Macfarlanes

The Legal Cheek View

Most of the City of London’s mega law firms have offices spanning the globe, but Macfarlanes gets by with just one. And without all those costly overheads, it reaps a profit that is significantly higher than most. Profit per equity (PEP) stands at well over a million, with this year’s figure (£1.29 million) actually down 17% on 2015 when the firm’s PEP topped the one and a half million mark. Meanwhile, newly qualified pay stands at a respectable £71,000.

Magic circle-levels of profitability are matched by the training, for which Macfarlanes scores are among the highest recorded in the Legal Cheek Trainee and Junior Lawyer Survey. First-rate instruction is combined with plentiful seminars from internal and external speakers to deliver a grounding in corporate law matched by few firms. But expect to work hard: “Work/life balance isn’t too bad, but I can't usually make evening plans during the week though as they are almost always disrupted,” one of the firm’s trainees tells us.

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Deadlines

Training Contract

To commence 2019

Applications open: 1 November 2016
Applications close: 31 July 2017

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Key Info

Training contracts 30
Latest trainee retention rate 100%
Offices 1
Countries 1
Minimum A-level requirement No minimum
Minimum degree requirement 2:1

Insider Scorecard

Training
A*
Quality of work
A
Peer support
A
Partner approach-ability
B
Work/life balance
C
Perks
B
Office
C
Canteen
B
Social life
B
Chances of secondment abroad
C

Grades derived from the Legal Cheek Trainee and Junior Lawyer Survey of over 1,500 trainees and junior associates at the leading UK law firms.

Hours

Average arrival time 9:04am
Average leave time 7:59pm
Annual target hours No targets
Annual leave 25 days

Money

First year trainee salary £42,000
Second year trainee salary £46,000
Newly qualified salary £71,000
Profit per equity partner £1,290,000
GDL grant £7,000
LPC grant £7,000

Diversity

UK female associates 52%
UK female partners 16%
UK BME associates 8%
UK BME partners 2%

Universities Current Trainees Attended

The Firm In Its Own Words