Cooley

Financially, Cooley is also reaching new heights with revenue climbing 1.4% this year to a record $2.03 billion (£1.6 billion). Profit per equity partner grew an even greater 8% to a staggering $3.5 million (£2.7 million) as the firm slimmed down its lawyer headcount by around 100. New CEO Rachel Proffitt credited the firm’s litigation practice for driving counter-cyclical demand “despite the persistent macroeconomic condition”. London also saw change at the top, with capital markets pro Claire Keast-Butler and founding City partner James Maton stepping up after the firm’s former London leadership team left for US competitor Akin Gump earlier this year. Not that this change has affected much financially — the City hub posted an 8% rise in revenues this year to $103 million (£81 million). Other standout hires in the capital include poaching Norton Rose Fulbright’s head of antitrust and competition and Jenner & Block’s global arbitration chair.

So what else might attract a person to this high-rolling firm where the starting salary for a newly qualified lawyer is a megabucks £157,000? Well, the training isn’t bad either. “From day one you have plenty of exposure to high-level work. You receive internal, bespoke training based on the department you are in and those around you are always prepared to provide detailed feedback” one insider revealed.

One bonus of working within the smaller office of a US firm is greater depth of involvement — Cooley often has only one trainee working on a transaction or case whereas other firms might have four or five. As one trainee details, this means there’s “real opportunity to take on responsibilities and work of an associate, but [you are] never left to flounder”. Another concurs, “I have been given many opportunities to work on a variety of matters, and associates and partners are always very willing to explain complex matters to me. My professional growth has really benefited from the firm’s collegiate nature”. It’s no surprise then, that Cooley rookies score the firm highly in terms of how stimulating they find the work they are given.

It takes on four trainees each year. To be considered, applicants must have taken part in the firm’s two-week London summer programme, which accepts up to 10 people each year. The firm has demonstrated its commitment to diversity, reviewing application forms on a name-blind basis as well as offering financial help and work experience in the form of a UK diversity fellowship programme to outstanding students. It also has a range of affinity groups, which support career development and identify opportunities for client and community partnering.

Once on board, trainees usually do two litigious and two transactional seats. The firm is accommodating to trainee interests and preferences and so it is possible to do split seats, for example, combining employment with compensation and benefits. The firm also allows trainees to repeat a seat if they feel drawn to that particular practice area. As far as the work itself goes, rookies tell us that “entrepreneurship is really at the heart of what the firm does. You are trusted to run with things and take ownership allowing you to take on significant responsibility while always being supported.” Exciting clients make for “meaningful and fresh” work and even the more mundane stuff is treated with an air of reverence at Cooley: “Your tasks will vary from more admin tasks such as bundling, to drafting confidential material and attending clients meetings – all of which hold great importance.”

Recent notable work won in London includes the biggest healthcare deal of the year in Horizon Therapeutics $28 billion acquisition of Amgen; a first-of-its kind civil computer fraud case on behalf of Booking.com; and ongoing litigation representation relating to the Grenfell Tower Fire and Tata Steel. The firm also continues a strong track record in pro bono representation, with trainees encouraged to treat their time spent on social security, asylum or immigration matters the same as billable hours.

As you might imagine for a US firm the size of Cooley, inside the doors it’s a “fast-paced intense environment”. Trainees note that the “nature of the job means that mid-week hours can be unpredictable”, although they add that “it is rare that [we] are asked to work on a weekend”. Another rookie reports being “pretty content with [my] work-life balance, despite a “few late nights”, whilst others acknowledge that they “often accept work with the full knowledge that it will eat into my personal time as they are often tasks I very much want to take ownership of.”

While entry to the firm is fiercely competitive, it’s an encouraging place once you’re in. Respondents gave their peers top marks for being “highly supportive”. This praise extends to superiors too, with both associates and partners at the firm described as “so friendly”. There’s also a “great” social life on offer when enough trainees can find the time to band together! Aside from a few felt discrepancies between departments, recruits generally lavished their peers in praise such as this: “my colleagues have been extremely supportive throughout my training contract. People are always very willing to teach me and provide detailed feedback to help me grow professionally.”

Whilst the firm has no hard-and-fast rules on office attendance, the trainees we spoke to seem to be in four-days a week on average, subject to team demands. While one trainee finds Cooley’s WFH provisions “pretty good”, the consensus is that coming into the office facilitates better learning and opportunities, being able to “hear about deals that you might not have been aware of, which gives you a chance to put your hand up and get involved”.

In keeping with its San Francisco roots (it opened its first office there in 1920 and was an early starter in the Silicon Valley gold rush, opening its Palo Alto office in 1980), the firm offers free yoga and bi-weekly mindfulness sessions. What’s more, along with the aforementioned building perks, Cooley is one of the first firms in London to offer fertility related benefits, providing up to £45,000 for treatments. Private medical, season ticket loans and a good pension scheme make up the rest of the basic perk package.