Latham & Watkins

About the firm

Call it the gold standard, call it a deal-making machine: Latham & Watkins gets both labels for a reason. “It’s such a big brand name,” trainees told us. The numbers certainly back that up. The firm rakes in an astonishing $8.3 billion in revenue, making it the second-largest firm in the world, and its deal sheet frequently hits the top charts.

Latham has been on a roll in London. In the past five years, its London partnership has nearly doubled to around 140, while its total London lawyer headcount has reached over 500, making it one of the biggest US transplants in town. Zoom out, and this global firm has 4,000 lawyers in 31 offices. The firm takes on roughly 30 UK-based trainees a year.

For “corporate and finance practices, it’s top of the game,” said one trainee, and our sister guide Chambers UK has the receipts. The firm receives best-in-class rankings for Corporate/M&A: £800 million and above, Private Equity, Capital Markets, Leveraged Finance: Big-ticket Lenders, Restructuring/Insolvency, Energy & Natural Resources: Oil & Gas, Environment & Climate Change, Commercial and Corporate Litigation, Commercial Arbitration and Investor-state Arbitration, Competition Law and Information Technology & Outsourcing.

Why trainees joined the firm

Breadth of practices

“I could be a leveraged finance, corporate, capital markets or a restructuring lawyer, if I wanted,” one trainee said. Indeed, Latham gives newbies a ‘choose-your-own-adventure’-style training contract, where they get a proper run at transactional, contentious and non-contentious work before they pick a practice to apply for on qualification.

Cultural fit

“I was looking for somewhere that, even with long hours, people are nice and support juniors,” one rookie told us. This positive culture was evident from the vacation scheme onwards, with insiders highlighting “how surprisingly relaxed the people are; it’s very friendly.”

Early responsibility

The level of responsibility, and the training that comes with it, was a big draw. “I liked the idea that trainees were given more responsibility,” one trainee said, and another reported that “they treated me like a valuable part of the firm and it provided a great opportunity to learn.” A strong mentorship culture underpins it all.

Trainee satisfaction rankings

Training contract structure

Seat allocation

After completing SQE1, incoming trainees are invited into the firm for monthly sessions introducing them to the different practice areas at Latham.

Trainees must complete at least one core finance and one core corporate seat during their training contract. For each rotation, they rank four seats including any optional preferences. Trainees can flag their reasons for choosing seats in a comment box, including whether they see it as a potential qualification option. This is reviewed by the trainee development team, who “try their best to accommodate everyone.”

Some departments are more competitive than others. Among the most recent trainee groups, the most competitive seats have included competition, entertainment and data, technology and transactions.

Client secondments

There are at least one or two client secondment opportunities up for grabs each rotation. They’re usually with clients in the finance sector, at institutional clients and newer brands.

International secondments

International secondments are also regularly on offer, with recent destinations including Singapore, Hong Kong, and Dubai. Secondees typically handle corporate, capital markets, banking and project finance work while on international secondment.

Seat Experiences

Trainee life

Culture and environment

Data from our annual trainee survey

“I was surprised by how laidback and friendly everyone is considering the work that we do,” one insider told us. Another added that “people work hard and late sometimes but are happy to do that in a collaborative environment. I’ve never asked for help and it not be received well.”

Latham is a big firm internationally and in London, so the culture naturally varies from team to team, but the overall impression from sources was that it offers a good level of support to junior lawyers that permeates across all levels. “I’ve noticed that, across teams, juniors and mid-levels are very willing to help as they’ve been in your position,” said one interviewee. “It makes up a big part of the learning experience.”

There is also a monthly mentoring budget for spending time with someone else at least two class years apart. We heard this could be used for grabbing coffee, lunches out, even getting your nails done, apparently! Add in the regular opportunities to get together, from informal lunches to team socials including retreats and annual ski trips, on top of that. Trainees have a quarterly social budget to put to good use as well.

Working patterns

Data from our annual trainee survey

It’s always best to be upfront: the hours can be demanding. On average, “I get in around 9.30am and if it’s a good day leave around 7.30pm,” said one trainee, with a general expectation to be responsive later into the evening as well. “If it’s busy, the hours can be unpredictable,” sources agreed, reporting that they were often “working late until about 11pm or sometimes, if it’s really urgent, the early hours of the morning,” such as for a filing or transaction deadline. This doesn’t go unnoticed, though, as “people recognise when you’re working hard.”

Trainees are expected in the office four days a week. At the time we interviewed Latham’s trainees, everyone was prepping for the move from Bishopsgate to Leadenhall Market, which was described as “prime real estate” for its proximity to clients as well as its upgraded amenities like the improved canteen, as well as the wellness and gym spaces. “We’re going to get a barista and juice bar,” reported one interviewee, adding: “I hope they have ginger shots!”

Pay

Trainees are paid a highly competitive salary in the City. “It would be insane to complain,” one quipped. On qualification, salaries jump to the eyewatering rates US firms are known for.

Supervision and training

Tailored trainee training happens at the start of a seat and continues throughout, alongside wider department-level sessions. “There is no shortage of training,” trainees said, though they added that “the best training is on-the-job.”

While it can be busy, rookies are still getting the reps in with regular training. “Ultimately, it’s helpful as it gives you a strong overview of the departments that you’re in,” an associate shared, adding that “it can be tough, but I wouldn’t be the NQ I am today without having gone through that (although I have a long way to go).” Supervision was seen as hitting the right mark, as regular feedback from supervisors and others in the team means “you learn about different working styles and ways of operating.”

Inclusion

“We have a lot of affinity groups! They’re good for fostering mentorship, it’s a big part of the firm,” one source said. These groups reflect various backgrounds, identities and common interests, including first-generation professionals. Each group has a dedicated mentorship budget. Each group hosts its own events that anyone can attend, from socials to informative occasions with speakers, which have included some very, very big names such as Dolly Alderton, Jo Malone and Mo Farah (“the room was full!”). Cultural occasions are marked throughout the year also. “They put a lot of effort into those events,” insiders praised.

“The most important thing is seeing minorities in senior positions, and that is definitely the case in my team,” said one interviewee, adding: “It’s pretty diverse – there is a significant number of junior female partners, a couple of whom have had babies. So, it’s obviously hard work, but you can see that it’s manageable.”

Pro bono & CSR

“One thing that stands out is the commitment to pro bono – it’s huge,” said one source. Trainees and associates are expected to hit at least 20 hours of pro bono work per year, but many do much more. “You can sense it from the top down; you can see a lot of senior management at the firm doing pro bono,” said a source. “It’s taken seriously; it’s not a throwaway thing.” A newly qualified lawyer reported that “we don’t have an upper limit on how many pro bono hours you can do, which is incredible and reflective of the firm’s ethos.” The opportunities include short-term commitments, such as local legal clinics, as well as longer-term projects.

Other opportunities include:

• Helping out charities with compliance training

• DARA (domestic abuse risk assessment) assisting with non-molestation orders

• Amicus

Qualification

The qualification process kicks off as trainees start their fourth and final seat. The trainee development team holds a panel to walk them through the process, and the job list is released afterwards. By this point, most trainees have already started feeling things out with the teams they want to qualify into: “People are having those conversations way before the list is out,” shared one NQ, “you’re not blindsided.” Candidates can apply for up to two positions by providing a written application expressing their interest. There are no interviews.

Ready, steady… go!

The firm has an application prep platform to lend a helpful hand.