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Ian Roberts

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How big data can help law firms find the best Solicitors

You can’t avoid hearing about big data these days. It’s everywhere.

I read recently about a company using it to help women find the perfect fitting bra and a website applying it to identify the favourite hangouts for hipsters around the world. Presumably the latter is so that travellers know which areas to avoid when they’re on holiday!

According to IBM, 90% of the data in the world has been created in the past two years. Data analysis is getting bigger day by day and will play an increasing part in our lives in the years to come.

One industry that is on the data bandwagon is recruitment. It even has it’s own buzz phrase for it: ‘people analytics’.

This is all well and good, (apart from the ugly buzz phrase), and I am absolutely in favour of making the recruitment process better for hirers and candidates. There’s a ‘but’ coming and it’s this.

As an article in Wired said: “You can’t just ‘data mine’ your way to the right candidate; you need the right tools to analyse it, and the right people who can provide meaningful insight.” That’s one issue, and I’ll talk more about this in a moment.

Another problem is that although some (though not all) recruitment companies use data to analyse candidates and their suitability for a job, this doesn’t overcome some of the glaring weaknesses of the traditional recruitment model. In fact, you could say that data itself is one of the main causes of these weaknesses.

All recruitment consultants are under pressure to meet data-driven KPIs. These include sending out a certain number of CVs, arranging a target number of interviews, and making a minimum number of calls to hirers and candidates, etc.

So, although much of the data is available to enable recruiters to offer a better service, they’re not using it to do so. One of the familiar gripes we hear from clients about other recruiters is that they waste their time. They present candidates that don’t meet their criteria or candidates who do, but who have no interest in taking the job they’ve been pushed to apply for.

We agree with Wired when it says: “Big data — when used properly — is a good thing for everyone involved. Recruiters can save time, companies will get positions filled by the right candidates more quickly, and candidates will be matched with the jobs of their dreams.”

How then does a recruitment company apply big data and the internet to make the recruitment experience better for hirer and candidate alike?

We believe that NQSolicitors.com is the answer, in particular for law firms recruiting junior lawyers at NQ to 2 PQE.

NQSolicitors.com is a discreet online platform that matches solicitors from NQ to 2 PQE with law firms looking to hire. Candidates create an anonymous profile and upload their CV. Hirers can view these anonymous profiles for free and if they are interested in reviewing a candidate’s CV they can request its release. The CV will only be sent to the hirer if the candidate authorises its release. We think of it like a sophisticated dating site, but for recruitment.

So what are the advantages of this approach?

The main one is that it allows the hirer to be as prescriptive as they wish when running a search, with regard to candidates’ qualifications and experience. These are almost always key factors for law firms when hiring at this level.

When registering with the platform, candidates complete a profile which details their academic record and experience as a trainee, and their work preferences in relation to location, salary, department and the type of firm that they would like to join.

The candidate’s anonymous profile will only be matched with a hirer if the vacancy for which the hirer is recruiting matches the candidate’s work preferences. If say the hirer is only interested in seeing NQ Solicitors who graduated with a first-class degree from an Oxbridge or Russell Group university, or solicitors who gained experience of leveraged finance work while training at a Magic Circle firm, the platform will automatically filter candidates who meet the hirer’s requirements.

By using data to identify candidates who meet the hirer’s requirements, and vice-versa, both parties save time and avoid many of the common recruitment frustrations. The fact that we match mutual requirements is important too. It sets NQSolicitors.com apart from job boards and LinkedIn, where you may find candidates who meet your specific criteria, but where you have no idea whether they are actually interested in what your firm is offering.

Big data has a huge role to play in legal recruitment, of that there is no doubt. The important thing though is how it is applied.

It is free for hirers and candidates to register with NQSolicitors.com. Hirers can run a search free of charge and will only be charged a fee of 12.5% of the candidate’s first year salary should they hire a candidate through the platform. Once a candidate has agreed to release their CV to a hirer, NQSolicitors.com is there to facilitate throughout the hiring process by briefing candidates, arranging interviews and dealing with the flow of feedback.

