London COLA Forum

[Neff]

Is it generally assumed that all job postings for US qualified lawyers in London will (1) include a COLA adjustment and (2) provide sponsorship for work permit (even if not referenced explicitly in the post)? For the former, is that just positions at the more elite US or UK firms?

I'm a seventh year corporate associate at a V5 and contemplating making a move. Okay with a slight salary hit due to taxes and expenses, but need at least some COLA adjustment to soften the blow.

[Anonymous User]

Is it generally assumed that all job postings for US qualified lawyers in London will (1) include a COLA adjustment and (2) provide sponsorship for work permit (even if not referenced explicitly in the post)? For the former, is that just positions at the more elite US or UK firms?

I'm a seventh year corporate associate at a V5 and contemplating making a move. Okay with a slight salary hit due to taxes and expenses, but need at least some COLA adjustment to soften the blow.

Junior in London. (2) is certainly a yes, though of course a work visa for the UK is much more straightforward/easier and therefore less of an ask than one for the US. For (1) I think it’s yes if the firm offers COLA. Some like Cleary and Ropes do not offer COLA at all I believe. And some COLA figures are much lower than others.

I’m assuming you are a US citizen/permanent resident and therefore concerned about paying some degree of double tax? Another thing to consider now is that the pound is quite weak against USD, and so if your biglaw firm pays in USD it could get you further here than you would think.

[WilliamFaulkner]

Out of curiosity, why are there London job postings for US qualified lawyers? Are these positions typically corporate positions?

[Anonymous User]

Out of curiosity, why are there London job postings for US qualified lawyers? Are these positions typically corporate positions?

Yes. Generally the positions in London are for U.S. trained associates (typically barred in NY) in capital markets practices. Because of U.S. securities laws and foreign issuers who participate in the U.S. debt and equity markets.

[Anonymous User]

Is it generally assumed that all job postings for US qualified lawyers in London will (1) include a COLA adjustment and (2) provide sponsorship for work permit (even if not referenced explicitly in the post)? For the former, is that just positions at the more elite US or UK firms?

I'm a seventh year corporate associate at a V5 and contemplating making a move. Okay with a slight salary hit due to taxes and expenses, but need at least some COLA adjustment to soften the blow.

If coming from nyc you won’t really be taking a hit as taxes are similar and living expenses are a bit cheaper. COLA is 50-100k USD on top of NYC salary rates so you will be coming out ahead. Most US qualified positions are for cap markets though so not sure how this tracks for corporate associates.

[Anonymous User]

Is it generally assumed that all job postings for US qualified lawyers in London will (1) include a COLA adjustment and (2) provide sponsorship for work permit (even if not referenced explicitly in the post)? For the former, is that just positions at the more elite US or UK firms?

I'm a seventh year corporate associate at a V5 and contemplating making a move. Okay with a slight salary hit due to taxes and expenses, but need at least some COLA adjustment to soften the blow.

If coming from nyc you won’t really be taking a hit as taxes are similar and living expenses are a bit cheaper. COLA is 50-100k USD on top of NYC salary rates so you will be coming out ahead. Most US qualified positions are for cap markets though so not sure how this tracks for corporate associates.

Just so I make sure I'm understanding: if you move to the London office of a firm like Kirkland/Latham/Skadden/Milbank/Weil/Shearman, even after taxes you will be taking home 50k USD more? That's absolutely awesome and something I am going to consider.

[Anonymous User]

Is it generally assumed that all job postings for US qualified lawyers in London will (1) include a COLA adjustment and (2) provide sponsorship for work permit (even if not referenced explicitly in the post)? For the former, is that just positions at the more elite US or UK firms?

I'm a seventh year corporate associate at a V5 and contemplating making a move. Okay with a slight salary hit due to taxes and expenses, but need at least some COLA adjustment to soften the blow.

If coming from nyc you won’t really be taking a hit as taxes are similar and living expenses are a bit cheaper. COLA is 50-100k USD on top of NYC salary rates so you will be coming out ahead. Most US qualified positions are for cap markets though so not sure how this tracks for corporate associates.

Just so I make sure I'm understanding: if you move to the London office of a firm like Kirkland/Latham/Skadden/Milbank/Weil/Shearman, even after taxes you will be taking home 50k USD more? That's absolutely awesome and something I am going to consider.

If you are US qualified and doing capital markets work, yes.

[johndonne]

Somewhere tangential, but are there any opportunities for a JD/US-qualified litigator in London? FCPA? IP disputes? Any firms with a solid group of US litigators in London?

