An introduction:
When do you hear of New York’s fabled Wall Street, what image is evoked in your head? Is it that of Jordan Belford, Patrick Bateman, or Gordon Gekko? While those characters certainly represent the horrors of Wall Street, the average lawyer at US titan Weil Gotshal & Manges will certainly be more friendly (and intensely hard-working). With a culture that welcomes those intelligent prospective lawyers all who are willing to handle agonising hours, Weil promises the opportunity to cut your teeth on first-rate deals, with a level of remuneration that can only be described as “absurd”.
The firm’s London office has been open since 1996, representing both the hub for the firm’s European business and its second-largest office. Given its truly remarkable reputation and exit opportunities, Weil represents a wonderful starting point for any self-starting lawyer’s career.
Facts about the firm:
- As of March 2021, global revenue stood at a massive $1.657 billion, with an equally whopping $4.5 million profit per equity partner. Survive long enough to reach the equity, and remuneration stands over that of the average top-flight football player. This pay is truly in the “Champions League”.
- The firm’s international network spans over 15 offices, with roughly a quarter of its lawyers practising outside of its headquarters in the United States.
- As is typical of US firms in London, the firm’s trainee intake is smaller than the majority of its UK rivals’ intakes. The firm doles out a mere 10 training contracts a year. If you’re interested in the firm, there are several open days, as well as first-year and vacation schemes. Two vacation schemes are held per year, with 10 spots up for grabs on each.
- As previously mentioned, pay at Weil is whooping. 1st-year pay stands at £50k, 2nd-year pay stands at £55k, and pay for newly-qualified lawyers stands at an eye-watering £145k. On top of these lofty salaries, impressive bonuses are granted to lawyers. For a lawyer at Weil, the income tax paid over a year could be a few times over the average salary in the United Kingdom. Financial worries should be an item of the past, though your free time will have to be rationed.
- Much like other US firms, deal teams will be lean. This leads to early responsibility (and longer hours) for junior lawyers.
Key practice areas:
Much like other US firms in London, Weil’s work is relatively narrow in comparison to some of its UK rivals. However, in areas where the firm does operate, its strengths are impressive. Seats are offered in departments like:
- Private Equity
- Litigation
- Antitrust
- Funds
- Private Equity Infrastructure
- Restructuring
- Corporate M&A
- Tax
- Structured Finance
- General Banking
Notable recent deals/cases:
- Weil’s London base is advising on the Largest Ever EMEA Technology IPO, Acting on InPost’s Listing on Euronext Amsterdam.
- Weil advised Cobham on the Sale of Cobham Aerospace Connectivity and Cobham Aviation Services UK.
- Weil advised CPP Investments in a consortium that also includes Blackstone and GIC, in, together with Thomson Reuters Corporation, the $27 billion sales of Refinitiv (f/k/a Thomson Reuters’ Financial & Risk business) to London Stock Exchange Group plc.
- Weil is advising Sun European Partners on the acquisition of Sports & Leisure Group, alongside management, in our first deal for new client Sun European Partners. Sports & Leisure is a Belgium-headquartered artificial turf systems provider, and a leader in sustainability led innovation through the continuous development of environmentally friendly artificial grass solutions and its focus on end-of-life recycling.
- Weil is advising on the Restructuring of Dream Cruises
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