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Should I move from London to a regional firm as a Newly Qualified Solicitor?

There is life outside London for newly qualified solicitors. Plenty of it, though it may be hard to believe when everything appears to be so London-centric.

Vince Cable said a few years ago that London is like “a giant suction machine draining the life out of the rest of the country”. That may be the case in some industries, but not the legal sector. It’s true about a third of the country’s lawyers are based in the capital (and around 20% in the City) and much of the glittering work is done there. But that still means the vast majority of lawyers work outside it and high-calibre work is being done all over the UK.

There are outstanding lawyers in the regional firms spread around the UK and it is by no means a step down in class to join them. So, if the joys of an hour’s commute next to someone’s armpit and living in an overpriced shoebox are starting to pale, maybe it’s time to get out.

Let’s start with a slight disclaimer. Many firms are not enamoured by being labelled as “regional” and see themselves as offering services and careers on a par with those offered in London. To them, the fact they are based in the regions is a mere coincidence. Bristol’s Burgess Salmon would fall in that category along with Guildford-based Stevens & Bolton and Brabners in the North West. These firms, and others, would point to their Chambers and Legal 500 rankings as evidence of their status, regardless of geography.

When we say regional firms we aren’t just referring to practices with a single office or with a regional head office and a few satellite offices. We are also including the ‘national’ firms with offices across the UK (such as Eversheds, DLA Piper, Irwin Mitchell and DWF, etc.).

Added to the mix in recent years are City firms who have ‘insourced’ into the regions to handle lower value and support work. This practice is spreading, as well as changing. Several City firms now use their regional outposts to augment their City services, meaning more openings for talented lawyers. Hogan Lovells in Birmingham, Allen & Overy and Herbert Smith Freehills in Belfast, and Simmons & Simmons in Bristol are cases in point.

In law, like football, Manchester ranks second behind the capital. Next comes Birmingham, and then, in no particular order Leeds, Bristol, Sheffield, Liverpool and Newcastle. All the UK’s main towns have some sort of legal presence though and excellent firms can be found in each and every one of them.

Let’s list now some of the benefits of moving away from the capital:

1. Better work/life balance

Twelve-hour days and lost weekends can become the norm for striving lawyers at top London firms, or even ones just trying to keep up. It would be nonsense to say lawyers outside the capital don’t work hard but we would suggest that most regional lawyers shut off their computers before 7pm and rarely work whole weekends.

Added to which, your commute is likely to be both shorter and far less stressful.

2. Cheaper housing and cost of living

According to the Nationwide Building Society, the average London house costs £473,073, which is more than double the average price in the rest of the UK (£205,898). Admittedly, that’s an average over the whole country and the main cities in which the best “regional” firms are located will be more expensive.

Even so, living outside London is cheaper, wherever you are. To give just one comparison, according to website Exptistan.com, London is 49% more expensive to live in than Manchester. In other regions, the differential will be greater still. Even taking salary differences into account, you may be better off outside London.

3. Better supervision and greater responsibility

We hear this a lot from NQ Solicitors who have trained outside London. They are given more responsibility at an earlier stage and receive more hands-on supervision than their London counterparts. The main reason mentioned is that deals tend to be smaller and partners are under less constant pressure.

4. Improved working environment

If working in a super-swanky office is your thing, then the City is possibly the place to be. Balance the shiny glass atrium and meeting rooms though with the cramped working environment you’ll often find behind the scenes. Property is much cheaper outside London and often this translates into larger, more spacious offices. Admittedly, these are sometimes on industrial estates or in out of town locations, but many are in beautiful parts of the UK or at least have easy access to them.

Plus, the working environment can often be more relaxed than the highly competitive culture that is often found at the larger firms. There is also a sense outside London of your work playing an important role in the local community.

5. Quality of work

Ah, you say, what about the quality of the work? We can’t pretend the regional firms can compete with the magic circle firms in terms of international work or M&A and banking instructions. Few firms can.

