Personalised Practice: How High-Street Firms Differ from Corporate Giants

Jan 12, 2024

Written By Paddy Carey

Britain’s legal landscape is diverse and dynamic, so, if you want a stint in the profession, there are many questions to consider. Do I want to be a solicitor or barrister? Which specialities interest me? Would I prefer working an arm’s reach from a high-street Subway or in some plain-glassed city monolith? It’s important to make the right decisions and choose a career path that aligns with both your professional and personal goals. So, in this article, we’ll explore how high-street firms differ from corporate giants.

Location and size

The immediate distinction between high-street firms and corporate giants is location. Whether in the bustling streets of Manchester, or in a market-town in the midlands, you will find high-street firms on the high-street (as their name suggests!)

Corporate giants tend to set-up shop in the financial districts of major cities, like London and Birmingham. For example, Herbert Smith Freehills has its London headquarters at the heart of the city, right next to Liverpool Street Station.

Clients and services

This difference in location is also reflected in their respective client-bases. High street firms mostly serve the everyday needs of locals and small businesses, specialising in areas like family, criminal and property law. Many have direct access, meaning you can walk in off the street for an appointment.

Corporate giants often have a more global presence, serving national and international businesses. Given the centrality of English Common Law in international commerce, it’s not uncommon for large UK firms to provide legal counsel for companies around the world.

And the larger scope of their clients is reflected in the type, profile, and complexity of the work these firms do. Corporate giants usually specialise in thorny areas of law like mergers and acquisitions, international arbitration, and finance disputes. Headline-earning work is not uncommon.

Work environment and career progression

High-street firms come in all shapes and sizes, ranging from lone-wolf mavericks to dozens of collaborating lawyers, and they’re usually familial in nature. Furthermore, many high-street firms actively nurture connections within the local community, preferring to hire locally to maintain a sense of community cohesion.

The smaller size of high-street firms can also lend itself to faster career progression and opportunities to take on significant responsibilities early on. However, unlike at a corporate giant, completing your training contract at a high-street firm doesn’t always guarantee a job afterwards. Many smaller firms simply don’t have enough space to keep on all their trainees.

On the other hand, corporate giants can be just that – giant. Collaborating alongside a diverse range of professionals from different backgrounds is common in these giant firms. Take Allen & Overy, which has almost 6,000 staff across the globe. You might have a call with the Parisian office in the morning, a meeting with the Hong Kong team in the afternoon, before finishing up with a client based in the US.

However, these firms are often very structured and hierarchical, with a more formalised work culture and career progression. Indeed, it’s difficult to keep things familiar with large intakes of trainees – Clifford Chance takes in over 100 trainees per year.

Training

Corporate giants also tend towards formalised and structured training programmes. Your two-year qualifying work experience is usually split into four six-month “seats” in different practice areas. Given the corporate nature of their work, many will set compulsory finance seats.

Depending on the firm, you may also see the opportunity for client-secondments (working as an in-house lawyer for one of the firm’s clients) or international secondments (a spell abroad in one of the firm’s sunnier offices).

High-street firms often have a less rigid training style and greater freedom than their corporate cousins. Many opt for the classic 4x6 month seat rota, but others may choose an 8x3 month or 6x4 month depending on their expertise and personal preferences. You may also find you have much more freedom with which seats you can pick.

The give and take: remuneration and late hours

There is no hiding behind the fact that a highly attractive aspect of working for corporate giants is the salary: Newly Qualified (NQ) salaries at big London firms can easily begin at the >£95,000 mark. Add benefits packages that can include health insurance and wellness packages, season tickets, and comprehensive retirement plans, and you have a recipe for success.

The high-street package is usually more down to earth. Salaries remain competitive - with NQ salaries usually in the £30,000-£45,000 range – and there may be profit-sharing and local community involvement programmes. Significantly, high-street firms usually boast better work-life balances with weekends kept sacred.

Clifford Chance’s slogan “We are late hours” exemplifies the reality of corporate work: complex, high-profile, and cross-border work for international clients in different time-zones brings with it longer hours and weekend working. Although some firms do have better work-life balance than others, 12-hour days are not uncommon.

Over to you

There are substantial differences between practising law on the high street and within corporate environments. Between location, culture, remuneration, and more, it’s important to reflect on which factors align most with your personal preferences and professional aspirations. Some may find unravelling complex and high-profile cases greatly rewarding, the late-nights and long hours necessary evils of working at a global firm. Others may find it more satisfying to grow roots in their local communities and thrive off helping others.

The best idea is to take proactive steps to explore both options before committing to a decision. Reach out to lawyers on LinkedIn, attend AllAboutLaw events, and find internships to gain first-hand experience. Good luck!

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