The Legal Cheek View
High-rolling US firm Willkie Farr & Gallagher, with an illustrious history in America, made a splash in London back in 2019 when it hired private equity big shots David Arnold and Gavin Gordon from Kirkland & Ellis. Since then, the firm has maintained its upward trajectory, with its most recent financials revealing a record $1.78 billion in revenue, a hefty 18% increase on the previous year. The firm’s London office showed particularly strong growth this year with revenue up 22% year-on-year.
A significant uptick in private equity and M&A activity last year contributed to one of the best financial performances in the history of the firm, which boasts particular strengths in private equity, restructuring, finance and insurance transactions. Willkie’s net income rose 23% to $974 million while profit per equity partner (PEP) jumped 17%, now sitting at an eye-watering $4.54 million (£3.38 million). For context, this figure surpasses the earnings of a typical Magic Circle equity partner by over a million pounds. This healthy financial growth has been supported by Willkie’s continued expansion, including the recent addition of offices in Dallas and Munich, which contributed to a 6% increase in overall headcount.
Willkie focuses on cross-border private equity and M&A, litigation, arbitration and corporate crime, international finance, asset management, restructuring, corporate insurance, antitrust and competition, capital markets, financial services, regulatory and tax. The firm’s London competition team was in the headlines recently representing consumer group Which? in a £3 billion claim against Apple, alleging that the tech giant has abused its market position to lock users into its iCloud service at unfair prices. The firm was also one of a number of top US firms to strike a multi-million dollar pro-bono deal with President Trump to avert an executive order targeting its business.
So, what is it like to work at Willkie?
The London office, one of eight offices in Europe with a further eight stateside, is long-established, dating back to the late 1980s. However, there has been an uptick in headcount which has seen the number of Willkie lawyers in London more than double to over 135 in recent years — the fastest growth of any US firm.
Trainees, introduced only a few years ago, have proven valuable, prompting the firm to increase its annual intake to six rookies. NQ rates are at the top end of the market and now sit at an eye-watering £170,000.
Lawyers report that team sizes are small, which gives them an opportunity to gain a broad range of experience, which has the advantage of allowing juniors “to overreach and work on stuff that Magic Circle juniors could only dream of”. This overreach “becomes evident when working across a counterpart on a deal at another firm who is a higher PQE level than you.”
Being thrown in at the deep end can prove daunting however. One trainee expressed a wish for a little more formalised training for juniors, which we’re told is being implemented. Meanwhile, an on-the-job approach to training suits some rookies down to the ground. A colleague reports: “There is plenty of work to take on and you can be as ambitious as you want. In that sense, I like the autonomy of being able to accelerate my pace of training, if I want to.”
The high level of responsibility at Willkie means that junior lawyers frequently find the work very stimulating, with one remarking that they often get involved with “complex investigations and disputes, interesting fact patterns, detailed and sometimes novel legal points”. Client contact is also not unheard of among junior lawyers: “I was really surprised to see that the work I submitted was to be sent directly to a client! The whole team is keen to get you involved as much as possible.”
One insider summarises: “Junior associates and trainees are involved on work streams across the active matters and are expected to engage on all issues from the most simple to the most complex. There is emphasis on learning by doing so even if you are inexperienced you can participate in a wide range of work.” Another reports on sitting in on and assisting with the entirety of an international arbitration hearing within the first three months of a contentious seat, an impressive level of court exposure which is rare among associates, let alone first-seat trainees.
The training comes highly praised by rookies, especially the private equity department, with “a good combination between on-the-job and formal training attended by the whole team, including partners”. Another insider praises the “super interesting” associate skills training and “regular workshops”, although adds that feedback can vary depending on the team member.
One PE aficionado tells us: “Training in my department (private equity) has been carried out with partners present (sometimes presenting) and during which the partners are interactive in giving their thoughts and experience which is invaluable.” Another reaffirms, “the private equity and private M&A training is stellar with partners and senior associates committing time and attention to ensuring juniors and mid-level associates understand key legal and commercial principles”, while a first-year associate rates their training and professional development opportunities as “excellent” with a good balance of “both the legal and practical aspects of practising”.