I’m a litigator but would love to move to London eventually.

[Anonymous User]

Somewhere tangential, but are there any opportunities for a JD/US-qualified litigator in London? FCPA? IP disputes? Any firms with a solid group of US litigators in London?

I’m a litigator but would love to move to London eventually.

Also interested in this.

[Anonymous User]

Somewhere tangential, but are there any opportunities for a JD/US-qualified litigator in London? FCPA? IP disputes? Any firms with a solid group of US litigators in London?

I’m a litigator but would love to move to London eventually.

Not really. Could try Quinn, SullCrom, Skadden, Cravath, but it's unlikely.

[The Lsat Airbender]

US-trained lawyer doing litigation in London (or really anywhere outside the US) is, IMO, a unicorn. A few firms have single-digit numbers of attorneys doing investigations/white-collar stuff across the pond; the groups are so small that they generally hire 0 or 1 associates in a given year. Query what never seeing a courtroom might do to your long-term career options.

If you have legit ties to the UK/EU, legit experience in anti-bribery, etc., maybe make some inquiries. If you're already at a firm with a London office doing work you'd be interested in, talk to those people. But these jobs are extremely thin on the ground.

[Anonymous User]

Somewhere tangential, but are there any opportunities for a JD/US-qualified litigator in London? FCPA? IP disputes? Any firms with a solid group of US litigators in London?

I’m a litigator but would love to move to London eventually.

Not really. Could try Quinn, SullCrom, Skadden, Cravath, but it's unlikely.

Can’t speak to the others, but SullCrom London has 0 US litigators (bunch of UK litigators though).

[Anonymous User]

Somewhere tangential, but are there any opportunities for a JD/US-qualified litigator in London? FCPA? IP disputes? Any firms with a solid group of US litigators in London?

I’m a litigator but would love to move to London eventually.

Not really. Could try Quinn, SullCrom, Skadden, Cravath, but it's unlikely.

Can’t speak to the others, but SullCrom London has 0 US litigators (bunch of UK litigators though).

Skadden has a small group of US-qualified investigations and white collar attorneys in London. The London office came to OCI at my law school several years ago and I interviewed with them. My understanding is that it’s a small group and takes maybe 1 associate every few years though.

[Anonymous User]

.

[Anonymous User]

Do you mean capital markets? I don't think there is a particularly good or bad year. The (admittedly limited) demand for this is for both junior and senior associates. Some of the magic circle also have US capital markets teams (paid on Cravath scale).

[Anonymous User]

.

[Anonymous User]

Is it generally assumed that all job postings for US qualified lawyers in London will (1) include a COLA adjustment and (2) provide sponsorship for work permit (even if not referenced explicitly in the post)? For the former, is that just positions at the more elite US or UK firms?

I'm a seventh year corporate associate at a V5 and contemplating making a move. Okay with a slight salary hit due to taxes and expenses, but need at least some COLA adjustment to soften the blow.

Junior in London. (2) is certainly a yes, though of course a work visa for the UK is much more straightforward/easier and therefore less of an ask than one for the US. For (1) I think it’s yes if the firm offers COLA. Some like Cleary and Ropes do not offer COLA at all I believe. And some COLA figures are much lower than others.

I’m assuming you are a US citizen/permanent resident and therefore concerned about paying some degree of double tax? Another thing to consider now is that the pound is quite weak against USD, and so if your biglaw firm pays in USD it could get you further here than you would think.

Sorry but where does one look for these job postings?

[Anonymous User]

Is it generally assumed that all job postings for US qualified lawyers in London will (1) include a COLA adjustment and (2) provide sponsorship for work permit (even if not referenced explicitly in the post)? For the former, is that just positions at the more elite US or UK firms?

I'm a seventh year corporate associate at a V5 and contemplating making a move. Okay with a slight salary hit due to taxes and expenses, but need at least some COLA adjustment to soften the blow.

Junior in London. (2) is certainly a yes, though of course a work visa for the UK is much more straightforward/easier and therefore less of an ask than one for the US. For (1) I think it’s yes if the firm offers COLA. Some like Cleary and Ropes do not offer COLA at all I believe. And some COLA figures are much lower than others.

I’m assuming you are a US citizen/permanent resident and therefore concerned about paying some degree of double tax? Another thing to consider now is that the pound is quite weak against USD, and so if your biglaw firm pays in USD it could get you further here than you would think.

Sorry but where does one look for these job postings?

Just email the US capital markets partners based in London directly. Avoid recruiters.

[Anonymous User]

.

