Fried, Frank, Harris, Shriver & Jacobson LLP - True Picture

Fried from its stateside reputation if we’re speaking Frankly, these fund-famous Londoners offer a training contract characterised by associate-like responsibility.

Fried Frank training contract review 2025

The Firm



Admittedly, the name of the firm does indeed sound like some poor bloke called Frank who’s become the latest victim of the idiosyncrasies of Scottish cuisine… except “it’s pronounced ‘Freed’ not 'Fried'!” Perhaps then it’s named after an identically named whistle-blower who is now enjoying their newfound freedom after years of incarceration. Whichever way you look at it, the name – as ever – remains a talking point. As training principal David Christmas reminisces, “I think there was something in last year’s True Picture about the fact that it’s ‘Freed’ not Fried.” He continues enthusiastically: “That’s absolutely bang on! That’s the sort of information we need out there. We need people to know how to say our name – it’s part of the issue!”

“…London is a firm part of Fried Frank’s ecosystem.”

Irrespective of the firm’s eponymous origins, Christmas admits that the name Fried Frank doesn’t yet carry the same weight on this side of the pond, particularly in comparison to its powerhouse status in the US. But when it comes to funds work within private equity, banking and finance, nobody within the British capital needs reminding of the firm’s standing; just take a look at Chambers UK where it’s awarded gold medals in all three, on top of its international arbitration prowess. “Trainees should know that London is a firm part of Fried Frank’s ecosystem,” Christmas nods, adding: “New York is the HQ, but we’re fully self-functioning and we’re not a satellite office.” Though, “the key thing about London is we’re trying to replicate the key strengths in the US – corporate, M&A, private equity, real estate, and litigation – and in doing that, London is supported by our other European offices in Frankfurt and Brussels.”

Sound like your cup of tea? In terms of recruitment, Christmas details, “we want people with personality, that get-up-and-go attitude, and drive.” He then laughs, “We see tons of CVs – some of them so impressive that I think they should be applying for Secretary General at the UN!” Don’t let this intimidate you though; “it’s important to note that you don’t have to have done everything by the age of 22.” Instead, “we want people who have perhaps overcome a bit of adversity and people who just have something about them.” Famed for its small trainee intake, it was indeed the more intimate vibe that proved to be the real clincher amongst our interviewees. With the yearly cohort having increased from three to four, one trainee declared, “I didn’t want to be one of 150,” and another expressed their desire to do more than “just photocopying and scanning.” Luckily for them, Fried Frank lets its trainees get stuck in from the get-go!

The Seats



With “choices quite limited because Fried Frank’s practice areas are so specific,” trainees explained that finance, funds, and corporate are three core seats undertaken by every newbie at the firm. Leaving the one remaining seat for trainees to select, an interviewee explained that whilst “you can put feelers out there,” whether you get your desired seat “ultimately depends on business need.” Real estate, competition, and tax were described as “more interchangeable,” but the firm typically does not want to promise trainees any particular seat.

“There are lots of lawyers from different countries and backgrounds across all levels of seniority.”

Colloquially known within the firm as ‘funds’, Fried Frank’s globally recognised asset management department was understandably a major pull for trainees. A powerhouse in the market, one newbie called the firm “probably one of the three biggest funds firms in the City,” which has been further strengthened in recent times through “market-leading” lateral hires from Kirkland & Ellis. The seat is also characterised by “very varied and interesting work,” as an insider noted: “I’ve never had the same day twice.” As such, the team offers a vast array of daily tasks for newbies to sink their teeth into, with typical duties consisting of proofreading, document review, LPAs, private placement memorandums, drafting letters and keeping track of how deals progress. What’s more, as this is the firm’s largest team, one interviewee highlighted: “There are lots of lawyers from different countries and backgrounds across all levels of seniority,” while the heftiness of the group also naturally leads to a sustained stream of work and an eye-catching client roster. For instance, they recently represented BlackRock on several fund mandates including private equity, credits, real estate and infrastructure, and have worked closely with the likes of HSBC and Morgan Stanley. But despite the team’s bulk, sources made sure to shine a light on the high level of responsibility afforded to them as newbies: “You’ll often be in the room with just an associate and a partner.”

An element of proactivity is required amongst trainees in the finance team, with one source explaining: “It’s really what you make of it.” Emphasising the malleability of this department in terms of shaping your overall training contract experience, an interviewee added: “If you want exposure to lots of different deals, you can get it – but it’s all on you to create that.” Incorporating a “real range” of work, funds finance was described as the “bread and butter” of the team, with trainees also working on the likes of acquisition finance amidst “high-pressure” moments “dealing with companies in the worst stages of their lives.” While many client names remain confidential, the team recently advised LumiraDx – an international medical diagnostics company – in securing $400 million worth of financing arrangements with Biopharma Credit.

