Norton Rose Fulbright

About the firm

In the famous TV show Industry, a group of young ambitious graduates enter the high-pressure world of investment banking, learning the ropes of finance while navigating deals, clients, and office politics. Think of it as the banking world’s equivalent of a training contract. If you’re looking for a touch of that screen-worthy City glamour (without the cutthroat culture), then Norton Rose Fulbright offers a similar immersion in the legal side of finance, and for trainees at the firm, this was a significant motivator. As one insider told us, “I was interested in banking and finance, and that’s a big practice of the firm; it’s a large proportion of what we do,” while another banking enthusiast reported being drawn by the firm’s specific expertise in project finance work.

“I was interested in banking and finance, and that’s a big practice of the firm; it’s a large proportion of what we do...”

Of course, the firm has broader horizons than just finance in the Square Mile. Alongside its top Chambers UK accolades in UK-wide rankings for aviation finance, shipping finance, trade finance, and asset-based lending, the firm also has top-tier teams in energy-related areas such as derivatives & energy trading, mining: international, and power, renewables & alternative energy. Its London office is also complemented by a second UK base in Newcastle upon Tyne, and don’t forget about its 57 offices worldwide. One junior reported “I was looking for firms that had international opportunities and opportunities to move abroad,” which is another area where Norton Rose Fulbright excels. Clearly, at NRF, banking isn’t the only thing you can bank on!

Why trainees joined the firm

Banking and energy focus

These are both big strengths of the firm, and many trainees reported how one or other of these specialisms drew them in. One insider told us, “I typed in ‘top energy firms in London’ and NRF was the first thing to come up” (though we recommend using Chambers UK’s rankings if you want to check this slightly more systematically…).

International reach

Our interviewees emphasised their desire to tackle ambitious cross-border matters, and they got what they were looking for with NRF. “I liked the range of work they did and the international angle” stated one source, with another noting “I wanted something big and international with work I knew would be good and challenging.”

Putting secondments first

We heard of trainees being “drawn to the firm because of their statistics for the number of people who went on secondments,” and more than half of trainees do indeed take advantage of NRF’s “vast array” of postings abroad. A broad spread of UK-based client secondments are also available.

Trainee satisfaction rankings

Training contract structure

Seat allocation

When it comes to seat allocation, trainees fill out a new online form for every rotation stating their top four choices, as well as their supervisor preferences and any notes they want the early careers team to know. They are required to do at least one banking and one corporate seat during their contract, but beyond this, insiders told us that seat allocation entirely depends on demand and the popularity of each seat, with one noting how “as a first year, you’re not a priority.” However, we did hear that “if you don’t get your first choice in your second or third seat, they speak to you beforehand about why and other potential alternatives.”

International secondments

If you’re looking to escape the British weather and experience an international secondment, NRF have lots to choose from. The current options include Paris, Athens, Dubai, Singapore, Perth, Brisbane, Milan, Frankfurt, and Tokyo. Insiders noted that the firm is particularly expanding its offering in Australia.From your second seat onwards, you can apply to up to two secondments per rotation, and it will require a cover letter and CV which is share across the firm’s international offices.

Client secondments

When it comes to client secondments, trainees highlighted how they usually occur across the corporate, banking, and disputes practice areas with the rota of companies changing regularly. Like the international secondments, these are also available across the second to fourth seats, but insiders did note that “client secondments are usually less subscribed to, so if someone flags that they want to do one, it normally can be accommodated.”

Seat Experiences

Trainee life

Culture and environment

Data from our annual trainee survey

“At NRF the facilities are first class” enthused one trainee, adding how “we have prime office space in a great location… there’s everything you need, and it has a good client entertaining space.” Insiders found the environment to be open and welcoming; there’s an open door policy, though one source quipped that “you sit with a partner so there’s no need to open the door anyway.” One trainee did note a downside: “the canteen shuts at five, which is annoying because we get Deliveroo after nine so there is a big gap in between.” So, make sure to pack some snacks if you’re planning on working evenings!

“…I’ve had a positive experience the whole way through.”

