The Legal Cheek View
“Excellence beyond the City” is Guildford-based Stevens & Bolton niche. Each year, the firm offers around ten trainees the chance to do high-calibre legal work outside of the hustle and bustle of London, alongside around 150 lawyers — many of whom we’re told began their careers at City law firms. With partners making up around a third of this number, rookies can expect high-quality training that rivals that on offer in the capital with “exposure to high quality work and deals” without having to sacrifice work/life balance.
And if you thought this cordiality would come at a financial cost, think again. The firm recorded record revenue growth in its latest financials, with a 20% increase taking its topline to £38.8 million. This figure was grossed-up on an 11 months basis to accommodate for Basic Period Reform but, calculated over 12 months, revenue is still up an impressive 18%. Net profits were also up a whopping 31% to £16.7 million and profit per equity partner (PEP) enjoyed an equally formidable increase of 22% to £360,000. Managing partner James Wadell attributed the success to the firm’s “corporate group” which he called a “standout team”, but was also quick to praise growth in areas such as IP, which is up 20% over the past four years, and real estate which is up 14% in the same amount of time. Increased profits has also spelt success for the firm’s staff, who have been paid out 3% of their salary under the profit share bonus scheme, plus further discretionary bonuses.
S&B puts its financial success down to the cohesion brought about by its single office set-up, paired with its ability to undertake a decent amount of international work. The corporate team, for instance, have just finished securing US private equity investment in Premier League football club Ipswich Town F.C., whilst in banking they’ve been busy advising Rock Rail on financing rail infrastructure in Leipzig, Germany. The firm also counts Japanese multinational Nintendo as a client!
Potential trainees should be ready to get their hands dirty early on because with small cohort sizes comes lots of early responsibility. “The work is more ‘meaty’ not just admin or project management tasks”, one LC insider spills, “we’re often able to do work which would usually be given to associates”. Whilst seats such as corporate are said to have more “less stimulating tasks”, departments like finance restructuring and insolvency are hailed for being particularly interesting. What’s more, the rookies we spoke to were regularly involved in cases involving “complex legal points” and “high net worth or celebrity clients”. Client secondments to companies like Samsung are also available for a few lucky juniors.
The training programme is also said to be “first class” with “plenty of partner interaction and feedback on matters to enable you to learn and develop”. The firm invests in its juniors with “a lot of opportunities for training which relate to wider issues such as D&I, junior development”, according to one LC insider. Another gives this insight: “Each case is worked on by an associate and senior lawyer; this work format enables associates to work closely with different senior lawyers in the team and allows for constant feedback/ opportunities to learn from more senior staff members.”
One junior lawyer praises the firm for holding a talk on imposter syndrome, adding that “they think outside of the box with how to support us to become the best we can be at S&B and to make sure we grow with confidence”.
Despite a few grumbles that some partners are “not always available or approachable”, the general consensus is that “there are always people willing and able to help answer queries”. On the whole, superiors were praised both for their ex-City and Magic Circle expertise, and for being “genuinely interested” trainees’ wellbeing and career development. (One top insider tip is to get involved in different committees, which “encourages you to get to know superiors in other teams also”)!
In fact, “the best thing about Stevens & Bolton is the people”, one junior lawyer told Legal Cheek. “The culture of the firm attracts friendly supportive people and I have had the best support from my peers over my training contract.” You’d be hard-pressed to find anyone at S&B who disagrees as all the trainees we spoke to couldn’t speak highly enough of the firm’s “friendly and collaborative team” and “excellent culture”. “The firm’s greatest asset is its people” fawns one happy camper. On the social side, there’s said to be “always something going on at S&B”. Firmwide socials take place at least twice a year and sporty trainees can look forward to the firm’s summers of cricket and tennis. One sociable rookie claims that they attend firm events “every single week”, whether that’s team drinks, networking opportunities or other business development — “S&B love a party!”.
And with an average finish time of around 6pm, you’ll have time for all these extra-curricular activities and more. Other than the “occasional busy period (as expected)”, rookies are very satisfied with the “excellent work life balance”. The firm is said to “focus on allowing trainees to get their work done and doing what’s needed for the client each day without any set-off with personal life”. A distinct lack of any facetime culture and “flexibility to WFH and from the office (including working half days at each place if needed)” leaves most juniors with nothing but praise for S&Bs working environment. On the odd occasion that you do find yourself working late, trainees report that “everyone is very grateful, and you don’t feel bad for doing it because you want to work with and support the rest of the team.”
Indeed, there are rumours of S&Bs lawyers lingering around after-hours just to admire the newly-refurbed open-plan office space at Wey House. The eco-hub contains libraries, project rooms, phone booths, outside terrace spaces complete with Roman columns, a big communal Town Hall, and around 900 plants (that’s around six plants for every one S&B lawyer!). “The best office I’ve worked at and seen. Other lawyers who visit agree” boasts one proud recruit. In fact, the office is so unique that it has made its way into at least one universities’ architecture course!
The office has also been remodelled to be as environmentally friendly as possible with LED lighting, new energy efficient heating and cooling systems all working alongside the lawyers to improve their carbon footprint. Trainees also report being involved in lots of great sustainability activities, such as litter picking and helping cultivate local fields with the Council, as part of efforts to improve the firm’s environmental impact.
When not in the office, S&B provides its lawyers with “absolutely everything that’s needed” with two screens, a mouse, keyboard, headset and webcam provided before you can even ask. The firm operates a very flexible WFH policy with our insiders reporting that they are expected in-office on average twice a week but there’s no hard and fast rule on this.
Legal tech scores well across the board, with trainees content with how quickly issues and anticipating upgrades such as a new fleet of laptops.
Salaries aren’t quite City levels with rookies taking home £40,000 in their first year, £42,000 in year two and £65,000 at NQ level. But rookies don’t seem to mind given the interesting work coupled with decent work-life balance. Perks include a standard package of private medical and dental insurance, a cycle to work scheme, travel allowance, a retail shopping discount, free mortgage advice, a profit share scheme, the opportunity to buy or sell leave days and free parking and/or a rail travel allowance — which is said to be a blessing in Guildford!