US firms overtake UK rivals in trainee popularity rankings

US law firms are challenging the traditional dominance of the Magic Circle in the battle for junior legal talent, with Kirkland, Latham and Paul Weiss emerging as some of the most desirable employers for UK trainees.

Kirkland has taken the top spot in the latest Chambers trainee satisfaction rankings, while Latham is joint third and Paul Weiss joint fifth. Kirkland and Latham were both ranked in the 20s just four years ago, while Paul Weiss only welcomed its first UK trainee class this year.

The findings come from Chambers' annual UK trainee report, which surveyed more than 1,000 trainees at 86 law firms.

The research also found that Magic Circle trainees work longer hours than their US firm counterparts, averaging 53 hours a week compared with 49 hours at US firms, challenging the perception that US firms necessarily demand the longest hours.

The new hierarchy

HSF Kramer ranks second, with Addleshaw Goddard sharing third place with Latham. Bird & Bird and Burges Salmon are joint fifth alongside Paul Weiss.

The factors driving firms' popularity vary considerably. Pay is a major attraction at Kirkland and Paul Weiss, with Kirkland offering trainees £70,000 in their first year and £75,000 in their second, compared with £60,000 and £65,000 at Paul Weiss. HSF Kramer attracts trainees for the strength of its practices and Latham for the quality of work on offer.

Firm culture remains the biggest consideration for trainees choosing an employer, cited by 76% of respondents, followed by reputation and prestige at 70%.

And the financial incentive to join a US firm is growing. Average newly qualified salaries at US firms have reached £168,000, compared with £150,000 at Magic Circle firms.

Less balance

The research also challenges assumptions about working hours at US firms. Magic Circle trainees reported working an average of 53 hours a week, compared with 49 hours at US firms and 39 hours at national firms.

While 70% of trainees said they were happy in their roles, only 44% believed they had a good work-life balance, and just 16% said their workload was predictable.

Despite those pressures, trainees appear increasingly inclined to stay with their employers. Only 14% plan to leave within two years, down from 21% in 2022, while almost two-thirds aspire to become partners.

Gaining ground

Cait Evans, global talent head of research at Chambers, said US firms were disrupting the traditional hierarchy of prestigious legal employers in the UK.

“US firms are disrupting the traditional hierarchy among the most prestigious legal employers in the UK, with some household names slipping down the rankings. Reasons for US firms’ relative attractiveness in the current talent market differ, but certainly pay is an important factor.”

She added that the pay gap between US and Magic Circle firms had been narrowing in recent years but has widened again this year.