As for the general atmosphere, we heard that the typical NRF lawyer is “friendly but also with high standards.” Those standards include valuing “attention to detail” and meeting deadlines, so if long, chatty coffee breaks are your thing then you might have to cut back, as “you can tell that people have targets and that they’re on the clock.” Nonetheless, there are still plenty of opportunities to hang out with colleagues. We heard from one newbie that “amongst my cohort we go for lunch together every day” and the firm puts on a range of team and trainee-level socials to help people get to know one another.Recent examples include a Traitors Live event, but you won’t find anyone backstabbing their co-workers outside that context; “I haven’t encountered anyone who is horrible,” one trainee reassured us, adding “I’ve had a positive experience the whole way through.”

Working patterns

Data from our annual trainee survey

When it comes to requirements for office presence, we heard that “it really does depend on the partner” you’re working for. Although there’s a general policy of spending two days a week in office, that can rise to five days in teams like corporate and disputes, which are described as having a “huge face time culture.” Insofar as it’s possible to generalise, interviewees did note how a lot of teams adopt the 2.2.1 approach, whereby it’s two days in office, two at home, and one when you can choose. Lawyers get a £240 allowance to set up their home working environment.

With regard to regular working hours, we were told how these also massively depend on the department. At the extreme end, one source told us that “this week I’ve done three days where I’ve finished later than 1am, and one day at 10pm,” though they did highlight how “that’s not a normal working week.”

Pay

Data provided by firm and our annual trainee survey

When it comes to compensation, juniors told us how they can see both sides of the coin. One said that the salary doesn’t feel generous “because you’re doing ridiculous hours, but part of the deal is that you’ll learn a lot.” Meanwhile, others felt their salary was fair, highlighting how when other similar firms up their pay, NRF is always close behind, and that “as an industry we are completely overcompensated.”

Supervision and training

“Partners are receptive to trainees; I haven’t had a supervisor that didn’t want to be a supervisor,” one junior reported. Trainees also praised the firm’s focus on trainee progression, noting how “they are really involved in my career development; they get me involved if I show interest, and it’s not empty promises.” One tip: there’s no need to “poke the bear too much by asking them how you’re doing all the time,” as although some supervisors take a slightly more hands-off approach, “you would know if you’re not doing good and they do praise you when you’re doing well.”

As for more general training, when new starters begin their TC, the firm holds an introduction week to train them on technology skills, how to record their time, and general soft skills. At the beginning of each seat, they also receive training designed for that specific area, covering both the knowledge and the resources they will be using. With regard to new tech, insiders noted that they have recently been given access to Harvey and that the training accompanying the firm’s “big push” on AI has been “fantastic.”

Inclusion

The consensus when speaking about inclusion was that the firm “is doing a very good job.” Trainees praised the “really strong” team of EDI officers, noting how “there are always different events happening.” Insiders also pointed out the firm’s ‘Scholars’ programme, which provides funds and career support for socio-economically disadvantaged students interested in becoming lawyers, hailing it as “a brilliant idea for introducing more transparency into the process.” They also valued the firm’s support of the 93% club, its Origins resource group (for people of racialized backgrounds), and its Pride network.

Pro bono & CSR

“It’s such a big deal,” stated one trainee when talking about pro bono at the firm. Trainees are required to take part in the Southwest London Legal Clinic pro bono initiative two times each rotation. Juniors told us how they receive a list of their clients and that “we do everything for that client, such as attendant notes and advice letters,” noting how “we get input from solicitors so we’re not roaming free, but in terms of the clients we are doing the management.” The firm has a dedicated pro bono team who send around weekly emails including all of the opportunities that are available, and trainees also have a supervising partner to oversee the pro bono work they’re doing.

Qualification

We were told how trainees get briefed on the qualification process before it starts, and the firm then releases a list of all the different teams using a traffic light system: red means the team isn’t hiring, yellow suggests the team is open to potentially hiring, and green shows which teams are definitely looking for NQs. When trainees apply for a role, they have to make a formal application involving a written document. The process then varies by team, with some doing informal interviews while others don’t interview at all. Interviewees reported that “you can get a good understanding of the process through partners,” adding how “the firm makes a real effort to retain people.”

Try and try again…

If you think you might need a bit of wiggle room when it comes to mistakes, trainees at NRF told us how “standards are high, but one mistake won’t ruin your training contract.”