[Anonymous User]

It's one of the better kept secrets in law I feel like that London based US associates make more money than the US based lawyers. I've worked in London quite a bit for exactly this reason and it made it really hard to leave. It also helps that if you get the right firm, your work will be quite a bit less than what your US based counterparts make. I always derived some level of joy hearing how my peers were slaving away and working themselves into burnout whilst I was earning more than them whilst enjoying a relatively good time.

If you're in it for the money and are down to do capital markets, I'd always recommend London, except for maybe income tax free states or other LCOL areas. I'd try to join one of the UK firms over the US firms due the better work-life balance, however, for maximum benefit. From what I know, most of the UK firms are always actively looking but have a hard time getting lawyers (again, most don't know how lucrative these positions are or for some reason think this is a very hard area to crack, which it is not, lot of former colleagues absolutely did not care at all and were allowed to coast for years).

[Anonymous User]

It's one of the better kept secrets in law I feel like that London based US associates make more money than the US based lawyers. I've worked in London quite a bit for exactly this reason and it made it really hard to leave. It also helps that if you get the right firm, your work will be quite a bit less than what your US based counterparts make. I always derived some level of joy hearing how my peers were slaving away and working themselves into burnout whilst I was earning more than them whilst enjoying a relatively good time.

If you're in it for the money and are down to do capital markets, I'd always recommend London, except for maybe income tax free states or other LCOL areas. I'd try to join one of the UK firms over the US firms due the better work-life balance, however, for maximum benefit. From what I know, most of the UK firms are always actively looking but have a hard time getting lawyers (again, most don't know how lucrative these positions are or for some reason think this is a very hard area to crack, which it is not, lot of former colleagues absolutely did not care at all and were allowed to coast for years).

Without trying to say any of this is "wrong" or that I disagree, my years in London were pretty brutal in terms of hours and being on demand, and when I transferred back to one of the firm's offices in the US (at a US-based firm) my workload improved considerably, so YMMV considerably depending on your firm and team. Contrary to my expectations, the tax burden in London was similar to NYC, plus your get the COLA and (in recent years) you get the benefit of a favorable exchange rate, provided you're paid in USD. The extra COLA cash was a meaningful motivator for me, but in the end I'm not really sure it was worth it in terms of cash received in exchange to the disruption in career progression and putting down roots in a city long-term. Just another data point for those considering London.

[Anonymous User]

It's one of the better kept secrets in law I feel like that London based US associates make more money than the US based lawyers. I've worked in London quite a bit for exactly this reason and it made it really hard to leave. It also helps that if you get the right firm, your work will be quite a bit less than what your US based counterparts make. I always derived some level of joy hearing how my peers were slaving away and working themselves into burnout whilst I was earning more than them whilst enjoying a relatively good time.

If you're in it for the money and are down to do capital markets, I'd always recommend London, except for maybe income tax free states or other LCOL areas. I'd try to join one of the UK firms over the US firms due the better work-life balance, however, for maximum benefit. From what I know, most of the UK firms are always actively looking but have a hard time getting lawyers (again, most don't know how lucrative these positions are or for some reason think this is a very hard area to crack, which it is not, lot of former colleagues absolutely did not care at all and were allowed to coast for years).

Without trying to say any of this is "wrong" or that I disagree, my years in London were pretty brutal in terms of hours and being on demand, and when I transferred back to one of the firm's offices in the US (at a US-based firm) my workload improved considerably, so YMMV considerably depending on your firm and team. Contrary to my expectations, the tax burden in London was similar to NYC, plus your get the COLA and (in recent years) you get the benefit of a favorable exchange rate, provided you're paid in USD. The extra COLA cash was a meaningful motivator for me, but in the end I'm not really sure it was worth it in terms of cash received in exchange to the disruption in career progression and putting down roots in a city long-term. Just another data point for those considering London.

Do firms still offer the COLA if you request to move internally to the London office?

[Anonymous User]

Corporate associates in general don’t get paid COLA in London unless you do a mix of cap markets. I know Ropes pays COLA to US cap markets associates. Kirkland only pays COLA to US cap markets associates and not in other corporate fields (funds, M&A etc.). Skadden pays all US associates COLA but their exchange ratio collar is fixed at 1.4 or something so doesn’t translate to great pay in £££ necessarily and they do NOT have a good work life balance due to small teams and staffing issues.

Some Magic Circle firms wit US cap markets practices pay COLA but on top of the UK salary scale (look to Legal Cheek for info). Most cap markets work is high yield work so not always great for transferring back to the US.