Goodwin Procter

The Legal Cheek View

A chance encounter on the streets of Boston in 1912 between Harvard classmates Robert Eliot Goodwin and Joseph Osborne Procter Jr. led to the creation of the Boston ‘start-up’ law firm Goodwin Procter. The young American duo decided to take the plunge and agreed to put $500 each into the firm. Over a century later, Goodwin Procter’s global revenue sits at $1.49 billion (£1.07 billion), up 11.7% on the previous year, while profit equity per partner (PEP) comes in at a cool $2.88 million (£2.07 million). London NQs can also earn an eye-watering £147,000, a seismic jump from a second year trainee salary of £50,000.

Goodwin Procter has seen its revenue double over the past decade owing to its ambitious strategy to be early on the tech start-up scene. That gamble has seen the firm’s revenues in its private equity, technology, and life sciences practices grow 16%, 11%, and 41% respectively. Goodwin’s top clients include the likes of Moderna, Slack and MyoKardia, with the firm hunting more success from its over 4,000 emerging client companies in its specialist areas of tech and life sciences.

Although the firm has been around for over 100 years, there is certainly a ‘start-up’ energy around the London office which has been drastically increasing its headcount in recent times. Goodwin only started accepting UK trainees in 2018 and is famous for pulling off impressive lateral hire sprees that has seen almost 100 partners lured to the firm over the past five years.

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The firm counts 13 offices internationally with tech hotspots including Silicon Valley, Cambridge, San Francisco and Santa Monica. More recently, Goodwin has made a headway into Europe, opening its Frankfurt office in 2016 and its Luxembourg gaff in 2019 with the aim of growing its finance and private equity offerings.

All this means lots of cutting-edge work in a very busy firm. One rookie told Legal Cheek that they had enjoyed “a lot of responsibility and intellectually challenging work”, but noted that sometimes members of the firm were “too busy to provide constructive training”.

That said, partner approachability doesn’t seem to be a problem at Goodwin, with senior members of the firm “always offering to chat or discuss anything” according to another trainee who has had the fortune to come across some less busy partners.

Newbies are also supported by a tight-knit trainee cohort and excellent legal tech that scored strongly in the Legal Cheek Trainee and Junior Lawyer Survey. None of the trainees we spoke to had undertaken a secondment, but perks include a gym allowance, access to wellbeing services and “good bonuses” on top of an already impressive salary.

Rookies also enjoyed excellent support from the firm when moving to remote working. One recounts: “We were given two generous grants to purchase equipment, with no requirement for receipts and could keep the excess”.

Great support, fantastic work, an exciting ‘start-up’ atmosphere and exceptional pay make for great reading, but the price for all of this comes in your work/life balance. One hardworking trainee told us: “I get up on Monday and am either working or sleeping until Friday mostly, aside from 20 mins at the end of the day so I’m not dreaming about work”. According to our Survey results, trainees usually start work at around 9am and clock off somewhere between 8pm and 11pm. No wonder the firm advised on 946 IPOs worth $125 billion since 2015, with 225 coming in 2020.

Deadlines

Summer Vacation Scheme 2022

June/July 2022
Applications close 15/01/2022

Training Contract 2024

To commence 2024
Applications close 30/06/2022

Insider Scorecard

A
Training
A
Quality of work
A
Peer support
A
Partner approach-ability
D
Work/life balance
A
Legal tech
A*
Perks
A
Office
A*
WFH
B
Eco-friendliness

Insider Scorecard Grades range from A* to D and are derived from the Legal Cheek Trainee and Junior Lawyer Survey 2021-22 of over 2,000 trainees and junior associates at the leading law firms in the UK.

Money

First year trainee salary Undisclosed
Second year trainee salary Undisclosed
Newly qualified salary £147,000
Profit per equity partner £2,070,000
GDL grant £8,000
LPC grant £10,000

Hours

Average start work time 09:12
Average finish time 21:45
Annual target hours Undisclosed
Annual leave 27 days

Average arrive and leave times are derived from the Legal Cheek Trainee and Junior Lawyer Survey 2021-22 of over 2,000 trainees and junior associates at the leading law firms in the UK.

Secondments

Chances of secondment abroad 0%
Chances of client secondment 0%

Secondment probabilities are derived from the Legal Cheek Trainee and Junior Lawyer Survey 2021-22 of over 2,000 trainees and junior associates at the leading law firms in the UK. Please note that due to COVID-19 secondment probabilities are lower than in usual years.

General Info

Training contracts 14
Latest trainee retention rate 83%
Offices 13
Countries 6
Minimum A-level requirement AAB
Minimum degree requirement 2:1