“You’re really treated as an associate.”

The team typically acts for sponsors, lenders, and borrowers, and newbie endeavours consisted of preparing board minutes, conducting CP checklists, reviewing ancillary documents and running issue lists. Drafting smaller documents and directly liaising with clients are a key part of the seat too, so our sources were enthusiastic about being given lots of responsibility early on, leading to claims that “you’re really treated as an associate.” That responsibility “is what I think makes Fried Frank so special,” added an insider, as trainees typically work very closely with “super-knowledgeable” partners in the teams such as Jons Lehman.

As one of Fried Frank’s smaller departments, real estate comes with a “slightly slower pace” of work compared to the firm’s corporate seats. Described to us as “the most applicable to real life” of all available practices, trainees did note that real estate still carries with it a high focus on M&A. Work in this seat is split between pure real estate and corporate real estate, the former typically focusing on commercial and development leases on the buyer side, while the latter looks at M&A activity amongst real estate intensive companies being bought and sold. As such, the team recently represented Starlight Investments in the launch of its new European residential asset management platform, and the group maintains a client list jam-packed with huge names like Goldman Sachs, Invesco Real Estate and Madison International Realty. Examining transaction and closing documents amidst conducting land registry and property checks were common daily tasks, with rookies also regularly speaking to clients directly and offering advice on a wide range of legal matters.

The firm’s corporate/M&A department is split into three subsections. The M&A limb of the group focuses on the buying and selling of companies, while the secondaries team typically acts for private equity firms looking to make new purchases, exit an existing one, or continue an investment to grow their business. The third wing of the group is public M&A, helping companies make the transition from a private to public company. Though, according to one interviewee, trainees will likely be “involved in all types of deals in some capacity,” so you need an appetite for a bit of everything. Speaking of… anyone hungry? We definitely are upon hearing that the team advised Domino’s Pizza on the €90 million sale of the company’s equity stake in Daytona JV Limited. Never veering away from your typical trainee tasks, daily life in the corporate team consists of mainly due diligence and drafting. As is the case for many a corporate seat, our sources relayed that “work has been more intense and fast-paced on this seat,” with a fellow newbie echoing that future trainees should know that “it’s a very fast-moving seat.”

Trainee Life



Hours were described by one source as “absolutely no joke,” - there’s simply no escaping the fact that “they are intense.” This trainee went on to say, “it’s perhaps to be expected for a US law firm, but the hours are definitely long,” and “anyone who’s thinking of applying really needs to know that.” Burning the midnight oil is the norm when in the depths of time-sensitive deals, so insiders hinted at an average working day of 9am to 9pm. This led one trainee to conclude, “I would say that’s a famously talked-about aspect of the firm, and my experience here hasn’t completely dispelled the myth of American law firm hours – they are definitely on the long side.” As a result, interviewees weren’t overly enthusiastic when it came to their salary. “You do know what you’re getting into though,” caveated one, but the “massive jump” to a whopping £173k NQ pay packet would leave nobody feeling short-changed!

“I even sensed throughout the application process that everyone was just so warm, welcoming, and down to earth...”

“I thought it’d be more cut-throat,” admitted one insider when reflecting on Fried Frank’s culture, while another spoke of their initial “apprehension about who I would be working with when I pictured a US firm.” But much to their delight, their worries were all in vain. “There’s lots of team camaraderie,” they were pleased to report, adding that people are always “happy to pop out and get coffee or lunch.” A fellow newbie agreed that “it really is a nice place to work,” and “I even sensed throughout the application process that everyone was just so warm, welcoming, and down to earth;” we were especially glad to hear “that’s all stayed true the whole time I’ve been here!” It helps that “people are just really willing to talk to you, which is something I really value.” So much so that “you don’t at all feel nervous to approach anyone.” While social outings are “probably not as frequent as at other firms,” Fried Frank does host regular firm-wide drinks, dinners, a Christmas party, Chinese New Year celebrations, as well as team-specific and associate business development events. Sometimes these events happen at the firm’s “swanky”office at 100 Bishopsgate, with the space offering “great views and lots of natural light in the beating heart of London.”

On diversity, equity and inclusion, one trainee shared that “I think the firm is doing really well in that space.” Another expressed their glee at what they’d perceived as “great progress for race, gender, and sexuality.” A colleague agreed that “the firm is definitely diverse in terms of ethnicity and gender,” but did flag that it’s “not so at a more senior level.” There are wellbeing initiatives in place such as counselling, therapy and free meditation sessions, and the firm also hosts a Pride and Disability Inclusion Alliance and a Women’s Forum alongside the First-Generation Professionals Network - designed for those who are the first in their families to attend university and have a career in law. Notably, Fried Frank also works closely with an organisation called PRIME where trainees spend time with those from less privileged backgrounds, “inviting them into the firm and taking them for lunch.” The firm’s engagement with meaningful matters doesn’t stop there though, as insiders were keen to point out Fried Frank’s proud pro bono scheme, with trainees receiving a weekly newsletter notifying them of opportunities. Of all this, one trainee summarised: “I think we’re definitely taking big strides in terms of widening access to the law.”