Many regional firms act for multinational businesses though and do work that is every bit as challenging as London firms. And, they have reputations to match. Brabners, for example, is ranked as a leading, top-tier firm across 12 practice areas by the Legal 500. Its clients include Premier League clubs Manchester United and Everton, and the firm is renowned for its expertise in football and sports law.

This is another area where regional firms compete favourably: specialist expertise. If farming and agricultural law is your bag, head to Mills & Reeve. For equestrian law, think about Ashords in the West Country. Expertise in other, sometimes arcane, areas of law can be found in regional firms all over the UK.

If you would like to discuss moving to a regional firm as a Newly Qualified Solicitor, contact us on 020 3709 9165 or email us at info@nqsolicitors.com.

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Is going on a client or international secondment as a Trainee good for your career? And, which is better?

Practically all top-tier law firms offer secondments to entice the best trainees and to provide a more rounded training experience. But how will going on secondment, either to an overseas office or to a client, benefit your legal career? We take a look.

Linklaters is an example of a firm that looks to send all its trainees on either an international or client secondment, and its website boasts that its trainees “can expect a truly international and multi-dimensional experience”.

Are these secondments good for a young lawyer’s career? The big firms clearly think so, but are they right?

Let’s examine each type of secondment in turn.

INTERNATIONAL SECONDMENTS

At the very least, a secondment gives you a chance to experience working in a different environment. This can be invaluable, especially if you have had only limited workplace experience. Doubly so if you are working in a foreign country.

If your training contract is with a firm with a large UK base and outposts around the world, you will probably be working in a much smaller office overseas than the one you have left behind. This offers several advantages.

First, you are likely to get involved in a broader range of work. It is easy to become pigeonholed in a narrow field in the main office, less so in an overseas office where there are simply fewer people to do the work. This can lead to more hands-on responsibility and a closer working relationship with partners and senior lawyers.

It also means you are more likely to see a transaction through from start to finish. This can be a refreshing change. One complaint we often hear from NQs (and firms trying to recruit them) is that their experience has been limited to working on one aspect of a large transaction or case. They haven’t seen the full picture, just detailed close-ups of some of the brushwork.

Additionally, trainee solicitors often experience more client involvement when overseas. This can include pitching for new business, going to more client meetings or attending conferences on behalf of the firm. Opportunities like this, and the tight bonds formed with colleagues in a foreign office, are great for building your network both inside and outside the firm. You will probably get to know seconded trainees in other UK firms in the same location too.

Finally, the more rounded you are as a person the better a lawyer will be. To quote Rudyard Kipling: “And what should they know of England who only England know?”

Having the chance to live in a foreign country, see its culture close-up and how its business world operates can only be a positive experience. Plus, many trainees use their time abroad either during, before or after their secondment to travel and enjoy themselves. Even lawyers are allowed to relax and enjoy themselves!

CLIENT SECONDMENTS

Perhaps the biggest benefit of a client secondment is that you get to see things from the client’s side of the fence. You gain a deeper understanding of the issues clients face day to day and what they require from a lawyer.

In many cases, seconded trainees are expected to advise clients on a host of problems that would be too small to be dealt with by their law firm or are outside the firm’s expertise. There is nowhere to hide and trainee solicitors need to be able to think on their feet and take responsibility. Often, you will come face to face with customers or suppliers of the client and will be expected to manage transactions on you own. And, as you may be the sole legal representative present you will be required to contribute in meetings – without the safety net of a partner.

This can work wonders for your confidence and set you up for qualification, especially if (as is usually the case) your secondment is towards the end of your training contract. (More on this below.)

That’s not to say you won’t get support when needed. In fact, one of the benefits of a client secondment is that you will probably end up dealing with a variety of lawyers in your law firm across a range of departments. So, it can be a great networking opportunity both within the firm, and, of course, with your new colleagues.

WHICH IS BETTER? AND WHEN SHOULD YOU GO ON SECONDMENT?

Both client and international secondments are clearly worthwhile experiences. But which is better? That’s hard to answer, as much will depend on the client, the country, the size of the overseas office, the nature of the work you will be doing, etc.

