Trainee pay and numbers still TBC
US law firm Simpson Thacher & Bartlett is moving ahead with plans to launch a training contract programme in its London office, it has emerged.
The New York-headquartered firm has had a presence in the City since 1978 and has, in recent years, adopted a more informal training model. This has included sponsoring paralegals through the SQE, covering their fees and enabling them to complete their qualifying work experience (QWE).
The move marks a shift towards a more conventional graduate recruitment model and brings Simpson Thacher into line with its elite US rivals across the City.
The news follows the firm’s appointment of Paul Gascoyne as associate director, early careers. He joins from Paul Weiss, where he spearheaded the launch of the US firm’s London training contract programme last year.
Exact details of the new programme remain thin on the ground. Legal Cheek understands that trainee salaries and TC numbers are yet to be finalised. However, given Simpson Thacher’s status as a leading US firm — and with NQs already at the firm reportedly earning north of £178,000 — trainee pay is expected to sit right at the very top of the market. At least initially, only a small number of training contract places are likely to be on offer.
A spokesperson for Simpson Thacher said:
“Following a period of significant growth, the Firm has decided to further invest in the development of talented lawyers by launching an early careers program in London. We’re excited about this important milestone for Simpson Thacher in the UK, and we are looking forward to welcoming our first cohort of trainees in due course.”
The plans come amid the continued expansion of Simpson Thacher’s London office, which now comprises more than 250 lawyers following a sustained hiring spree across private equity, M&A and funds.