Paul Hastings

About the firm

There’s something rather satisfying about cracking open a fortune cookie after a good meal. If Paul Hastings opened one, we’d hazard a guess that the paper inside would unfold to reveal: ‘Ambition grows strongest when watered by action.’ It’s a fortune befitting a firm insiders described as “an ambitious environment that takes a lot of market share and is aggressively expanding.”

“…an ambitious environment that takes a lot of market share and is aggressively expanding.”

It’s a growth story backed by numbers. This financial powerhouse opened its doors in London back in 1997, and today, the office stands on the podium as the joint-second largest office in the firm’s global network. Further, the office is reportedly enjoying record growth, with revenue up by 25%, so much so that it now accounts for almost 10% of the firm’s total revenue.

In addition to being nifty with its finances, the firm also knows a thing or two about financial markets, with Chambers UK placing Paul Hastings in the top band nationwide for its capital markets: CLOs expertise, alongside its capital markets: high-yield products, investment funds (private equity: credit funds) and leveraged finance (big-ticket lenders) know-how.

Why trainees joined the firm

Finance focus

The firm’s finance focus was the main draw for trainees. As one explained, “it’s definitely one of the strongest US firms for its finance practice areas.” At the same time, trainees valued that the firm offers “well-rounded access to corporate seats” too.

Lean teams for hands-on responsibility

The learning opportunities afforded by a leaner trainee cohort was important to interviewees. As one put it, they wanted “more exposure and experiences to progress faster. I didn’t want to feel like a small cog in a big machine,” they added.

Growth prospects of firm

Trainees were drawn to the prospect of joining a firm with growth momentum. “One of the main reasons I applied was because of the firm’s ambition and growth; in recent years, the firm has managed to double its headcount in London,” an insider highlighted.

Trainee satisfaction rankings

Training contract structure

Seat allocation

Trainees jump right into their first seat which is assigned based on business need and any relevant prior experience. For subsequent seats, they meet with the talent management team ahead of each rotation to discuss preferences. It’s worth noting that priority for top choice seats is often given to those further in their training contract.

As a finance-heavy firm, the range of seats available and allocations reflect this focus. “Half of us are in finance seats at any given time,” said a source.

Client secondments

Client secondments are available on an ad hoc basis and are primarily with financial institutions and private credit clients. There are some opportunities available in the litigation space.

Opportunities are typically included in the seat list for each rotation or otherwise arise through partner relationships. “If you push for it and express an interest, there’s a good chance you’ll end up doing it,” one source suggested.

Seat Experiences

Trainee life

Culture and environment

It’s important not to underestimate how much culture shapes your experience at work. “You don’t need to wear suits to the office. You can be smart-casual within bounds – as long as you’re not wearing sandals, you’re all good,” one trainee mused.

This more laid-back air carries through to other aspects of the firm too. “Surprisingly, it’s pretty relaxed!” said a first-year: “It’s normal to have a casual chat with a senior associate in the team or a partner walking by.” As one example, “the other day, a partner spoke to me about the history of cheese and dairy…!” an insider divulged. How brielliant.

That said, as is common with most firms, “There isn’t a way to describe the holistic working culture,” one interviewee noted: “It’s team by team, but those individual groups are friendly.” Pointing to the latest cohort of trainees who studied in the same SQE courses, insiders noted, “They are bringing more camaraderie between the groups, and that will improve as the new teams settle in over the next year or so.”

As for the social calendar, the winter and summer parties are staples each year. Outside of this, firmwide events take place every few months, alongside weekly team lunches and occasional outings. “We still do Chai Wednesdays!” one trainee said. This alternates between floors to encourage people to connect with colleagues they might not usually see. To top it off, there are end-of-month birthday cakes and sweet treats to celebrate people’s birthdays.

Working patterns

Data from our annual trainee survey

Occupying the top three floors of 100 Bishopsgate is the firm’s office. “The views are incredible,” said one trainee: “It’s a great location by Liverpool Street, and it’s relatively modern.” While in-office expectations are team dependent, trainees are generally expected to be in Monday to Thursday, with the option to work from home on Fridays.

As is usually the case with many US firms in the city, the hours can be long and intense. Average finishing times were reported as anywhere between 7 to 9.30pm – and typically towards the later end of that range. During busier periods like deal closings, burning the midnight oil also isn’t unusual. Thankfully though, this occurs “usually, only when necessary.”

Pay

Data provided by firm and our annual trainee survey

For their toils, the firm compensates trainees with a competitive salary, touching the higher end of the trainee pay bracket. As such, the unanimous response among trainees was, “I can’t complain!”

Supervision and training

Data from our annual trainee survey

Upon joining the firm, newbies are paired with a trainee mentor and an associate mentor to help them navigate life at the firm. In practice, learning is very much on-the-job, with trainees typically sitting next to their supervisor in the office. As such, supervision was described by sources as “exceptional and hands-on,” with frequent and informal feedback from across the team, as well as formal feedback during the mid- and end-of-seat reviews. As one trainee explained, “people are happy and open to talking about feedback.”

“They throw you into the deep end with something to hold onto, but it doesn’t feel like you’re in the deep end constantly.”

There is a steep learning curve, and though team specific, trainees are expected to take on responsibility early on. “They throw you into the deep end with something to hold onto, but it doesn’t feel like you’re in the deep end constantly,” a trainee reassured. There is some formal training to support along the way; whilst it varies in frequency from bi-weekly to monthly, practice groups cover topics such as market and legal updates, including updates to contract law, and how to perform certain tasks. Trainees also have monthly sessions which include writing workshops and have the option to sit in on associate level and other US-led training sessions as well.

Pro bono & CSR

There is not a particularly strong emphasis on pro bono or CSR during the training contract, although associates are encouraged to complete at least 100 hours of pro bono per year.

The latest batch of trainees had participated in a Thames litter pick for Earth Day and a charity bake-off.

Other opportunities include:

• London Legal Support clinic

• Assisting charities with corporate matters

Inclusion

Inclusion efforts were described by interviewees as “generally well regarded within the firm.” Though it was noted that representation in the London office could be improved, interviewees pointed out that “the trainee cohort is diverse and inclusive.”

In that regard, sources highlighted a real emphasis on hosting a variety of open days so that future candidates can gain exposure to life at the firm. As part of its Insight Scheme, the firm has also expanded its partnerships with organisations like Luminary Leaders and others to increase access to the legal profession.

Cultural and religious occasions, like Black History Month and Diwali, are marked with fireside chats and events. “During Ramadan, every evening, a dinner was organised to break fast together – including those practicing and those not.” Alongside this, there are also Paul Hastings Affinity Networks (PHANs) open to all to join.

Qualification

Qualification at Paul Hastings is a fairly informal process. Being a smaller cohort, candidates are encouraged to speak with the teams they are interested in qualifying into: “it’s fairly candid in that sense.”

During their fourth seat, trainees formally express to talent management where they would like to qualify. The process might involve an interview, though that is team dependent.

Those going through the process at the time of interview expressed that it felt “slow-moving,” leaving some feeling slightly uncertain. Though the firm does stress it makes the timeline clear. Overall, sources agreed that the firm “likes to retain its trainees.”

Room to flourish…

Trainees have access to a monthly fitness and wellbeing allowance to be used towards a gym membership, yoga, therapy, or anything related: “It’s a broad category!”