What we can tell you is that a few leading US firms with a London office have told us that when they are hiring an NQ Solicitor, they want to know if they have been on a client secondment as a trainee. The reason? They expect only the best trainees to be let loose with clients and see this as a good yardstick of a trainee solicitor’s ability and standing within their firm.

Finally, there is much debate among trainees about when you should take your secondment. This is usually in your second year, but which is better your third or fourth seat? Some favour it as the fourth seat. The prevailing wisdom here is that you should try to spend your third seat in the department you want to qualify into. This gives you a full six months to impress whereas if you go in your fourth seat you will only have around two months there before you need to make your NQ application.

On the other hand, some say you need to be in your home office during your fourth seat. This is when you should be ingratiating yourself with the partners and other people who matter in your favoured department. You will also be on hand to do face to face interviews rather than awkward ones over Skype or Face Time.

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Mixed results as firms reveal latest Spring retention rates

In our blog last month, Spring Retention Rates Reflect Brexit Uncertainty, we looked at the early spring retention rates published by some of the larger London firms.

Since then nine more leading firms have released their figures, among them magic circle firms Allen & Overy, Freshfields and Linklaters. Let’s start with these three heavyweights.

Freshfields just edged it with a retention rate of 84% compared to Linklaters’ 83% and Allen & Overy’s 82%. Freshfields offered NQ positions to 31 of its 37 spring qualifiers, all of whom accepted. This is the same number as last spring although it had 38 qualifiers at that time. The NQs will start on a healthy £85,000 a year.

Linklaters had 51 spring qualifiers – the highest number of any UK law firm – of whom 48 applied for NQ positions and 44 will be staying with the firm. They will be on £77,500.

Over at Allen & Overy, 36 out of its 38 spring trainees applied for jobs as NQs with all but five being successful. Its retention rate of 82% is down on last autumn’s 86% and its impressive 91% this time last year.

These results place Linklaters, Allen & Overy and Freshfields comfortably between rivals Slaughter and May (an impeccable 100%) and Clifford Chance (a less than impressive 67%).

Elsewhere, Simmons & Simmons has announced a spring retention rate of 80%, with 12 of its 15 qualifiers taking NQ positions. This represents an impressive bounce-back from its stumble last autumn when it kept just 50% of its 24 qualifiers. But is all as it seems? There have been accusations in the legal press that “several” of its NQs are on fixed-term contracts. Is this a dastardly attempt by the firm to skew the figures? We couldn’t possibly comment (as we don’t know).

But there’s even more to this than meets the eye. Last year, the firm announced a spring retention rate of 78% (seven trainees from nine). Later, there were suggestions (again in the legal press) that it started with 13 trainees. If this is true, and again we don’t know, the true retention rate would have been only 54%.

Silver circle firm Herbert Smith Freehills will be disappointed with the 77% retention rate at its London office because it marks a dent in its impressive recent record. In the past four rounds it has managed to retain more than 90% of its trainee solicitors and this is the first time since 2009 the figure has fallen below 80%. Offers were made to 28 (out of 35) trainees, all but one of whom accepted.

Better news was to be had at fellow silver circle firm Macfarlanes. It proudly claimed a clean sweep, though from a modest six qualifiers. This is an improvement on a more than respectable 85% last autumn from 21 qualifying trainees. This spring’s new crop of NQs will start on £71,000 a year.

Norton Rose Fulbright will be pleased enough with its spring retention rate of 83% though it is a reduction on its 96% this time last year. The 20 qualifiers remaining with the firm (out of 24) are split evenly between male and female trainees and will start on £72,000 a year.

Transatlantic firm Hogan Lovells is keeping 23 out of 29 spring qualifying trainees (79%). This is in line with its performance last autumn when it retained 80% (24 out of 30).

Finally, good news at Osborne Clarke which is keeping all six of its trainees. Three will be based in its London offices, two in Bristol and one in its Thames Valley office (Reading). Last spring, the firm kept on all seven of its qualifiers.

