MAGIC CIRCLE, life/work balance

What are the typical working hours for MC firms?

Also, I read somewhere here that the intenral computer system determines a set number of "actions" an employee has to make, before he/she can log off.

Is that true?
What happens when you actually finish your countless letters etc etc?

Let's put it like this -- they are not paying your flat in the city and vacation house abroad so that you enjoy them! Hours ARE inhumane, but everyone is given a choice in life

Are you at an MC firm?

My hours are perfectly humane, thank you.

I have 2 friends who work at Slaughter and May and they work insane hours, I regularly work between 50-70 hours a wek at a consultancy, and remember complaining about a 60 hour week once, to which I got the reply "I've done 60 hours straight!" It may be an exaggeration, but from what I know of those two guys, 60/70 hours+ a week is normal, that's reflected in the pay however and the "name" on your CV

I remember reading a few trainee comments in Chambers Student Guide which stated something along the following lines: "people who like to sleep are boring" and "shower is key when you have worked for 24 hours and need to continue working for that bit longer" or "we work until 1am, then go out to party and get back into the office at 7am". Every each one of these made me cringe. I am not against hard work but the first comment especially is slightly on the extreme - I like to sleep and that certainly does not make me boring

Granted, the above comments were made by trainees at one particular MC firm which seems to have a reputation for a pretty strong face-time culture. However, I still wonder how much of it is pure showing off?

Not at my firm.

Ok, we have to record at least 7 hours a day - but I think that's pretty standard - i mean, what have I been doing all day if i haven't managed to do 7 hours' work by 6pm? We're supposed to bill 6.5 hours a day but it's fairly obvious that this depends on what you're doing that day, what work is on in your department and what your trainer is doing. As long as people aren't billing just 2 hours a week or something stupid, no-one really cares about the billing.

I'm training at an MC firm, and quite frankly, the hours are fine. Some horror stories have been thrown around, e.g. a 36 hour stint over a deal-close in corporate, but the person who did that is well known as being someone who appears to spend more time telling people about how many hours she did than actually working during that time. There are a few people like that at the MC firms - kissing backside at all hours of the night isn't everyone's style though.

I leave at about 6.30 every day - there was one late night a few weeks ago (11.30pm) and I've left at about 9pm a few times, but it's rare.

Lots of people just dont know how to prioritise properly - they seem to spend hours doing work at night that just doesnt need to be done that day!

I'm sorry to say that a lot of you are in for a shock - the current crop of trainees has had it easy due to the credit crunch.

I've worked 60 hours straight. I've worked 104 hours between 9am on Monday and 5am on Saturday and not left my desk for anything longer than a toilet break or a quick shower during that time (head down on desk, grabbing an hour or two's sleep here and there). Admittedly not in the last 18 months or so, but in my first few months, before the credit crunch, sure.

I'm sorry to say that a lot of you are in for a shock - the current crop of trainees has had it easy due to the credit crunch.

In late 2007 and early 2008, in M&A or Corporate Finance or Derrivatives or Capital Markets or Private Equity or a whole host of other departments at MC firms, hours were sick compared to how they've been for the last 2 years.

We will get back to that level, and yes the difference will be up to 50% between MC and SC.

9 - 7:30 is hardly 30-50% less than 9 - 9!!!

I can't stand the way some people in MC think they must automatically work SO much harder than anyone else... I don't deny that many work hard but not 50% more hours, what a joke.

The one in bold is hilarious .

I think people need to be realistic about what the work-life 'balance' is like at magic circle firms. I know Freshfields this year changed their recruitment material to reflect this (you can see references to long hours/skipping dinner/all-nighters all over the new brochure and website), and they're now making sure applicants are aware what the hours are like there.

The video diary of a 'typical trainee day' (the first one) shows a woman working from 9AM-10.30PM. It's quite clear the type of people they want to attract this year.

http://careers.freshfields.com/global-careers/en/uk/trainees/life-at-freshfields/video-diaries.aspx


On the other hand it's worth remembering that people tend not to stay in the magic circle for more than 2-3 years post qualification. By that point the majority will have left already. In the long run you're going to get a lot more out of putting in the long hours for a few years at a MC firm and taking that intense experience and having that for the rest of your career.

Ha at the ending bit.

Profuse thanks, some ruined Saturday's, exceptional teamwork, unexceptional biscuits, and shared achievements

I've worked 60 hours straight. I've worked 104 hours between 9am on Monday and 5am on Saturday and not left my desk for anything longer than a toilet break or a quick shower during that time (head down on desk, grabbing an hour or two's sleep here and there). Admittedly not in the last 18 months or so, but in my first few months, before the credit crunch, sure.

I'm sorry to say that a lot of you are in for a shock - the current crop of trainees has had it easy due to the credit crunch.

In late 2007 and early 2008, in M&A or Corporate Finance or Derrivatives or Capital Markets or Private Equity or a whole host of other departments at MC firms, hours were sick compared to how they've been for the last 2 years.

We will get back to that level, and yes the difference will be up to 50% between MC and SC.

I take issue with the comment about the biscuits.

I take issue with the comment about the biscuits.

9 - 7:30 is hardly 30-50% less than 9 - 9!!!

I can't stand the way some people in MC think they must automatically work SO much harder than anyone else... I don't deny that many work hard but not 50% more hours, what a joke.

Pre credit crunch, we really do. I lived with a SC friend in the same department as mine and it was easily a 50% difference (45 hrs billed a week average vs ~70)

It's a good job you're not a banker.

It's a good job you're not a banker.

Billable... Add 15+ for business development, training, admin, lunch etc

Its as bad as most forms of banking I've got friends in. Once you get to the 100 hours in 5 days area its literally impossible to go any higher.

The one in bold is hilarious .

I think people need to be realistic about what the work-life 'balance' is like at magic circle firms. I know Freshfields this year changed their recruitment material to reflect this (you can see references to long hours/skipping dinner/all-nighters all over the new brochure and website), and they're now making sure applicants are aware what the hours are like there.

The video diary of a 'typical trainee day' (the first one) shows a woman working from 9AM-10.30PM. It's quite clear the type of people they want to attract this year.

http://careers.freshfields.com/global-careers/en/uk/trainees/life-at-freshfields/video-diaries.aspx


On the other hand it's worth remembering that people tend not to stay in the magic circle for more than 2-3 years post qualification. By that point the majority will have left already. In the long run you're going to get a lot more out of putting in the long hours for a few years at a MC firm and taking that intense experience and having that for the rest of your career.