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Current State of the London Market
Posted: Sat Jul 17, 2021 12:23 am
by Anonymous User
My girlfriend is a US/UK citizen and dual-qualified attorney. I am currently a junior associate in transactional practice at a top west coast firm. We are exploring a lateral move to London so we can be closer to her family as we enter the next chapter of life.
Does anyone have a pulse on the market for US attorneys in London? Are firms generally busy and in need of bodies? Are COLAs still a thing? I've searched loads, but TLS London threads are generally dated. Thanks in advance for any info.
Re: Current State of the London Market
Posted: Sat Jul 17, 2021 5:26 am
by Anonymous User
I’m a capital markets associate at a US firm in London. There’s lot of good info on here if you search around a bit.
Most of the work here for US qualified attorneys is high-yield debt, though you will likely work on other types of capital markets transactions (IPOs, EMTN programmes, etc.) as well. Check Chambers for the rankings. Most of these firms are hiring and/or willing to review the CV of someone coming from a good firm in the US.
COLAs still exist. Lowest I’ve heard of is $50k at one of the magic circle firms and highest is $100k at Kirkland. Most firms fall somewhere in between.
Re: Current State of the London Market
Posted: Sat Jul 17, 2021 6:10 pm
by Anonymous User
Not OP, but also really interested in this. I appreciate both OP's question and the response.
Question with regard to COLA: do firms tend to have one single COLA figure across the board for all class years, or separate COLA figures depending on seniority?
Re: Current State of the London Market
Posted: Sun Jul 18, 2021 2:56 am
by Anonymous User
Anonymous User wrote: ↑Sat Jul 17, 2021 6:10 pm
Not OP, but also really interested in this. I appreciate both OP's question and the response.
Question with regard to COLA: do firms tend to have one single COLA figure across the board for all class years, or separate COLA figures depending on seniority?
I’m the anon above. COLA is the same across class years but note that it’s usually phased out after a certain number of years, which will vary depending on firm.
Re: Current State of the London Market
Posted: Sun Jul 18, 2021 11:53 am
by Anonymous User
How does this work, is it 100K COLA per annum for a few years or is it 100K spread out over a number of years?
Anonymous User wrote: ↑Sat Jul 17, 2021 5:26 am
I’m a capital markets associate at a US firm in London. There’s lot of good info on here if you search around a bit.
Most of the work here for US qualified attorneys is high-yield debt, though you will likely work on other types of capital markets transactions (IPOs, EMTN programmes, etc.) as well. Check Chambers for the rankings. Most of these firms are hiring and/or willing to review the CV of someone coming from a good firm in the US.
COLAs still exist. Lowest I’ve heard of is $50k at one of the magic circle firms and highest is $100k at Kirkland. Most firms fall somewhere in between.
Re: Current State of the London Market
Posted: Wed Jul 21, 2021 11:18 am
by Anonymous User
OP here - thanks all. Most of the London offices of US firms just have an email drop for applying rather than specific job postings. Is the best way to work with a recruiter? Or apply directly? Or reach out to partners?
Re: Current State of the London Market
Posted: Fri Jul 23, 2021 6:09 pm
by Anonymous User
Junior transactional associate about to move to London, too. Super interested in this topic and would appreciate any info/insight on hours expectation in London, and exit options for US JDs working in big law's London office.