“I think we’re definitely taking big strides in terms of widening access to the law.”

There were rave reviews aplenty when it came to supervision at the firm. “My current supervisor is absolutely wonderful,” gushed one interviewee, “they are a real advocate for me and want me to really get the most out of my seat.” Trainees will likely sit near their supervisor in the office which many felt created a more natural “open dialogue” between them, making it easy to ask for feedback. But with a mandated mid- and end-of-seat review offering more formal points of feedback, we heard supervisors are always open for casual chats about anything on trainees’ minds. Training too is a mix of team-specific sessions and firm-wide events “which trainees are encouraged to attend regardless of practice area,” encompassing themes like billing system changes, legal concepts and practice area knowledge training. Qualification was described as a “real process of working together” amidst informal meetings over coffee with HR and members of teams. Trainees typically submit their choices after receiving a list of available NQ jobs, usually forgoing the interview process to maintain a discreet operation throughout. This year, the firm retained all three of its qualifiers.

Living on the EDGE...

The Ethically Diverse Group of Employees (EDGE) network offers a space to discuss personal and professional challenges faced by ethnic minority lawyers.

How to get into Fried Frank 



Open for 2027 training contract applications on 1 December 2024 and applications close on 23 May 2025.  

Application and trainee profile 

Ambitious growth has motivated Fried Frank to open its doors to trainees, and “while a lot of that growth has been achieved through lateral hiring, we are also very much committed to organic growth,” asset management partner and training principal David Christmas tells us. "Our training programme ensures that we will have homegrown talent in our pipeline to promote over the years, helping to cement the firm's culture.”  

With around 300 applicants for four spots, places are naturally very competitive. Those willing to defy the odds can find the firm's application form on its website. It currently contains questions on subjects such as commercial awareness, personal achievements and the potential challenges facing the firm in the next 18 months. In addition to this, applicants are also required to complete a Watson Glaser critical reasoning test online. The firm currently doesn't offer a vacation scheme, so applicants should take care to make sure their applications are top-notch! 

Interviews 

"The first round of interviews is really there to gauge the applicants’ interest in pursuing a career in law with the firm,” Christmas explains. This is followed by a commercial group exercise – “typically a discussion surrounding an aspect of a corporate transaction.” The whole process takes “a couple of hours,” Christmas estimates. Around eight to ten candidates are invited back for a second interview which is conducted by two partners. “Specifically, candidates need to be aware that a smaller office environment entails less spoon-feeding and a lot more responsibility than one might have at a larger firm.” 

 

Fried, Frank, Harris, Shriver & Jacobson LLP

100 Bishopsgate,
London,
EC2N 4AG
Website www.friedfrank.com

  • Partners 21
  • Associates 57
  • Total trainees 6
  • UK offices London
  • Overseas offices 4 (London, Frankfurt, New York, Washington DC)
  • Contacts 
  • Graduate recruiter: Nikita Patel
  • Email: TrainingContractApplications@friedfrank.com
  • Training partner: Jons Lehmann, jons.lehmann@friedfrank.com
  • Application criteria 
  • Training contracts pa: 3 for 2024 and 1 Trainee for 2023
  • Applications pa: 180
  • Minimum required degree grade: 2:1 or other
  • Minimum UCAS points or A levels: AAB
  • Dates and deadlines  
  • Training contract applications open: 18 October 2021
  • Training contract deadline, 2023 start: 30 June 2022 
  • Salary and benefits 
  • First-year salary: £45,000
  • Second-year salary: £50,000
  • Post-qualification salary: £145,500
  • Holiday entitlement: 25
  • Sponsorship 
  • LPC fees: Yes
  • GDL fees: Yes
  • Maintenance grant pa: £8,000

Firm profile
Fried Frank’s more than 750 lawyers are located in the key financial and government centers of New York, Washington, DC, London, Frankfurt and Brussels. The firm provides highly commercial guidance on sophisticated transactions, advises some of the largest private equity and asset management firms in the world and develops effective litigation strategies to address its clients’ most critical challenges. More information can be found at www.friedfrank.com.

