Davis Polk & Wardwell

That performance has cemented Davis Polk’s status as one of the world’s most profitable firms, and the growth shows no signs of slowing. In 2026, the firm launched its 11th outpost in Los Angeles, led by Jason Russell, who joined the civil litigation practice after 24 years as a partner at Skadden. Firm chair Neil Barr says the new office will allow Davis Polk to tap into Los Angeles as a “major hub for sponsors and for the entertainment, sports and technology sectors”, while building out a full-service platform in Southern California.

The expansion is not confined to the US, either. In London, the firm has moved into roomier new digs at The Whittington Building by Bank, returning to Frederick’s Place, the site of its first London home back in 1972, as it continues to bulk up in the City. The London team remains small but mighty, with just over 70 lawyers focused on M&A, capital markets, finance, tax, antitrust and financial regulation. It is growing fast, though, and the new base will reportedly accommodate up to 50 more lawyers. The office has also launched a new restructuring practice after hiring Sidley duo Jifree Cader and Mark Knight, while recent lateral hires have bolstered its private equity and leveraged finance firepower.

Unsurprisingly for a firm of this calibre, Davis Polk is no stranger to high-profile clients. Its roster includes titans of the banking and finance world such as Morgan Stanley, J.P. Morgan, Citigroup and Bank of America, alongside corporate powerhouses and household names including Delta Air Lines, Etsy, Ralph Lauren and Elon Musk, the latter on the financing for his acquisition of Twitter, now X. Recent work shows the breadth of the London practice in particular. City lawyers advised on CRH’s $3 billion guaranteed notes offering, with the entire Davis Polk team based in London, and on the corporate side they have worked on headline-making deals including REV Group’s $9 billion merger with Terex and SpaceX’s $75 billion IPO.

Training in London focuses on the corporate and credit practices, but trainees also have the chance to spend time in a more specialised seat such as tax, financial regulation or antitrust. Information from the Legal Cheek Trainee and Junior Lawyer Survey suggests the training is less structured than at many UK firms, in line with the broader US culture where junior lawyers are expected to “learn on the job” rather than be coddled. According to trainees, this is no bad thing: “Time spent doing actual classroom-style formal training is lower than at other firms, but at this stage in my career on-the-job training is much more beneficial and the notable exposure to more senior lawyers adds further value to this,” one spy explains.

It is not just the training that suits the Davis Polk rookies, but the quality of work too. As one mole puts it: “Particularly compared to the work my contemporaries are doing at other firms, the nature of work and responsibility that trainees are given is very stimulating”. Add the “great support/guidance” offered by the partners and senior lawyers, and it clearly makes for a winning combination.

With a trainee intake of just six, it is vital for the cohort to bond quickly. “Our lean team means that it’s important for everyone to get along on a personal level, and work well together”, one trainee explains, while another notes how this becomes a self-fulfilling prophecy: “In such a small firm, personal relationships become even more significant and this contributes to a supportive atmosphere”.

The flip side is that the lack of a wider peer group can make for quite a serious atmosphere, with rookies supportive of one another but firmly focused on their own work. This goes hand in hand with US firm culture, where expectations of trainees match those for other junior lawyers. Even so, the trainees see the upside: it means “regular interaction” with partners, who operate a “truly open-door policy”, according to one. Counsel are described as “very supportive and always willing to answer questions”, and another bonus, insiders say, is that “there is no feeling of hierarchy on transactions”.

You will work hard at Davis Polk, though. Those partner profits don’t come from nowhere! Busy days get busier still once the New York office gets going around 4pm UK time. “You do not make plans for a weekday”, says one insider. A more buoyant rookie strikes a balance: “there are notable peaks and troughs, although this is not atypical for transactional work. The good thing is that when there is a trough you are encouraged to enjoy the rest”.

When it comes to legal tech, the trainees have little to say. The scores here are on the lower side, suggesting that, like many American firms, Davis Polk expects its trainees to do the hard work themselves rather than lean on computers, all in the name of learning. Still, one rookie notes that the “firm works really efficiently” as a whole, a sign that things are just fine aboard the Davis Polk ship, with or without the latest tech.

The new office, at least, looks like a decent upgrade on the last. Davis Polk’s London home sits right in the heart of the City, surrounded by preserved red-brick Georgian buildings, yet inside things are rather more modern: think open-plan layouts, terrazzo-tiled floors, energy-efficient features and private terraces on the upper floors. The all-electric building also has plenty of nearby shops, bars and lunchtime options, handy for those rare moments when trainees manage to escape their desks.

Social life isn’t a major focus, with team dinners about the most juniors can expect. One trainee notes “there are very few social events”, while another adds that post-work drinks are “not really a thing”. As with many US firms in London, the main draw is the eye-watering salary: NQs at Davis Polk pocket an incredible £180,000.

The other major appeal is the chance for every trainee to spend six months of the training contract in Davis Polk’s New York head office or, more recently, in the brand-new home of its European antitrust practice in Brussels. The New York stint is regularly cited as one of the best parts of the TC: “The 6-month seat as a trainee is a fantastic experience. Trainees are properly integrated into a practice group in our NY head office, and get exposure to substantial US law work (while being able to live in and enjoy central Manhattan)”, one enthuses. Students who fantasised about becoming a lawyer after watching Suits, take note!