McDermott's trainee intake doubles after Schulte merger

McDermott has doubled the size of its London trainee intake after taking on Schulte Roth & Zabel’s legacy trainees in the wake of the firms' merger.

The move takes this year's cohort from three to six and marks a notable step up for a London office that has been in growth mode, with revenue expected to reach $120 million this year. Another six trainees are due to join next year, with numbers for 2027 still to be decided.

Trainees on top pay

The expansion comes less than a year after McDermott made headlines by hiking London trainee salaries to £65,000 in year one and £70,000 in year two - joining Davis Polk at the top of the market for trainee pay (Milbank and Sullivan & Cromwell have since joined them).

The firm also pays newly qualified lawyers on the Cravath scale ($225,000, converted into pounds), putting it among the best-paying firms in the City for new lawyers.

London co-managing partner Aymen Mahmoud said the enlarged intake reflects the firm’s ambition for its City office and hinted at further expansion in the future: "As the London office grows, so will our intake. We are deeply ambitious about the trajectory of this office, and we want our trainee programme to reflect that growth."

He added: "We’re proud to be investing in the profession’s future and excited by the momentum we’re building."

London plans

McDermott’s merger with Schulte created McDermott Will & Schulte, a 1,750-lawyer outfit with revenues of around $2.8 billion and more than 20 offices worldwide. Schulte’s London practice was known for its hedge fund and private capital expertise, giving the combined office of more than 100 lawyers extra heft in one of the City’s most competitive markets.

The firm is set to relocate its London headquarters to Mayfair in 2028, anchoring itself in the heart of the capital’s private capital district.