Introduction

"If you are you interested in a career in a big city firm I want to prepare you by helping you see things from their perspective. I also want to show you that this is something you can achieve.

My experience of the legal market

I am currently head of the London office of Orrick Herrington & Sutcliffe and I am principle Partner for Structured Finance.  This is essentially bonds and the more structured end of the market re credit and credit products.  As we have all seen recently, these products are really the drivers of international markets.

Over the last 20 years I have worked in 4 law firms. I qualified at Slaughter & May, and then moved to Wilde Sapte.  I spent 2 years as a banker at Crédit Lyonnais.  Then I joined Jones Day as head of Finance before moving to Orrick as a partner in 2004, becoming London Managing Partner in 2006.

My practice and the clients I act for
Orrick has offices worldwide and 2006 global turnover was $666 million, so this is a huge business.  Our clients are predominantly the big banks and funds."

Law as a Career

"Although you are still practising law, as you progress your career is very much about how you operate in the firm.  As you become more senior, you are still providing a legal service but in the context of a multi-million dollar business, so the nature of the skills you need changes over time.

If you want to take up a career in a large law firm, the firm should ideally reflect the kind of person that you are.  Law firms are all incredibly different in terms of how people relate to each other, the outside world and their clients.  This varies on a scale from relaxed to very strict, so you must think about what kind of environment you would flourish in.  I cannot overestimate the importance of getting the cultural fit right. ‘What are the people like?’ is the most important question to consider. 

Firms develop a culture and people who aspire to their core values will thrive whilst others will do better somewhere else.

At Orrick our core values are:

• Excellence and Integrity - We provide the highest quality of legal service to our clients, while observing the highest standards of integrity and ethics at all times.
• Cooperation and Individual Respect - We work together as a team, interact in a friendly and mutually supportive manner, and treat each other with respect, trust and dignity.
• Enthusiasm and Pursuit of Improvement - We bring enthusiasm, innovation, entrepreneurial zeal, and commitment to advancing the welfare of the firm and our clients. And we always seek to improve the firm as an institution in order to realize our full individual and collective potential. "

Career Structure

• "Trainee – 2 year period pre-qualification.   Training contracts are offered in various different styles, the most common of which is a rotation of 4 areas seats over 2 years, although in some firms you may do a variety of work in 1 department. Ask about this in the interview and do plenty of research beforehand.
• Qualification – Most firms try to retain the majority of trainees.  Training is one of the most significant costs to a firm.  The cultural fit can lead to a mismatch so either the trainee or the firm won’t want to continue.
•  Associate years – Big city firms are now looking at about 8 years post qualification.  Gradually you will get more responsibility in terms of work and other responsibilities, for instance mentoring junior lawyers, pro bono community work, training and business development.
•  Becoming a partner – This is a long process. You will be proposed and then work on a business plan with a mentor or sponsor.  The senior partners of the firm vote at a large meeting to decide if a prospective partner is approved or not.
• Taking on management responsibility - You will be moving from being a service provider to part of the owner of the business so you will need to take on more of a strategic/ directional business role. You need to be able to manage multi dimensional relationships: externally with clients; laterally with other partners; and below, to retain and get the best from your staff. Ultimately success requires self belief, decency, personal skills, drive and commitment."

Characteristics of Professionals and What Law Firms Look For

"A study done about professionals generally produced these findings, but they are equally true for lawyers. These people are:

• Intelligent
• Achievers
• Impatient
• Successful
• Hungry for feedback
• Autonomous
• Want to be involved
• Have overloaded agendas

What Law Firms Look For:

• Depends on the firm � Do your research. What does this firm care about? What comes through on their website?
• Basic requirements � Make sure you satisfy the basic academic and personality features specified.
• How to stand out � Often this is down to being prepared so you can ask and answer relevant questions. If you have researched thoroughly you will appear interested, knowledgeable and intelligent. If you have not done enough preparation you will not do well."

Employment interviews

"The interview process is imperfect. Interviews are the still the dominant method in the hiring process but not the best means of recruiting the right staff.

A depressing finding od research by psychologists and sociologists is that probably the most important element can be who went into the interview before you.  If it was a star you may suffer by comparison, but if it was a hopeless case you will look great.

A lot of firms are trying to counter this one to one subjective impression by holding group events and using questionnaires and written exercises as well as individual interviews.   

From an employer’s perspective interviewers need to be aware of their own biases so they can change the approach.  When first impressions can be so important it is best to try to avoid snap judgements. If an interviewer can sense a bond between them and the candidate this can make the person seem better, but often interviewers think more highly of people like them, when someone else may have something more useful to offer the firm."

Selecting the Firm and Choosing to Stay

"People are motivated by:

• The firm’s reputation
•  The work they expect to do
•  The clients they expect to work with
•  The expectations they have in terms of value and reward

Pay is a very significant factor but only one aspect.  Value is more important. You can be paid highly but not feel listened to or appreciated and so decide to leave, or vice versa.

Staff turnover is unbelievably high in big city law firms.  Each year about 25% of staff change employers.  Imagine the time and expense taken in hiring, training and developing clients that is wasted when people leave. This is hugely significant from a business perspective and firms need to reduce this percentage.

The factors that encourage people to stay at a firm are:

• The development they receive
• The way they are rewarded
• Their opinions count
• The people they work for and with
• The firm culture which values people

People want to see that their career is moving forward and that their pay, responsibility and reputation reflect their work.  A willingness to listen to people at every level is important. Interaction and relationships will make people happier and more productive. Critically people have to fit with the firm’s core values.  

The exceptional people really do their due diligence so spend time before every application, letter, meeting etc.  The more you care, the more it will come through and the more people will notice you."