Once again we have a mixed bag, with (not surprisingly) the best results coming from the firms with the smallest intakes. The figures are not consistently good across the board, though, which as we mentioned in Spring Retention Rates Reflect Brexit Uncertainty is probably due to prevailing uncertainty. Lawyers are renowned for their caution and taken as a whole these figures reflect that.

We will be bringing you further updates as more firms announce their retention rates in the coming days and weeks.

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9 tips for choosing the right law firm for your next move

Sometimes even a dream legal job can become a labour of love. A sudden deadline, problems with a witness, a client with a different take on the evidence. But you put your best foot forward and get over the hurdles, whatever they are. After all, it’s a package deal. And all told, it’s a decent package. You take the good with the bad, a bit like a relationship – but with more caffeine.

You want those hurdles and compromises to be as few as possible. So, picking the right firm for your next move is crucial.

The important point to remember is that it’s about who you choose, not who chooses you.

You need to put your ego aside and be honest with yourself. What are your ambitions, how hard are you prepared to work to reach them and where does work rank in the pecking order in your life? You might press all the right buttons at an interview and get the job you think you want, but unless you are true to yourself, the disconnect will show sooner or later. And with that, the turkey that is your career will come flapping home to roost.

So how do you select the right law firm for your next career move? The one that matches the way you want to run your life and progress your career. Here are nine things to think about to help you make sure your prospective new firm is the best one – for you.

1. THE FIRM WON’T CHANGE FOR YOU

For a start, don’t expect any law firm to change to fit in with you and how you want to work. You might be able to persuade them to hire a new PA or get that legal subscription you hanker after, but ultimately they are only going to go so far. To draw an analogy from negligence, you must take the law firm as you find it.

2. EVERY FIRM IS DIFFERENT

Don’t fall into the trap of thinking all firms are pretty much the same. No two law firms are alike. For every paternalistic firm that takes you out on socials and expects you to go home by 7pm, another ten want to own your mind, body and soul. A large oil and gas pipeline deal that must be signed next week, an office full of discovery documents, an enormous bundle dumped on your desk two weeks from trial.

3. DO YOU REALLY ENJOY THE PRESSURE?

You may say you enjoy a high-octane pace fuelled by buckets of Red Bull and relish the 1800+ hours a year required by many City firms. But is this really you? Many solicitors are both attracted and repelled by this degree of pressure. They don’t want to be that hamster puffing away on the legal treadmill, but they savour the salary and sometimes want to reinvent themselves. Our advice: if you are not certain, don’t take the risk.

4. FIND OUT ABOUT TARGETS

If you think you are up for the challenge and your experience as a trainee solicitor proves that you can manage it, you would be well advised to ask the recruiter and the firm everything you can about targets. Also, ask whether fee-earners need to make up time for sick leave, or for attending courses or those all-too-frequent team meetings.

5. LOOK BEYOND SALARY

Salary isn’t everything. Medical insurance and pensions count for a lot, but if you value camaraderie, the atmosphere in the office matters too. Your colleagues can make or break the experience of working under high levels of stress. Social events have their place as well. Speak to other newly qualified solicitors and associates about their experience and raise pointed questions: what time do they usually leave the office, how many weekends have they worked in the past six months, what’s the social life like?

6. WILL YOU BE VALUED?

Being appreciated is important. Will the firm give you recognition: bonuses, bottles of the partners’ Scotch, mentions in firm-wide magazines? What’s the chance of a promotion? And is it real promotion, or is it just a name? Or will you go unappreciated? Ask the questions.

7. ARE THEY FLEXIBLE?

Will the firm allow you to take the occasional holiday which lasts longer than two weeks? What is their approach to compassionate leave? Can you start late some mornings to deal with your children, and sometimes work from home? Is your firm going to be reasonable if you or a close relative becomes ill? Some firms offer an onsite doctor, though most do not. Some will accept a fee-earner who manages difficult clients but has poor attendance because of health issues.

