PwC

The Legal Cheek View

Having recently integrated PwC’s legal arm into the wider PwC UK business, the ‘Big Four’ accountancy giant offers something a bit different than your typical law firm.

This is most obviously manifested in the training. As one rookie solicitor tells us: “The training programmes at the firm are not for legal trainees only but for most people at the firm, which gives us an advantage over other firms.” Work is as wide ranging as you would expect for such a huge business – at nearly £36 billion PwC’s global revenue dwarfs any law firm (and it has a whopping 743 offices in 157 different countries!). Another insider reports: “I have drafted court documents on large matters largely independently (with appropriate review, of course), and I have also project managed medium-value matters.” Being an accountancy firm, a tax seat is a rite of passage, which can elicit some grumbles.

The amount of legal work that PwC does keeps rising. In the last financial year, revenue rose by a quarter from £48.5 million to £59.9 million, which places the firm’s UK legal arm on a similar level to some of the smaller top 50-100 City law firms. A payscale that sees partners earn between £270,000 to £1.1 million echoes such outfits’ profitability. The signs are that this growth will continue as the major accountancy firms offer more legal services to their clients.

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With an intake of 25 a year, the trainee cohort has the vibe of “a smaller organisation within a larger organisation”. “The trainee community is great … Your intake is your safety net,” one tells us. This has fostered a good social scene, with “great vacation scheme socials which the trainees get to go along to. We also have various team socials and trainee socials throughout the year, including most recently a black tie event at the Natural History Museum and dinner at the Shard.” The senior lawyers, meanwhile, are “very approachable”, thanks in part to the fact that “most senior people at the firm do not have a separate office”.

PWC’s main London office, at the bottom of Embankment on the edge of the West End, is everything you’d expect from a multinational. It lays claim to being the most environmentally friendly building in Europe and “has lots of good break out areas” which “allows you to meet new people and learn a lot through osmosis”. The building features a decent canteen, but there are some complaints over the fact it isn’t subsidised – “The hot breakfast is a bargain though”.

The downside to PwC’s megafirm status is that sometimes its size means that well-meaning initiatives take a while to work smoothly. When it comes to tech, we hear that “PwC looks very sleek from the outside, inside there are some issues”, with “two or three systems in place as the old one is phased out”. There are some particular gripes around the document management system, which is apparently “not intuitive and generally difficult to use”. There’s an expectation, however, that improvements will be bedded in over the course of the year.

Perks are fairly extensive, including unlimited personal use of work iPhones, the ability to buy five extra days of holiday a year and free access to various London galleries and theatre discounts. But the pay is seen as “not amazing”. There aren’t too many grumbles about this, as PwC offers pretty good work/life balance – according to the Legal Cheek Trainee and Junior Lawyer Survey 2017-18, the average arrive and leave the office times are, respectively, 8:48am and 6:50pm. Hours vary between departments, but a flexible working push gives PwC rookies reasonable levels of control over their time.

Another strong point is secondments. According to our data, around a quarter do an international placement or spend time abroad with the firm, while 35% do a client secondment. Popular destinations for the former include Dubai, Dublin and Geneva, while leading banks are the principle destination for the latter.

Deadlines

Summer Vacation Scheme

Applications close 26/01/2018

Training Contract

Applications close 26/01/2018

Insider Scorecard

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

Insider Scorecard Grades range from A* to D and are derived from the Legal Cheek Trainee and Junior Lawyer Survey 2017-18 of over 2,000 trainees and junior associates at the leading law firms in the UK.

Money

First year trainee salary £39,000
Second year trainee salary £44,000
Newly qualified salary £63,000
Profit per equity partner Undisclosed
GDL grant Undisclosed
LPC grant Undisclosed

Future trainees are given £7,000 for the GDL and LPC, plus provided with a “generous living allowance”.

Hours

Average arrival time 8:48am
Average leave time 6:50pm
Annual target hours No targets
Annual leave 25 days

Secondments

Chances of secondment abroad 24%
Chances of client secondment 35%

General Info

Training contracts 25
Latest trainee retention rate n/a
Offices 743
Countries 157
Minimum A-level requirement No minimum
Minimum degree requirement 2:1

Diversity

UK female associates Undisclosed
UK female partners Undisclosed
UK BME associates Undisclosed
UK BME partners Undisclosed

The Firm In Its Own Words