Given the high remuneration, lawyers can expect to spend plenty of time at their desks. “There are often times when work hours can be pretty heavy,” explains one rookie. Even when workload ramps up in the lean deal/case teams, however, there is a strong sense of “we are in this together”, reports one junior. One rookie described the unpredictable hours: “sometimes you might leave at 6pm, sometimes 11pm, and other times it might be 3am+.” Another lawyer says there “have been a couple of over-nighters in the office, particularly in the manic lead up to Christmas.”
Despite this, the general consensus seems to be that the hours are comparable to other US, City or Magic Circle firms, if not better –– one trainee described the hours as “pretty good for a US firm.” It’s also noteworthy that, unlike most commercial firms, Willkie does not set targets for billable hours. According to one lawyer, “I think this is the best-case work/life balance you can expect for the pay. Seniors make a genuine effort to respect time off and will step in and cover if you need to be absent”. Another expressed similar sentiments, telling us, “Weekend work is rare in most teams and annual leave is respected.”
It’s reassuring, too, when anticipating long days in the office, that survey respondents describe their peers as “super supportive”, “willing to help each other out” and “very close friends”. One junior summarises: “I am overwhelmed by the support and encouragement of my peers at Willkie”. This runs all the way to the top of the firm thanks to Willkie’s strong open-door culture. “Although certain more senior partners are less available than others, there is generally a good partner-approachability in the team and senior associates are always available,” another summarises.
While Mondays and Fridays were previously WFH days, Mondays are now a mandatory office day for all London staff. Helpfully, trainees and juniors have all the kit and support they could possibly need to work from home — as this insider explains: “Everyone at Willkie is offered two monitors, top-of-the-range laptops (which are replaced every few years by IT) and any other requirements to work from home. We also all get Cisco headphones and a headset, which I’ve recently found out to be worth in the hundreds!” And that’s not all –– Willkie’s lawyers are also provided with an iPad pro, along with an Apple pencil and Magic keyboard which lawyers describe as “a great perk which makes it easy to work on the go when needed.”
The firm’s lawyers have an eagle’s eye view of the world, glimpsed through the stylish windows of the CityPoint skyscraper at the edge of London’s Square Mile. The office space is “super swanky” with a social area known as the “Hub” on the 27th floor used for social gatherings and firm events. The office is apparently present in a lot of movies and TV shows set in London; there is often “a shot of the London City skyline where you can see Willkie’s London office in the fancy CityPoint skyscraper”, which one junior lawyer says is “really cool”. The views of the Gherkin, Canary Wharf, St Paul’s, the Barbican and the London Eye no doubt soften potentially long hours spent in meeting rooms. Offices are shared with one other associate, typically until the five years PQE stage.
While the firm does not have a canteen, insiders report that they are given Just Eat credits for lunch on Thursdays and every other Monday and lunch is frequently brought into the office from local restaurants –– this arrangement seems to satisfy lawyers who describe it as “arguably better than a canteen.”
Finally, the perks at Willkie certainly deserve a mention. “Cannot complain about the perks!” one trainee told us –– and with a £500 gym allowance, “great healthcare”, meals past 8pm and taxis home after 9pm, firm events at “very swanky venues”, “an insane summer party every year” and a subsidised ski trip it’s hard to disagree! According to insiders, the “best perk is the all-expenses paid bi-annual European retreat. All the European offices get together for a long weekend somewhere in Europe which is organised by the firm”. There are also monthly informal drinks gatherings, with the plethora of social activities “making it very easy to meet people in the firm and inform [my] decisions of where I would like to spend a seat”. Willkie also has an “excellent discretionary bonus structure”. Caffeine addicts are fully catered for, as one no doubt fast-talking person enthused, with “tons of coffee machines and fridges stocked with free fizzy and other soft drinks”.