8. WILL YOU GET THE TOOLS?

Does the firm provide the tools for you to do the job? Is the case management system fit for purpose? Is the library up-to-date? Will the firm give you a PA who can actually spell and who doesn’t just leave incomplete work on their desk at 5:30pm sharp?

9. HOW ARE PROBLEMS DEALT WITH?

What are the clients like to deal with? Do the partners actively seek to head-off client problems or do they let them fester? Are you about to join a firm with all the stability and back-stabbing of Ancient Rome? Are grievances dealt with promptly and fairly? Do other members of staff feel they are aboard a slowly sinking ship? You may not wish to pose these questions direct to the firm itself, but we can discuss these, and many other issues, with you. They should be on your mind.

We’re not all destined to be super hamsters nor are we all under-ambitious nine to fivers. Whoever you are, ask yourself if the firm you are going for is really the right fit for you.

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Spring retention rates reflect Brexit uncertainty

So far only six of the larger London firms have published their retention rates for spring 2017, but they make interesting reading.

Slaughter and May tops the list with a 100% retention rate for their 25 spring qualifiers. This is great news for those trainee solicitors and comes as little surprise as Slaughters is a habitually strong performer when it comes to the retention of trainees. This year’s full house compares to 95% last year (38 out of 40 trainees retained) and 88% the year before (37 out of 42). It seems the firm’s policy of taking on slightly fewer trainees has done the trick of boosting their already impressive rates.

This is in stark contrast to Clifford Chance, which is keeping on just 31 of their 46 spring qualifiers. The firm has fewer trainees qualifying this spring than last (46 compared to 54) yet the retention percentage has dropped from 80% to just 67%. This continues a downward trend from the 90% retention rate for spring 2015.

Trowers & Hamlins and White & Case will be pleased to announce high retention rates, both of which represent a small improvement on last spring. Trowers & Hamlins’ 93% compares to 88% last year and 82% the previous year, a positive upward trend. White & Case’s 88% is almost bang on their 87% retention rate for the previous year.

Far less impressive is the news from Berwin Leighton Paisner, which is keeping on just 11 out of their 20 trainee solicitors (55%). This is a decline from the firm’s already poor figure of 70% from last year. It also continues a run of five successive rounds of disappointing retention rates. The firm kept on only 65% of their trainees last autumn.

Mayer Brown is retaining all four of its trainees, vindicating the decision the firm took in July 2014 to dramatically reduce its intake in order to improve its retention rate. However, it would be wrong to draw any conclusions from such a small sample size.

A mixed bag then, and trainees would be forgiven for starting to feel anxious. It is still too early to draw any firm conclusions, but the figures support our impression from speaking to clients that there is Brexit-induced apprehension in the air.

That would certainly explain Clifford Chance’s numbers. Yes, the firm does an awful lot of banking work, so has a right to be more nervous of Brexit than many of its peers. But, if we look back at the global financial crisis we can see that Clifford Chance retained 79% of qualifiers in spring 2010 and 91% in spring 2011. What can we read into this?

It wouldn’t surprise us one bit if several other large firms take a cautious approach and reduce the number of trainee solicitors they retain this spring and, indeed, in the coming autumn. With profits per equity partner (PEP) becoming an increasingly important yardstick these days, law firms move quickly to cut overheads when things slow down and profits threaten to slide. Reducing the number of NQs is seen as a quick fix.

These firms will be confident that if the Brexit effect is not as bad as many fear, they can dip back into the recruitment market and find the junior solicitors they need.

We are in little doubt that the prevailing mood among leading law firms is one of uncertainty. This is one reason why NQsolicitors.com had more than 100 September 2017 qualifiers activate an account within days of commencing our marketing campaign.

NQSolicitors.com Managing Director Ian Roberts says: “While it is too early to make any hard and fast judgements, we would not be surprised if the majority of top 50 law firms report lower retention rates this spring. Certainly, our own numbers would indicate that there are more newly qualified solicitors on the market. Good news for firms looking to pick up new talent, not such great news for trainees.”

With many more announcements due in the days and weeks ahead, we will be keeping a close eye on the numbers. Watch this space for an update in the coming weeks.

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