What I REALLY Do In a Day as a Corporate Lawyer in London - Tasks, Hours & Salaries
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- čas přidán 14. 12. 2022
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The realities of life as a corporate lawyer (sorry to break it to you) aren’t exactly what you watch in Suits, Partner Track or The Good Wife - late nights, yes, but copyroom hanky-panky and brainstorming over whisky are definitely less common than 2am trawls through documents looking for a problematic clause or Deliveroo at my desk waiting for a contract to be signed 🖋️… So, in this video, I am breaking down what corporate lawyers actually do 👨💼
I run through the day-to-day tasks, areas of corporate law, and how law firms run.
Starting my life as a trainee lawyer, I really had very little idea what the role of a corporate lawyer was (other than looking as sharp as Harvey or Rachel). I also didn’t appreciate how many different teams there were within a law firm, and how these teams all mesh together to help companies with different types of deals and legal issues 🤯
I’ve now worked at a magic circle corporate law firm for over two years, so wanted to run through (in plain English) the basics of what I wish I had known going into this career. So, hopefully once you’ve watched this video, your understanding of corporate law will go a little further than mine did as a student trying to work out what to do with my life (i.e., corporate law = suave suits, battles for power and a fair few dollar bills) 👌
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About Me
I'm a lawyer, part-time CZcamsr, son, brother, startup founder, fiancé, black coffee drinker and plant dad. I graduated from Cambridge University (where I studied French and Spanish), topped my law school class and now work for a corporate law firm in London as a solicitor (which takes up a lot of my time)!
Around that, I'm a big fan of discovering new ways of thinking, of balancing work with life, and of performing to the very best of my ability. Ohh, and being happy. And I try to share all that on this CZcams channel 😀
Fun fact: I believe we massively overplay the role of “natural talent” 😮 AND… I also believe that TOGETHER, WE ARE ALL CAPABLE OF POSITIVITY, PRODUCTIVITY AND SUCCESS.
📸 Instagram - / liam.porritt
🌍 My little kingdom - liamporritt.com
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Disclaimer:
Information, views and opinions depicted in this video are my own. Information visible on screens or in documents does not relate to my work as a lawyer for clients.
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as a current law student, this is such a helpful video to understand what the profession looks like. no coffee chat or networking event has ever been so informative. thank you!
This guy should give presentations at careers fairs and websites
Right, he's so positive for starters....which is refreshing especially in law 👀
My friend brother worked in London for Goldman.Remember watching the 6 nations final and half way through he has to go back into the office, was gone for 4 hours or so. Meet him at a wedding 6 Years later. Waited 5yrs at Goldman, was burnt, glad he done it, done his CV wonders. But said he would never go back. Looked for office hours at a much smaller firm and actually has a life. But it’s nice to see the mechanics of your industry
Hi, Liam! Just wanted to let you know that I got the trainee contract of my dreams in the biggest law firm in Brazil (and Latin America) largely because of your videos! Thanks for being such a guidance and an inspiration throughout my Law journey. Your videos were both a great method to keep myself inspired to continue studying and a great distraction in my moments of time off. So yeah, thought it might be nice for you to know how impacful your work as a CZcamsr really is. Bye! :)
congratulations 🎉
which firm do you got in?
My girlfriend is a corporate M&A solicitor but won’t tell me a lick of anything that happens cause ya know confidentiality so I found this super interesting! Also she nodded the whole way. Especially at keeping the client happy despite sleep needs
Lol how do u have a relation if she always at work...
@billcaan4192 how do you type without a brain
This is genuinely the best law summary I've ever seen
Tremendous video Liam, keep them going ! They really help to motivate me to pursuit a career in London !!
Very well explained, Liam. For me, when I worked as a specialist in IP, at an IP specialist firm, I very rarely looked outside of my area, so much of what you spoke about was quite foreign to me, but I've definitely found this video insightful. And for me personally, it's a good reminder that when advising start-ups on IP protection and commercialisation (which is where my work lies predominantly) it's important to look at the bigger picture too, and refer them to other lawyers as necessary.
This really is a great video. I am a software engineer in new york city and to see the difference in both the cities is amazing! Keep them coming!
This is so useful - for those who haven’t finished the LPC/SQE the firms’ focus more on pitching their “culture” and “diversity” but half of the students don’t actually know what they are applying for or understand much beyond that. More videos are needed about practice sectors. Thank you :)
wHAT A liar. His salary is not 125k which he says on another video WTF not even partners earn that much hahhaaa another fake youtuber
@@ninawoods5985 I disagree when you research what a practicing lawyer at CC earns plus bonus :/
@@KP_City_Life what do you mean research lol I work in law
@@ninawoods5985 then you know better then lol
Such a great informative video. Kudos Liam. You're truly an inspiration 💕
Your videos are amazing, thank you for sharing. We really appreciate your transparency and honesty.
