Reed Smith LLP

Our Survey Says

VAULT'S VERDICT:

Reed Smith recruits entrepreneurial associates from highly ranked and regional schools near each office. The day-to-day atmosphere is pleasant and respectful, and lawyers and staff socialize when they come into the office, typically three days per week. The firm promotes attorney connection across offices by offering group and class cohort retreats and other activities that support the firm’s global culture. Partners often work closely with associates on small teams, and they promote individual development by encouraging junior associates to engage in work above their class level and by providing oversight and review. Associates embracing the opportunity to build their own practice appreciate the free market system of work allocation. The firm hosts a formal onboarding program, offers career coaching to prevent burnout, and sponsors Associate Advantage, which guides attorneys through their first three years of practice. However, leadership could be more transparent about firm finances. The firm’s billable hours requirement is 2,000, which includes up to 140 hours of pro bono and non-billable work. Associates who hit the billable hours requirement are paid market salaries and bonuses, and additional bonuses are paid to attorneys who bill 2,200 or 2,400 hours. The firm has established a two-tier compensation structure. Associates who don’t hit the billable hours requirement are placed in the lower compensation tier, but if they hit the requirement the following year, they are moved into the higher compensation tier and receive a true-up payment. Making equity partner is a realistic prospect, with associates normally spending time in non-equity partner or counsel roles before advancing. Associates who wish to leave the firm can leverage the firm’s alumni program to find in-house opportunities. Notable perks include a wellness app subscription, family-planning and parental leave benefits, and 24/7 tech support.