A guide to working inWest End & niche law firms

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Introduction

Unlike most of our competitors, Taylor Root has a dedicated team focused on the West End and niche firm legal recruitment market. Combined with strong client relationships and an in-depth understanding of the market, we have unrivalled expertise in this area.

This brochure is designed to assist you in considering the move into a West End or niche practice. If you have any further questions, please contact one of our specialist consultants.

What is a West End/niche firm?

There is life outside of the large City firms. Although not always as well known as the City practices, West End and niche firms often have exceptional reputations in their sector. There are many factors that help to distinguish these types of firms from their City counterparts:• Culture• Size&sector• Clients• Geography• Salary• Prospects

West End & niche law firms

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West End & niche law firms

The Market

Typically West End and niche firms follow the same recruitment pattern as the larger City practices, albeit on a smaller scale and with aslightdelay.Recruitmentfreezeswerelifted in early 2010, and following a spike of activity towards the middle of last year, there was a brief fall caused by the fear of a “double dip” in the economy. SinceJanuary2011,recruitmentacrosstheboardhasreturnedtoasteady flow but it is still some way off the pre-recession levels. We do, however, have high expectations for the next 12-18 months.

Culture

It is often remarked that West End/niche firms offer a collegiate and supportive working environment. This contrasts with some of the large City practices, where some lawyers feel that staff can sometimes be seen as a commodity in a firm’s relentless pursuit of bigger clients and larger profits.

One of the key reasons that lawyers tend to be drawn to West End/niche firms is the fact that they typically provide a far better work/life balance than the City practices. Of course, like any law firm, you are still expected to work hard, but there is an unwritten understanding that people also want to try and enjoy life outside the office.

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West End & niche law firms

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Size & sector

Traditionally West End/niche firms have been well knownfor the strength of theirMedia, PrivateClient,Commercial and Property practices. However, this isan oversimplification, and our team will often assist withfillingrolesinsectorsasdiverseasCorporate,IP,Projects,Family,Criminal,Immigration,Tax,FinanceandEmployment.

Size/focus

WestEnd/nichelawfirmscanrangeinsizefromsmallbreakaway teams from larger City practices, to full service practices with over two hundred lawyers.

Some West End & niche firms strive to provide fullservice practices to ensure that they can meet all of theirclients’needs.However,therearealsoasignificantnumber of smaller practices that have decided to focus on a particular are of strength, often in areas where the City firms tend not to be as strong, such as Media, FamilyandPrivateclientwork.Manyofthesefirmswillbe undisputed leaders in their field.

Clients

Niche law firms will often have a more diverse client base than some of the larger City practices. There will be less emphasis on work with large institutions such as banks and pension funds; however, this will be offset by more entrepreneurial clients, high net worth individuals, medium-sizedcompaniesandpublicbodies.

Geography

While it is true that there is a greater concentration of niche law firms in the West End than other parts of London, they are not exclusively found there. The reality is that they can be found across London, including the City,Mayfair,NorthLondon,SouthLondonaswellasareassuchasLiverpoolStreet,FarringdonandIslington.

West End & niche law firms

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Salary

The general rule of West End/niche firms is that the salaries are lower than City firms. A typical niche firm salary can be anything from 10 - 25% less than it might be at a Top 20 law firm. Of course, the trade off is often a vastly improved work/life balance. There are, however, several niche firms that are able to offer salaries that comparefavourablytoMagicandSilverCircleratesasaresultoftheirfocusonaparticularnichemarketandclient base.

PQE West End Niche City

NQ £40,000 - £55,000 £45,000 - £60,000

1 year £44,000 - £60,000 £50,000 - £65,000

2 years £46,000 - £65,000 £55,000 - £70,000

3 years £48,000 - £70,000 £65,000 - £75,000

4 years £50,000 - £75,000 £70,000 - £80,000

5 years £52,500 - £77,500 £75,000 - £85,000

Prospects

Lawyers at West End/niche firms often have enhanced long term career prospects over some of their City counterparts. West End/niche firms will typically have smaller teams, which enable lawyers to gain a large amount of experience at an early stage. This can result in an accelerated career path and earlier promotion to partnership.

In addition, lawyers will usually get greater exposure to clients and this will assist them in developing strong long term relationships as well as helping to build up their own practice. This contrasts with City firms where there will be a lot of institutional clients that are effectively embedded within the firm making it extremely difficult for a lawyer to build their own client following. One of the most common reasons that people leave City firms is because they realise that they are unlikely to become partners in their current practices. This is far less of an issue at West End/niche firms.

Summary

Why move to West End/Niche firm?

• Work/lifestylebalance• Smallerteams• Hands-onresponsibility• Clientcontact• Development• Excellentanddiverseexperience• Closeclientrelationshipsandcontacts• Fasttracktopartnership

West End & niche law firms

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London 95QueenVictoriaStreetLondonEC4V4HNT: +44 (0)20 7415 2828

Dubai Suite614,LibertyHouseDIFCPOBox506739T: +9714 448 7770

Hong Kong 1918HutchinsonHouse10HarcourtRoad,Central,HongKongT: +852 2973 6333

Singapore Level21PrudentialTower30CecilStreetSingapore049712T: +65 6420 0500

Melbourne Suite4.02520CollinsStreetMelbourne, VIC 3000T: +61 (0)3 8610 8400

Sydney Level12,25BlighStreetSydneyNSW2000T: +61 (0)2 9236 9000

TaylorRootisamemberofTheSRGroup

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Contact For more information on working at a West End or niche firm please contact a member of our team on +44 (0)20 7415 2828

Nick SmetanaSenior ConsultantE: nicksmetana@taylorroot.com

Gemma HamsharConsultant E: gemmahamshar@taylorroot.com

Established in the 1980s, Taylor Root is recognised as one of the world’s leading legal recruiters. Operating out of offices in the UK, Asia, the Middle East and Australia, we have an enviable client list which includes the top UK and US law firms, niche and West End firms, major investment banks and financial services companies and FTSE250 companies. We have an outstanding record of placing lawyers and other legal professionals from paralegals through to Partner and General Counsel level into permanent and temporary positions in the UK and internationally.

Taylor Root is a member of The SR Group. The SR Group is a specialist recruitment consultancy dedicated to raising standards in the business environments that we serve. The sectors we cover include tax, legal, human resources, marketing and executive search, dealing with a substantial number of the world’s leading professional partnerships, multi-national corporations and international banking groups as well as small to medium sized developing organisations.