You have come through one of the most challenging parts of your journey to becoming a lawyer – the two-year training contract. Now you can officially update your LinkedIn and change your email signature.
However, qualification is not the finish line. In many ways, it is the beginning of one of the most important stages of your career.
The London legal market has evolved considerably over the last few years. Newly qualified salaries at elite US firms now range from approximately £170,000 to £190,000, while Magic Circle firms are paying around £150,000 to newly qualified lawyers. The gap between the top-paying US firms and their UK counterparts has widened significantly, reflecting the continued competition for talent across the City.
At the same time, the market for junior lawyers is becoming increasingly sophisticated. Law firms are investing more heavily in their own graduate recruitment and training programmes, with firms such as Simpson Thacher recently launching a dedicated London training contract as part of a broader strategy to develop talent internally from the outset.
For newly qualified lawyers, this presents both opportunities and challenges. Salaries may be reaching record levels, but the decisions lawyers make in their first few years post-qualification are becoming increasingly important. Practice area specialisation, quality of training, client exposure and long-term career trajectory often have a far greater impact on future success than a single salary increase or job move.
As a newly qualified lawyer, there can be a temptation to focus solely on the next promotion, the next compensation review or the next opportunity. Yet the most successful lawyers tend to think more strategically. They focus on building strong technical foundations, developing relationships, gaining exposure to high-quality work and positioning themselves for long-term success.
Whether you have secured your ideal NQ role, qualified into a practice area you are unsure about or are considering opportunities elsewhere, the decisions you make during your first few years of qualification can shape the trajectory of your career for years to come.
Here are some answers to the most frequent questions I receive from training lawyers looking to get ahead...
Q – What should I do if I don’t get retained by my firm?
Answer.
You would typically get told in your final seat if you are not going to be retained in the firm you are in. At this point, start talking to a recruiter straight away and do your research into firms that suit your criteria. Be proactive and take advice from your recruiter as they may be able to tell you more about other firms that have not been on your radar. Ideally, you want to be in a strong position to move into a new role at the end of your seat, but don’t get too hung up. Moves are common, and there will be a firm that’s right for you.
Q – What should I do if I get retained in a position I don’t like?
Answer.
First of all, have a conversation internally. Talk to the partner and make it clear that this is not your chosen area. The likelihood is that there is no room elsewhere; however, make sure you raise the question because there could be an opportunity for you. Having this conversation will give you a feel for your next move. If they are unable to provide a solution at this point, start looking for your next role. Do not sit on your hands. Remember that lateral moves are very common and are an option in your first year, but don’t leave it too long. You will face difficult questions by Partners if you leave it longer than a year to move, and this will ultimately put you in a bad position- the possibility of being treated as a NQ for a further year with no career development. Your career should always move forward, don’t waste time.
Q. As a 1PQE, should I focus on a particular line of work or keep a broader perspective?
Answer.
If you have found an area you really enjoy, I would advise looking into firms that specialise in that area but can also provide broader work. You are still at the development stage in your career, so it would be beneficial for you to have a scope of multiple areas. Once you have 3 PQE under your belt, you will know what you enjoy and will have the knowledge and the skills to create a practice that revolves around that work.
Q – Should I be thinking about moving outside of London?
Answer.
I would definitely have it on your radar if it’s something you want to do, but also remember that London in the dominant market, and you are likely to get the largest salary here. With this said, there are some excellent opportunities out there, but this is dependent on your area of work. For instance, if you are interested in Asset Finance, look into Singapore. The Middle East, and Dubai are key areas for Finance, Corporate, Real Estate and Construction. Further afield in Australia, there are some excellent opportunities in Private Equity, Insolvency Disputes, Corporate M&A and Construction.
Moving outside of London for career development would be solely dependent on jurisdiction and work area, but if you are keen to look into it, ask your recruiter. We have a global reach here at Sonder and will be able to use our extensive network and market intelligence to help you make an informed decision.
Q. Would it look bad if I moved from my training contract to a new firm?
Answer.
I often get asked, “will it look jumpy if I move straight after my training contract.” The answer is no. You understand the market, what suits your personality, and you have every right to explore the market. No partner will negatively look at this if your reasoning makes sense – just make sure you communicate your intentions. If it’s simply because of money, partners will also respect that.
Q. What options do I have if I want to move to a US law firm on qualification?
Answer.
Moving to a US law firm on qualification is a realistic option for trainees at global elite and leading international firms in the City. However, the opportunities available will depend heavily on your practice area, training, academics and the type of work you have been exposed to during your training contract.
US firms are generally most active in areas such as Private Equity, M&A, Leveraged Finance, Fund Formation, Capital Markets and Restructuring. They typically look for candidates who have trained at leading UK, US or international firms and have gained exposure to complex, high-value transactions with a strong technical focus. In addition to the quality of work and level of responsibility on offer, US firms are often able to provide significantly higher compensation packages than many of their UK counterparts.
US firms in London are increasingly investing in junior talent. While they have traditionally hired heavily from the Magic Circle and leading international firms, many are now building and investing in their own trainee and junior associate pipelines. That said, they remain on the lookout for exceptional talent at NQ level. Opportunities can be limited and highly competitive, with many mandates entrusted to a small number of recruiters who work closely with these firms and have a strong understanding of their hiring requirements.
Competition for these roles is fierce. US firms are highly selective and often seek candidates with outstanding academics, strong training and experience working on market-leading matters. For those who meet the criteria, qualification can present an excellent opportunity to join a US platform and accelerate their career development.
.png)
