Why US law firms are quietly stocking up on mid-level associates

For years, the focus of US law firm growth in London has been on headline partner hires and market-topping NQ salaries. But according to one of the City’s top recruiters, the real action has now shifted elsewhere.

"Since 2023, a lot of the demand has really started to push more to the third-year to eighth-year level," says Ria Karnik, who leads the associate recruitment team in London at Major, Lindsey & Africa.

Speaking on The Non-Billable Podcast, Karnik explains that the hiring pattern reflects a change in how US firms are building their London offices. With partner moves over the past two years triggering knock-on hiring further down the ladder, firms are now focused on adding depth at that level.

"What it indicates is that we’re now seeing US firms almost taking that model that you would typically see in a Magic Circle or a Silver Circle firm," she says. "The teams are becoming more established."

That shift is also changing the long-held perception of US firms as operating a strictly "up or out" model. "It’s not just an up or out culture," Karnik says. "You need to know that you’ve got people that are on the progression path."

From star hires to team depth

The demand is being driven by familiar practice areas - leveraged finance, private credit and private equity remain core - but Karnik says US firms are increasingly investing beyond their traditional transactional pillars. "We’re seeing investment in areas like tax or competition," she says, alongside "really strong TMT teams" and growing litigation practices.

The knock-on effects are being felt across the market. US firms’ relentless hiring has contributed to salary bunching at many UK firms, which have raised NQ pay sharply but failed to keep pace at mid-level.

Karnik says that leads to frustration among the associates she talks to. "I’ve heard instances of NQs earning just £30,000 less than sixth-year associates," she says. "That’s extremely frustrating when you’re expected to do BD, mentor juniors and take on a lot more responsibility alongside the technical part of your role."

Pay transparency as a differentiator

By contrast, US firms’ transparency around salary bands and bonuses - with many following the Cravath scale - is a major advantage. "You know roughly what you’re going to get paid this year, next year and the year after," she says. "That transparency has worked so well for US firms."

For associates considering a move, her advice is to understand what you actually want to change. "You don’t just move for the sake of it," she says. "Interviewing is exhausting."

And for firms hoping to compete? "Know your own value proposition," Karnik says. "And be vocal about it."

Listen to our full conversation with Ria on The Non-Billable Podcast.