I work as a lawyer in the public sector but thinking of changing areas for various reasons. Your enthusiam is very refreshing and your content useful. All the best
Such an insightful video! I'd love to see a more in-depth video of building a career in M&A specifically. Perhaps some early-career tips, helpful books/podcasts, pros & cons of the field, potential challenges & general mindset and lifestyle tips to get ahead in the field. Thanks for the content!
Good to see one of these videos again rather than all the over saturated productivity stuff. Enjoyed this a lot.
Amazing Video , the video concepts are getting better and better.
Big up Middlesbrough! I'm starting my Law degree this year and I really enjoy your videos. They offer a great insight into the career, thanks Liam!
Oh my god haha I left a comment last video about wanting more videos about being a corporate lawyer, and so today when I saw this video on my subscriptions I was so happy 😂😂 Been a subscriber for a while now and love your videos Liam, thank you for this! 🎉🙂
Thank you so much for making this video! It was super informative and easy to follow.
This video is so well done, very informative
Super informative, also thank you for making your gdl notes available for free !
Awesome mate - financially a genuine in the day of rather than breakfast, walks, lunch, side computer views, wind downs etc. great work
That was so clear and easy to understand! Thank you!
Thanks. You are a natural. You've made it easy for me to understand the detail behind a corporate transaction
Nice summary, congrats 🙌🏽
Enlightening video, Liam! I would add that lawyers increasingly have “commercial sense”, hence experienced lawyers may advise clients on business risks which are worth taking too, as opposed to simply presenting the risks to clients for them to decide.
I’m not sure on this one. From what I’ve experienced this would be viewed as a liability issue and all advice would be strictly off the record. If you are giving investment advice you need pre-approval from national regulators to do so which law firms would not have.
As a CEng I would argue the collective IQ and common sense of a legal team is less than that of a fitters workshop.
@@mememachine5244 ridiculous comment.
@@katie8325 Found the year 1 law student
Quite a nice explanation about what corporate law firms do.
Love seeing these from lawyers around the world!
Very well done. Unusually I have never had a billing target even when at one of the UK's best known firms (as that particular firm does not have them), although now I work for myself if I don't bill enough we starve so there is always a billing target in that sense.... Day to date in terms of what someone is doing for me it is writing (when not on client calls). So it will be writing an email/letter of advice and giving the client the answer to is legal question or amending a Sale and Purchase Agreement or other document. So if I had to have one phrase for what I do all day it is giving legal advice/drafting.
The fact he chuckled when he talked about a company laying people off tells you everything you need to know about him/corporate lawyers
THIS WAS SO HELPFUL THANK YOU SO MUCH
This is so informative! Its so interesting seeing how all the practice areas work together
What an excellent video Liam! p.s The video editing has also reached new heights
Very very very well explained!
This is ao useful for me. Next year i have to decide what carreer I'll study and i want to be sure i know what im choosing before actually choosing it
Excellent video!
So good video. Is impressive to see how you van manage to work as a corporate lawyer and at the sime time be able to make this quality content.
Personally I feel represented by your words. I don,t work any more for a big law firm, but as a startup lawyer I do very similar tasks with my clients. Si true what you said about the strong demand from the client in the middle of a “closing”
I’m a legal recruiter in London and absolutely love this video!!
Very insightful video! Keep up the great content :))
Love the Pittsburgh skyline intro!
So helpful! Thank you!
The accuracy!!
So helpful!
Hi Liam. Just wondering what some practical tips were that you applied to learn all of this stuff as quickly as possible - 6 months doesn’t seem very long!
That was really good. Thank you.
Great vid! Will you be talking about salaries in the next video?
Interesting. I’m a physiotherapy starting law in September. I am interested in Clinical Negligence and Ethics, but love business so may go down corporate law route. Criminal law fascinates me also, but maybe the thought and reality of criminal law may be two different things. I am definitely not going into the degree not knowing what law is all about. I have experience of medical, business, finance and drafting for businesses.
Love this video- Corporate is pulling me.
MAY GOD BLESS YOU! THANK YOU FOR THIS!!!!!🙏🏽🤲🏾❤️❤️❤️
Hi Liam, amazing video! My question is: How many people usually work on a case and is it true that the newer you are to the firm the more you work- partners don't work as much? Also how much time do you need to work at a firm to become an associate and later a partner (is your goal to become a partner?) A follow-up question: where do you see yourself in 10 years? Thanks for the educational video.
