The Legal Cheek View
Cast your minds back to a bygone era — to an era of flip phones and Hotmail, when the Spice Girls burst onto the scene with Wannabe, Charles and Diana publicly announced their divorce and Dolly the Sheep was making headlines. That’s right, it’s 1996 and that’s how far back you’d have to go to find a time when US elite Gibson Dunn & Crutcher wasn’t reporting global growth and growing revenues.
On its twenty-eighth year of consecutive growth, Gibson Dunn has shown no signs of slowing down, posting revenues which surpassed the $3 billion dollar mark, rising over 12% from last year to $3.07 billion (£2.37 billion). Profits per equity partner (PEP) have increased even quicker, growing over 13% to a staggering $5.58 million (£4.4 million) — this was aided by an 8% decrease in the number of equity partners which now sits at around 314. To add a bit of context to these hefty numbers; PEP at the top performing Magic Circle players sits just above the £2 million mark.
Managing partner Barbara Becker described 2023 as a “remarkably successful” year for Gibson Dunn, crediting the continued success to a balanced performance across litigious and transactional practices as well as investment in fintech, digital assets and key practice areas such as private equity.
Indeed, the firm has come a long way from its LA beginnings. After being founded in 1872 by 34-year-old corporate lawyer John Bricknell, the firm quickly became the biggest player in the City of Angels, before expanding across California, the US and, by the 1970s, overseas. Gibson Dunn now boasts 1,900 lawyers across 21 offices worldwide, most recently setting up shop in Riyadh, after poaching a seven-strong Saudi team from East Coast rivals White & Case.
The London office, which opened in 1979, plays host to over 150 lawyers and regularly works on some of the biggest deals in the City — recently advising on the Canary Wharf Group’s £535 million loan for its residential Wood Wharf development. GD’s stand-out clientele list also means that its lawyers in London frequently handle headline cases involving some of the world’s largest multinationals such as Apple, Amazon and Meta (formerly Facebook), whom the firm advised on the probe into its data protection breaches following the Cambridge Analytica scandal.
If that wasn’t enough, budding trainees might be keen to learn that Gibson Dunn currently offers the highest going rate for newly qualified (NQ) lawyers in the country, with a recent hike taking NQ salaries to an eye-watering £180,000. Trainees with the firm earn £60,000 in their first year, and £65,000 in year two.
But only the select view will be blessed enough to see themselves atop the junior lawyer money-tree, as GD only offers around nine training contracts per year in London. The firm has been recruiting in the capital in 2015 and has found success with a small cohort size, which allows its London recruits greater opportunities to get their hands on some of the firm’s top-level work.
Trainees rotate around four six-month seats with the opportunity to spend time in corporate, finance, dispute resolution, employment, tax, competition and funds teams. The training is not particularly structured with our sources telling us that “Gibson trainees tend to learn on the job rather than have comprehensive formal training” — a trend adopted by many US outfits across the City. That being said, there are some “regular training sessions that are offered which are very helpful for the day-to-day tasks trainees do”, according to one LC insider.
Those who get a chance to be involved in litigation may meet a rather notable partner: Charlie Falconer KC, ex-Lord Chancellor and first Secretary of State for Justice under the Blair government!
As far as the work goes, “the transactions we work on are often cutting-edge and high profile meaning the work tends to be exciting even if mundane in nature” said one LC spy. Rookies are encouraged to get involved with as many matters that interest them and this fluidity has its advantages. As one insider points out: “What is great is the amount of flexibility you are given and control over your own work.” Trainees frequently share a room with either a partner or senior associate, so that they can discuss any queries they may have about work (but don’t panic!). Our sources rate their higher-ups as very approachable, and partners are said to be “always happy to discuss matters with you and share their views”. What’s more, all new lawyers in London — not just trainees — are also assigned a “buddy” to ensure their integration into the firm is as smooth as possible.
Juniors are also encouraged to engage in business development (BD) with clients and a $1,000 (£830) allowance for BD each year is provided to support this. On the pro bono side, Gibson Dunn’s London solicitors worked for Gina Martin to make upskirting a criminal offence. The London office also set-up an environmental committee. Firmwide, Gibson Dunn lawyers made a huge effort to assist Afghans at risk from the Taliban takeover following the collapse of the government in Kabul, providing pro bono legal services on evacuation efforts, immigration, resettlement and other legal needs. In addition to all this, Gibson Dunn provided pro bono services to displaced individuals and non-profits navigating the sanctions regime resulting from Russia’s invasion of Ukraine.
Counter to its harsh US cut-throat image, trainees at Gibson Dunn support each other and maintain close relationships. “We have an incredibly close trainee cohort which socialises outside of work when we can,” one rookie tells us. The small trainee intake is said to foster a really supportive network amongst new recruits, with regular socials like Gibson’s annual bake-off. “We always pitch in to help each other out where required!” another insider told Legal Cheek. It helps that they get to know one another during Gibson Dunn’s trip to California for the ‘New Lawyers Academy’. The firm has flown lawyers from all 21 offices to the luscious Palm Springs — quite an experience! The supportive vibes are spread across senior levels of the firm too. Partners and superiors are generally approachable and, according to one insider, “My colleagues are genuinely some of the nicest people I’ve ever met.” Another source agrees: “Partners really want you to get as fulfilling a training experience as possible and I learn a lot from them.”
Besides a market topping pay packet, there aren’t a huge number of perks at the firm and trainees are definitely expected to earn their keep. “I have had very busy seats, and I find myself working on weekends and late at night more often than not,” one weary rookie reports, “there are, however, nice periods that are quieter.” Another source offers this more detailed overview. “Work/life balance varies. In some seats I’ve been consistently busy but have not had to work weekends and finished most nights at 7-8pm whereas in other seats it’s been much more up and down with some quiet weeks and some very hectic weeks where I’ve worked until the early hours of the morning and sometimes weekends.” That said, the source goes on to explain that the “firm is very supportive of people maintaining hobbies and interests outside of work and I have been able to go to twice a week hockey sessions pretty much every week since I started, by communicating this with my team and ensuring the work is done thereafter.”
Fortunately, the firm’s location next to some of London’s finer pubs makes for great catch-ups on days that trainees finish early. The office — an impressive Grade II listed building overlooking the Thames — is between Blackfriars and Temple, near the Royal Courts of Justice. Next door is Temple Gardens, a nice spot for an office break or meet-ups with any barrister chums as many chambers are located around the gardens.
The firm has adopted a flexible WFH policy, allowing its lawyers to structure their own office schedules, taking into account client and mentoring needs. Rookies are “given screens for a home-working set-up and can expense a table/chairs”.
For those of you looking further afield, you’ll be happy to learn that Gibson offers a six-month secondment to Hong Kong or Dubai. Trainees can also do a client secondment, with one rookie reporting a six-month stint at a large investment bank.