Milbank

Next deadline

Spring Vacation Schemes April 2027 - Leveraged Finance track · 11 Dec 2026

(46 days)

In their own words

Milbank is an elite, international law firm handling high-profile, complex cases and business transactions through 11 offices worldwide.

Snapshot

Firm type

US firm in London

UK offices

London

International offices

New York, Los Angeles, Washington DC, Frankfurt, Munich, Sao Paulo, Hong Kong, Seoul, Singapore, Tokyo

Training contract places

Vacation scheme places

First-year salary

£70,000

Second-year salary

£75,000

Newly qualified salary

£175,000 ($235,000)

Trainee retention

Not disclosed

SQE support

Yes - full funding

Visa sponsorship

Yes

International secondment

Client secondment

Guaranteed secondment

Holiday allowance

23 days

Seat structure

4 six-month seats, or Leveraged Finance Track: 12-18 months in a Leveraged Finance seat, with at least one seat in another area

Recruitment route

Vacation scheme only

Rolling recruitment

Yes

Can trainees repeat seats?

Sometimes, depending on circumstances

Can trainees express seat preferences?

Yes, preferences are taken into account

Salary reviewed

Annually

Non-law applicants

Actively encouraged

Career changer applicants

Actively encouraged

Minimum academic requirements

2.1 in any degree

Pro bono

Formal pro bono programme

Additional leave

Moving day

Billable hour target

No target

Office attendance policy

4 days a week in office

Hybrid working

Standard hybrid only

Wellbeing support

Mental health first aiders, subsidised gym membership, private health insurance

SQE maintenance grant

Yes

PGDL funding

Yes

Retrospective funding

Yes

Before you apply

Before you apply, ask yourself:

Are you prepared to work under pressure and meet deadlines that span different continents?

Is working in a close knit team of experts, where you can learn by seeing the best-in-the-field at work appealing?

Are you comfortable having early responsibility, with exposure to the best large-scale, multi-jurisdictional work?

Next deadline

Spring Vacation Schemes April 2027 - Leveraged Finance track

11 Dec 2026

(46 days)

View job

Deep dive

Explore this firm in detail

What makes it different

Early responsibility, real impact

What this could mean for you

You will need to show resilience and be able to work well under pressure from the moment you join the firm, working with demanding, top-tier clients across time zones. You could end up staying late nights and sacrifice work/life balance in favour of early exposure to deals that may further your career faster.

Exceptional training at every stage

What this could mean for you

You will be supported in your development with extra training programmes, such as the Milbank@Harvard scheme, which takes trainees to Harvard to develop their business acumen and better understand their clients. Your development will be different from other lawyers in the field, potentially giving you a competitive edge over other lawyers of a similar seniority.

Milbank’s strong global network offers trainees and associates the opportunity to foster relationships worldwide

What this could mean for you

Working at Milbank will expose you to a range of cultures and working practices, as you regularly interact with other offices and international clients. You will need to develop strong interpersonal skills and learn to adapt and work cooperatively with different cultures.

Practice area strengths

Leveraged finance

Leveraged finance is a speciality of the firm’s London practice, with some trainees becoming dedicated LevFin specialists, working up to 18 months in the seat and only seeing one other area. This practice most commonly represents traditional banking and direct lending clients, working on some of the most complex deals in the sector.

Project finance

Working in project finance at Milbank means working with a range of client types, from sponsors to acquisition finance experts. With a digital-focus, project finance teams work on an incredible range of deals, from oil and gas to deals that are (literally) out of this world, working with TMT companies to put satellites in space.

Private equity / M&A

Milbank regularly works with the biggest names in private equity, working with the likes of Apollo, KKR and even Blackrock on marquee deals. Joining this practice means getting regular exposure to top clients you cannot find at other firms.

All practice areas

Leveraged financeProject financePrivate equityMergers and acquisitions (M&A)FinanceAntitrustCorporateRestructuring and insolvencyLitigationArbitrationTaxBanking and financeCapital solutionsIslamic financeSecuritisationInternational arbitrationCorporate governanceDerivativesDirect lending and speciality financeSpaceStructured credit and financeTransport

Who it may suit

Before you apply, ask yourself:

Are you prepared to work under pressure and meet deadlines that span different continents?
Is working in a close knit team of experts, where you can learn by seeing the best-in-the-field at work appealing?
Are you comfortable having early responsibility, with exposure to the best large-scale, multi-jurisdictional work?

This firm may suit candidates who...

Are willing to put in the long hours and late nights to work on world-class deals.
Are looking to learn from some of the most experienced lawyers in their fields on a range of deals from energy and contract matters, all the way to space deals.
Are comfortable working in smaller teams and taking on a higher level of responsibility.

Something to consider