Terrific video - I am a Senior Corporate Paralegal and this high-level overview was great to watch!!! I have worked in large and mid-sized firms and I know you are going to do very well in your career…
Awesome video, obviously talking about Lidl lol😂
Great video. Also is that Ella Mai - trip as background music? Where did you get that version, it’s so relaxing
Excelent Video. congratulations.
So well explained, and helps me as I'm working in corporate finance.
How do you get these videos done? Do you outsource all the infographics work etc?
Hi Liam, I am an inspiring corporate lawyer, just wanted to ask if you have content available on how you approach legal research, especially if it’s like a topic you know little to nothing about, and how it differs from the legal research you would for a college assignment? Kind regards
I’m a consultant we literally put a standard 7 hours a day for whatever client we work on, even if we actually do 19 hours.
Hi Liam, I really appreciate your hard work that between all of your works you can find a time for making the videos like this, thanks for that , I am a first year international law student in master degree and interested in corporate law, what would u recommend to me to start to improve my skills on this area ?
Very cool video
Do us another desk setup video
Hi great video Liam! I d like to ask; if a client ask you to do something but it’s not possible, do you become honest and tell them it’s not possible or try to partially fulfil their objectives ?
I am an older lawyer and I often tell clients I cannot do things - almost every week for a start I am rejecting work as it is not something within my area or the client might want me to word something in a way that breaches professional conduct rules and my duty as an office of the senior courts (which all solicitors are) and I always say no. If you mean on timing - sometimes it is not possible to do things as quickly as they want, but usually solicitors try to do things within realistic timescales.
7:52 -- I did not think of Tesco
What did you use to create your graphics? I wish my professor uses the same sort of ppt.
Loved the video Liam! Question for you is what happens when you client (the biscuit business) gets hit with a law suit? Who deals with that?
Litigation Dept.
What made you go corporate over criminal etc? Is it better overall? I'm at uni currently, and want to hopefully be an Attorney in the US, eventhough im from the UK.
Such a great video! I have a question for your Q&A - As a corporate lawyer would you ever spend time in a courtroom/directly arguing against opposition??
If you were on the litigation team potentially
Not as a corporate lawyer in the UK
Wow, 1800 is pretty good for a international firm. In the US, there are small regional firms (less than 75 lawyers) who want you to bill 1800. That is definitely on the mid to lower end in the US.
That is roughly 7 to 7.5 hours per day. I have heard of partners billing more hours than there are in a day, mostly duplicating an associate's time. One fiction novel about a big Sydney commercial law firm based on a real story has a partner who bills so many hours he is known as The Time Lord (as in the UK science fiction series Dr Who)!
So interesting
First of all thank you this is such informing and easily understandable video!!!
Second, I'll graduate almost after 4 month on Economics degree and i want to be corporate lawyer in the long run, So how can i make it happen? I mean do i have to study the whole LLB for 5 years or can i simply and precisely join corporate law because that's the area I'm interested in?
What are your thoughts on the clients inhouse-lawyers you might have to deal with?
Hi Liam, question for the Q&A. During your degree, does it matter where you get degree from in terms of employability?
Seconded!
Quite a few firms recruit "institution blind" so although the firm may not go on visits to institutions where people have low A level grades, as long as you have very high grades and pass all the tests with high scores and have high marks on all modules on your degree,you are certainly in with a chance.
I could never be a lawyer! It's such a complex world and the hours are crazier than I would want to even imagine. Glad I do contracting. I effectively work 6 months of the year and that's already too much!😂
Great insights thanks for sharing! What an amazing world that corporate law seems to be.
Government contracting?
@@manuelmanuel3968 a mix of both. I try and avoid government work as it's frustrating, but sometimes it aligns itself perfectly.
@@lehoff ok. Off the top of your head. If any; What is the current business challenges your facing?
@@manuelmanuel3968 in public sector, budgets and alignment of outcomes (i.e. many targets and goals all competing against one another, and lack of alignment between gov departments, duplication of efforts).
Private, translation of effort to value. People still look at whole life cost rather than whole life value. And showing the outcomes as delivering greater value than the investment is hard. ROI is the name of the game but not always that easy when doing consulting as some of the outcomes take a while to materialise.
The bgm sounds really calming. What is it?
for you hack "trade unions act". led that to netherlands labour industrial court .😮😮😮😮😮😮😮
Do you see yourself staying within law long-term? Is equity partner the goal? Or do you have exit ideas in mind?
He probably can’t discuss this online without jeopardising his current job
how much travel is there in corporate law
Hi Liam, do you think it is possible to work as german lawyer (with german law education) in the UK or do you think the different legal systems wouldn’t allow that?
If you have Reddit you can go on r/uklaw and ask this, they usually give good advice. I think if you studied German law you would still need to do the LPC/SQE which is the course that actually qualifies one to practise law in the UK. You would also need a training contract, which is hard to get (it’s two years long and you sit a certain amount of ‘seats’ where you work in the different areas of law that the firm you are in covers).
