Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters, Slaughter and May: an elite group of the most prestigious, multinational law firms in the country informally known as the Magic Circle. Every aspiring solicitor has heard of it, most dream of working there, but only a very select few will ever enter the buildings that hold some of the best lawyers in the world.
We know that working there is a lifestyle you have to dedicate yourself (and especially your time) to and that it is rewarded with the most reputable clients and exciting cases along with perks such as on-site badminton courts and fancy bottles of champagne – but what is it like working there? Trainee solicitors, Emily at Freshfields Bruckhaus Deringer and Vicky Chen at Allen & Overy have given us a glimpse into life at a Magic Circle firm.
A typical day
Emily – “My day varies significantly depending on which of my matters is top of my agenda for that day. I am sat in disputes at the moment, so my day usually involves some legal research and typing a note on findings, maybe some document review, drafting sections in pleadings, drafting correspondence, and attending calls with the Freshfields matter team and the client. In my first seat (general corporate), I did more contract drafting, contractual analysis, due diligence and liaising with other Freshfields offices (and local counsel where required) for international aspects of the deal.
Across most seats, you tend to have one or two calls/meetings a day (either internal with the Freshfields team, or external with a client) where overall progress or team business is discussed. I usually then have a few diversity, pro bono or graduate recruitment things a week to get involved with, so things can get busy!”
Vicky – “Something really common is just reading emails…sometimes you’d even get like 200 emails in a day. As a trainee, you’ll be spending a lot of your time doing deal management work, so it’s really important to keep on top of everything.
I also spend time updating a workstream tracker based on the calls I listen on, revising how different tasks have progressed. It’s actually a nice way of speaking to lots of different people on the team and even gets a lot of client contact – you’re regularly asking them about where things are progressing with them and stuff like that. It does change day-to-day, but you do have an opportunity to get used to things too.”
One of the main advantages of working at a Magic Circle firm is the resources that are offered. As a trainee, you won’t be asked to do any work that doesn’t require the legal knowledge you’ve acquired, which often means you’re more involved in the exciting parts of cases.
Clients
Much of the prestige of working at the Magic Circle comes from the magnitude of the work, which plays a pivotal role in UK business and the world economy. They’re “doing front page of the Financial Times work”.
A standout case for Vicky was an award-winning restructuring deal of Virgin Atlantic.
Vicky – “Given that they have a lot of aircraft leases, maintenance obligations, fees on storage and so on, Virgin Atlantic as an airline was struggling during COVID… I worked for one of the shareholders.
Because Virgin Atlantic and the shareholder have different priorities, we weren’t allowed to say anything to our colleagues about what we were doing, and they couldn’t say anything to us, which was funny because we’re all in the same department in the same law firm.
We were involved in trying to find new money to put into Virgin Atlantic to help it stay afloat until all this craziness ends.
We got a really good result for everyone and it was really interesting to see the different considerations that the stakeholder has compared to the actual company in distress.”
But fee-paying clients aren’t the only focus of these firms.
Emily – “Fee earners of all levels, including trainees, are encouraged to take part in pro bono opportunities. Since joining the firm last year, I have worked on both one-off opportunities and long-running pro bono matters. We don’t have targets as trainees, but pro bono client hours are counted the same as fee-paying clients when considering associate targets.
Also, colleague networks are very active at Freshfields, and everyone is encouraged to get involved whether you are a member of that group or not. I am a committee member for the Associated Women’s Network and the Social Mobility Network, both of which organise a range of internal and external events.”
Why the Magic Circle?
Emily – “When considering my applications in my second year of university, I created a list of priorities showing all the things I wanted from my training contract. These points included best quality training, biggest and most complex deals, a social culture, and Freshfields was top of my list for all of those. I also received a lot of support from Aspiring Solicitors, who helped me distil my priorities and, again, Freshfields came out as a great fit for me.”
Vicky – “Something about such an established training program is that it will give you top-notch training and the resources are incredible. That meant a lot to me because I think it’s so important to get a really good start in your career.
Also, it’s so interesting, and the opportunity to work on these top-of-the-market deals is just really exciting. It makes a big difference – especially when you’re working hard and you have long hours – and makes it worthwhile knowing the bigger context of how this affects the market, industry, and people.”
What has surprised you most about working as a trainee?
Emily – “Probably how much responsibility you are given from day one! Trainees at Freshfields are expected to be competent and proactive – if you are willing to step up, the rest of the team will let you take ownership of tasks and workstreams.”
Advice for aspiring Magic Circle lawyers
Emily – “It’s not as scary as it’s sometimes made out to be! After signing my TC, I remember my tutors at university warning me to expect very long hours of really hard work. Being a trainee can indeed be difficult, but there are some great parts of the job that are overlooked – the work is super interesting, and I’ve met some of my favourite people ever in my intake.”
Vicky – “Really throw yourself into every experience you have and learn from them. Even travelling or your hobbies or whatever it is, if you’re able to, really take away lessons from those experiences. Then if you can translate that into skills and knowledge and show that you can offer something that makes you different from everyone else applying, that will put you in really good stead.”
Ready to take on the challenge?
Magic Circle firms have many similarities, but they are also individual firms with their own cultures, priorities and expertise. So, don’t get blinded by the prestige and make sure you do your research to find the right environment for you.
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