard

A
Training
A*
Quality of work
A*
Peer support
A
Partner approach-ability
A
Work/life balance
B
Tech
A
Perks
B
Office
N/A
Canteen
A
Social life

Insider Scorecard Grades range from A* to D and are derived from the Legal Cheek Trainee and Junior Lawyer Survey 2018-19 of over 2,000 trainees and junior associates at the leading law firms in the UK.

Money

First year trainee salary £38,000
Second year trainee salary £41,000
Newly qualified salary £64,000
Profit per equity partner £530,000
GDL grant £7,000
LPC grant £7,000

Hours

Average arrival time 08:53
Average leave time 18:40
Annual target hours 1,250
Annual leave 25 days

Average arrive and leave times are derived from the Legal Cheek Trainee and Junior Lawyer Survey 2018-19.

Annual target hours are 1,000 hours for first year trainees and 1,250 for second year trainees.

Secondments

Chances of secondment abroad 6%
Chances of client secondment 19%

Secondment probabilities are derived from the Legal Cheek Trainee and Junior Lawyer Survey 2018-19.

General Info

Training contracts 10
Latest trainee retention rate 90%
Offices 1
Countries 1
Minimum A-level requirement ABB
Minimum degree requirement 2:1

Diversity

UK female associates 67%
UK female partners 35%
UK BME associates 15%
UK BME partners 8%

Universities Current Trainees Attended