You may, however, want to consider applying for vacation schemes in the UK if you are living here or are able to work here. They are usually over the summer time and sometimes the firm will offer the candidates a training contract. The larger firms will even pay for you to do the LPC/SQE and even a GDL should you need it (graduate law degree, for those who don’t have a qualifying law degree. Not sure if your degree would be qualifying, but if you are doing the SQE it may not matter).
UK law is super competitive! And very oversubscribed! However you may have something that firms want, so never say never! Good luck!
Such an informative video! Thank you
Hi liam, just started working as a paralegal in a projects team (mainly mining and energy). Wondered if you had any tips for strong drafting - not something i'm used to from law school
Could you provide me with material to study corporate law?
11:05 oh no think big clients still need to respect work life balance idk
Really great overviee 🥰
Liam , your asome
Hey i am a company serectary in india and planning to do LLB i had a question, i want to be a corporate lawyer so for that do i need to take a bar council license or can i be a corporte advisor without getting bar council license meaning in m&a do i need to appear before courts
since over there is a rule if i take bar council license i have to give up my company secretary license
You are the Harvey Specter of UK
Bro speaking fax
Hahahahaha exactly😂😂😂😂
Hi Liam, I’m a current Bcom law student and intend to do 2 years of LLB. Could this take me into the Corporate Law sector which is my dream and why I have started this path.
I've got a question
Why everyone quits corporate law???
Hi I'm wanting to study law would really appreciate knowing what a levels I should take
hi, i'm no liam porritt but i am a first year uni law student and i would say there are no a levels you 'should' or 'must' take in order to study law. every course i applied to had no required a levels. please study what you enjoy and don't let anyone (even liam porritt!) tell you what to study - you know what you're best at, and what you find most interesting, and that is the most important thing when studying a levels, especially if the course you intend to study at uni has no required subjects. i hope this helps :)
Did you need to study finance master after llm?
I couldn't find where in the video he covered salaries?
How do people become partner?
you have a perfect life... good grades, good career, in relationship, have a youtube business, etc..
I wouldn’t call working until 2am a perfect life
Still doesn't make sense how time is assumed to be standardized like that. As though you put the same amount of labour in at any minute. As though getting stuck on a simple problem is worth more to the client than cruising on a difficult task.
Heyy! Are you a solicitor? 🤔
So me, a UK resident. If i register a startup company in the US (Florida) and I start to make very good revenue. But my company operates and is maintained in the UK. But the company does not have a branch in the UK. Does the company pay taxes to the UK?
Not at all. You just need to submit with the tax authority your tax receipt that you paid in the country where your company is registered and doing business
What A levels/gcse's do you suggest or did you do? if you don'y mind sharing, what kind of grades did you need in them to get to where you are now?
For law GCSE choices don't matter, just try to do well.
For A levels choose at least one essay subject.
Subject choice doesn't matter that much, just make sure it's not media studies or similar. Mostly just focus on getting good grades. You ideally want to be getting all top grades for both A levels and GCSEs.
Mine were English literature, History and German (A levels). GCSEs (in my case I am so old I did O levels which GCSEs replaced) I did English lit, English lang, maths, history, geography, French, German, two sciences and music. It can help to have things like English lit. and history as law involves a lot of writing, but it is not essential and some lawyers might even have A levels like physics, chemistry and maths. For the better firms the starting point is usually at least AAB grades at A level as a threshold for the best firms.
If you’re in the UK, what A-levels or GCSEs you do, do not matter. You do not even need to study Law at uni, as there are other routes of qualification. Firms like seeing passion; what are you doing to showcase this? Have you done any vacation schemes? Feel free to even reach out to a law firm and see if you can intern to help out.
The one other thing I would say is, make sure you really know what being a lawyer entails. Often people think life is super glamorous and base expectations on popular tv shows, but that is not always the case.
Corporate law firms are lucky to have clients with bottomless pockets.
is the answer, not much ? yeah.
I work in PE and deal with a lot of corporate lawyers. Smart people, fun, hard working and generally good with people.
They do all sorts .... if I were more patient I'd have been a good lawyer.
They are very much part of driving the business world. They often drive deals and do as much as either party if not more. They are the people that get things across the line.
Whats the most accurate legal series or movie out there? I'm told Suits isnt really, which is sad cause its my favourite series lol
there wouldn't be one, because all M&A lawyers are either bored, coke addicts or stressed - or all three. it would be a pretty anti-climactic movie.
In the year 2024, I will obtain a work ID as a lawyer, and I will also apply for a master’s degree🎉😊
What law firm do you work for?
Clifford Chance, I believe