A guide to working in West End & niche law firms. taylorroot.com

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1 A guide to working in

2 Introduction Unlike most of our competitors, Taylor Root has a dedicated team focused on the West End and niche firm legal recruitment market. Combined with strong client relationships and an in-depth understanding of the market, we have unrivalled expertise in this area. This brochure is designed to assist you in considering the move into a West End or niche practice. If you have any further questions, please contact one of our specialist consultants. What is a West End/niche firm? There is life outside of the large City firms. Although not always as well known as the City practices, West End and niche firms often have exceptional reputations in their sector. There are many factors that help to distinguish these types of firms from their City counterparts: Culture Size & sector Clients Geography Salary Prospects

3 The Market Typically West End and niche firms follow the same recruitment pattern as the larger City practices, albeit on a smaller scale and with a slight delay. Recruitment freezes were lifted in early 2010, and following a spike of activity towards the middle of last year, there was a brief fall caused by the fear of a double dip in the economy. Since January 2011, recruitment across the board has returned to a steady flow but it is still some way off the pre-recession levels. We do, however, have high expectations for the next months. Culture It is often remarked that West End/niche firms offer a collegiate and supportive working environment. This contrasts with some of the large City practices, where some lawyers feel that staff can sometimes be seen as a commodity in a firm s relentless pursuit of bigger clients and larger profits. One of the key reasons that lawyers tend to be drawn to West End/niche firms is the fact that they typically provide a far better work/life balance than the City practices. Of course, like any law firm, you are still expected to work hard, but there is an unwritten understanding that people also want to try and enjoy life outside the office.

4 Size & sector Clients Traditionally West End/niche firms have been well known for the strength of their Media, Private Client, Commercial and Property practices. However, this is an oversimplification, and our team will often assist with filling roles in sectors as diverse as Corporate, IP, Projects, Family, Criminal, Immigration, Tax, Finance and Employment. Size/focus West End/niche law firms can range in size from small breakaway teams from larger City practices, to full service practices with over two hundred lawyers. Some West End & niche firms strive to provide full service practices to ensure that they can meet all of their clients needs. However, there are also a significant number of smaller practices that have decided to focus on a particular are of strength, often in areas where the City firms tend not to be as strong, such as Media, Family and Private client work. Many of these firms will be undisputed leaders in their field. Niche law firms will often have a more diverse client base than some of the larger City practices. There will be less emphasis on work with large institutions such as banks and pension funds; however, this will be offset by more entrepreneurial clients, high net worth individuals, medium-sized companies and public bodies. Geography While it is true that there is a greater concentration of niche law firms in the West End than other parts of London, they are not exclusively found there. The reality is that they can be found across London, including the City, Mayfair, North London, South London as well as areas such as Liverpool Street, Farringdon and Islington.

5 Salary The general rule of West End/niche firms is that the salaries are lower than City firms. A typical niche firm salary can be anything from 10-25% less than it might be at a Top 20 law firm. Of course, the trade off is often a vastly improved work/life balance. There are, however, several niche firms that are able to offer salaries that compare favourably to Magic and Silver Circle rates as a result of their focus on a particular niche market and client base. PQE West End Niche City NQ 40,000-55,000 45,000-60,000 1 year 44,000-60,000 50,000-65,000 2 years 46,000-65,000 55,000-70,000 3 years 48,000-70,000 65,000-75,000 4 years 50,000-75,000 70,000-80,000 5 years 52,500-77,500 75,000-85,000

6 Prospects Summary Lawyers at West End/niche firms often have enhanced long term career prospects over some of their City counterparts. West End/niche firms will typically have smaller teams, which enable lawyers to gain a large amount of experience at an early stage. This can result in an accelerated career path and earlier promotion to partnership. In addition, lawyers will usually get greater exposure to clients and this will assist them in developing strong long term relationships as well as helping to build up their own practice. This contrasts with City firms where there will be a lot of institutional clients that are effectively embedded within the firm making it extremely difficult for a lawyer to build their own client following. One of the most common reasons that people leave City firms is because they realise that they are unlikely to become partners in their current practices. This is far less of an issue at West End/niche firms. Why move to West End/Niche firm? Work/lifestyle balance Smaller teams Hands-on responsibility Client contact Development Excellent and diverse experience Close client relationships and contacts Fast track to partnership

7 Contact For more information on working at a West End or niche firm please contact a member of our team on +44 (0) Nick Smetana Senior Consultant E: nicksmetana@ Gemma Hamshar Consultant E: gemmahamshar@ Established in the 1980s, Taylor Root is recognised as one of the world s leading legal recruiters. Operating out of offices in the UK, Asia, the Middle East and Australia, we have an enviable client list which includes the top UK and US law firms, niche and West End firms, major investment banks and financial services companies and FTSE250 companies. We have an outstanding record of placing lawyers and other legal professionals from paralegals through to Partner and General Counsel level into permanent and temporary positions in the UK and internationally. Taylor Root is a member of The SR Group. The SR Group is a specialist recruitment consultancy dedicated to raising standards in the business environments that we serve. The sectors we cover include tax, legal, human resources, marketing and executive search, dealing with a substantial number of the world s leading professional partnerships, multi-national corporations and international banking groups as well as small to medium sized developing organisations. London 95 Queen Victoria Street London EC4V 4HN T: +44 (0) Singapore Level 21 Prudential Tower 30 Cecil Street Singapore T: Taylor Root is a member of The SR Group Dubai Suite 614, Liberty House DIFC PO Box T: Melbourne Suite Collins Street Melbourne, VIC 3000 T: +61 (0) Hong Kong 1918 Hutchinson House 10 Harcourt Road, Central, Hong Kong T: Sydney Level 12, 25 Bligh Street Sydney NSW 2000 T: +61 (0)