Main areas of work
• Antitrust and competition
• Asset management
• Capital markets
• Corporate governance
• Corporate real estate
• Data strategy, security and privacy
• Digital assets and blockchain
• Environmental, social and governance
• Finance
• Financial services
• Intellectual property and technology
• International trade and investment
• Litigation
• M&A and private equity
• Private equity
• Pro bono
• Real estate
• Restructuring
• Securities enforcement & regulation
• Tax
• Trusts & estates 

*See firm website for complete list of practice areas and industries.

Training opportunities

Fried Frank offers a comprehensive training programme designed to equip trainees with the practical skills and legal knowledge they need to excel in their legal career. Trainees rotate through four practice areas over two years, gaining exposure to complex matters. They work closely with experienced partners, associates and business services professionals, receiving personalized mentorship and guidance.

Our program emphasizes the development of critical legal skills like legal research, writing and negotiation. Trainees also participate in workshops and seminars led by leading practitioners, staying current on the latest legal developments.

To learn more about our training program, explore our practice groups and discover what it's like to be a trainee at Fried Frank, visit our website.

Other benefits
• Private Medical
• Employee Assistance Programme
• Subsidised gym membership and corporate rates
• Life Assurance
• Group Income Protection
• Cycle to Work Scheme
• Mortgage Advice
• Group Personal pension
• Workplace nursery scheme
• Back-up Family Care

Diversity, inclusion and wellbeing
A Firm of Inclusion

At Fried Frank, diversity, equity, inclusion and belonging (DEIB) are not just words; they are the cornerstone of our culture and values. Our DEIB department collaborates closely with the DEIB Council, led by our chairman Ken Rosh, to ensure that Fried Frank is a place where every individual, regardless of background or identity, has equal access to opportunities and can reach their full potential.

Our Comprehensive DEIB Strategy

Our multiyear DEIB strategy focuses on several key areas:

1) Partner and business services leader engagement: We believe that true inclusivity starts at the top. Our leaders actively champion diversity and inclusion initiatives, fostering an environment where every voice is heard and valued.

2) Inclusion skills: We are committed to equipping our employees with the skills and knowledge necessary to foster a culture of inclusion in their everyday interactions.

3) Embedding DEIB into policies and processes: DEIB is not just a standalone initiative; it's woven into the fabric of our firm. We integrate DEIB principles into our policies, processes and everyday behaviors to ensure that inclusion is at the heart of everything we do.

4) Elevating Employee Resource Groups (ERGs): Our ERGs serve as catalysts for change and community builders within the firm. These groups play a vital role in fostering a sense of belonging, offering mentorship opportunities and advocating for their members.

Our ERGs in Action

Disability Inclusion Alliance: Our Disability Inclusion Alliance is committed to enhancing diversity and inclusion within Fried Frank by advocating for individuals with disabilities, improving accessibility and offering equal career development opportunities for all. with disabilities, improving accessibility and offering equal career development opportunities for all.

EDGE (Ethnically Diverse Group of Employees): EDGE provides a forum for lawyers and business services professionals from racially and ethnically diverse backgrounds to address challenges, share experiences and advocate for cultural diversity within the legal profession.

First-Generation Professionals Network: This ERG fosters a supportive community for lawyers and business services professionals who are the first in their families to attend university. We provide education, resources and networking opportunities to help members thrive in their careers. By creating an inclusive environment and promoting diversity, we aim to increase the number of first-generation professionals at all levels within the firm.

Pride Alliance: Our LGBTQ+ ERG, Pride Alliance, is a community dedicated to increasing awareness and understanding of LGBTQ+ issues, advocating for inclusive policies and providing pro bono legal support to LGBTQ+ communities.

Women’s Forum: The Women's Forum is dedicated to fostering and developing the talents and abilities of women across the firm. Through article discussions, presentations and mentorship opportunities, we empower women to achieve their full potential both professionally and personally.

Working Families: Balancing work and personal responsibilities can be challenging. The Working Families ERG provides support, resources and professional development opportunities for parents and caregivers, ensuring that everyone can thrive at Fried Frank.

Living Well at Fried Frank 

Fried Frank is deeply committed to the wellbeing of its lawyers and business services professionals. Our Living Well program offers a comprehensive approach to mental, physical and work-life balance. With 24/7 access to professional counseling, discounted gym memberships, back-up childcare and flexible work arrangements, we provide support at every stage of your career. We believe that a healthy and happy workforce is essential to our success, and we are proud to offer a supportive environment where everyone can thrive.

Social Media
LinkedIn
fried-frank
Twitter @friedfrank
Instagram: friedfrank

This Firm's Rankings in
UK Guide, 2024

Ranked Departments

    • Banking & Finance: Fund Finance (Band 2)
    • International Arbitration: Highly Regarded Spotlight
    • Investment Funds: Private Equity (Band 2)
    • Investment Funds: Private Equity: Credit Funds Spotlight
    • Investment Funds: Private Equity: Secondaries (Band 2)