Reed Smith LLP - The Inside View

“We are among the great global relationship law firms of the day,” managing partner Sandy Thomas declares. Reed Smith’s associates certainly agree: “It’s a big-picture firm,” one source noted proudly, mirroring the thoughts of many others we spoke with. “We are set up to operate on a global basis with our industry and practice groups,” Thomas continues. Energy, healthcare, insurance, media and transportation are all sector strengths for Reed Smith, as evidenced by the firm’s rankings in Chambers USA. When it comes to practices, the firm boasts nationwide prestige when it comes to privacy and data security work: “Technology and data is a growing area of practice for the firm,” Thomas tells us. “When there’s a data problem, you need a global team with deep regulatory expertise.”

On a more local level, Reed Smith picks up its strongest collection of Chambers USA accolades in its home state of Pennsylvania, where its founding Pittsburgh office is located. Here, the firm’s sector strengths in many of the aforementioned areas stands out, as well as Reed Smith’s expertise in areas like corporate, private equity, litigation, banking and finance, and bankruptcy/restructuring. In California, the firm’s media and entertainment and life sciences know-how shines through, while in DCand Chicago Reed Smith’s regulatory capabilities with regards to pharma and medical products comes to the fore.

“…we’re ambitious and not a finished product geographically – we’re looking to build on our deep strengths.”

The firm’s energy work was a major draw for a few of our sources, but beyond legal expertise it was Reed Smith’s environment that sealed the deal: “The people I met during the interview process were hard-working but down to earth – work wasn’t their entire life,” an interviewee reported. For those who joined the Pittsburgh base, the firm’s “prestige here definitely played a role in my decision to join, as it’s generally considered the best firm in the city. It has a big presence here, so there are a lot of associates that you can benefit from being around.” Pittsburgh was home to a significant number of the juniors on our list, but the New Yorkand Philadelphia offices also had large associate populations. Juniors could be found in the DC and Princeton bases, too.

Strategy & Future

“We’re absolutely in growth mode,” says Thomas, “and all 3000 of us are pushed to be in that mindset; our goal is for all of our people to be oriented toward client relationships – we’re looking out for them every minute of the day.” He also notes that “we’re ambitious, so we are not a finished product geographically and we’re looking to build on our deep strengths."

Thomas points out that “attracting a diverse and highly talented team” is a key component of Reed Smith’s strategy, and he’s confident that the firm’s approach to legal tech is on the right track: “This is the sweet spot for us! We hired our first technology chief of innovation, David Cunningham, to ensure innovation cuts into everything the firm does.” He highlights that the firm’s tech subsidiary, Gravity Stack, enables it to “solve a large part of clients’ issues… We are minded to be the ones approaching clients – we want to be on the push-end to find ways technology can improve service.” For more from Thomas, click on the ‘Get Hired’ tab above.

“The ESG component – which affects a lot of the sectors covered by Reed Smith – is only going to mature."

This sage associate also underlined how “the ESG [Environmental, Social, and Governance] component – which affects a lot of the sectors covered by Reed Smith – is only going to mature,” placing its importance on commercial longevity: “Who wants to invest in a company that doesn’t have the latest ESG practices?”

The Work       

Reed Smith’s corporate, commercial disputes, entertainment and media, and energy and natural resources groups housed many of the juniors on our list. Across the practices, work assignment tends to be “pretty free-market – you reach out to the people you’re interested in working with. In practice it works well because a lot of work is relationship-based and you can get into a natural flow with people where you build upon the work that you’ve done before.” We heard that “partners and associates also reach out to you for work,” and that “new associates do have someone they can go to for help with work assignment.”

"A lot of the deals will have international components, but our clients are mainly based in the US.”

“Within the corporate group you might be doing all sorts!” a junior gleefully reported, “M&A deals, debt finance work, venture capital transactions etc…” The M&A transactions usually involve private companies, we heard, and “can be pretty fast-paced. A lot of the deals will have international components, but our clients are mainly based in the US.” One source had mostly encountered deals occurring in the manufacturing and healthcare sectorsand noted that a highlight had been helping to negotiate a credit facility for a client. “I like working on M&A transactions because they’re so large,” another interviewee added. “You’re reaching out to other people in tax, environment, and regulatory groups.”

Corporate clients: Wind Point Partners, Avis Budget Group, GNC, Meta Aerospace. Advised The Blackstone Group on its $5 million investment in Alation.

Those in energy and natural resources told us that they’d picked up work from a couple of partners (“who are essentially your mentors”) but still felt “100% free to explore the areas within the group.” Oil and gas and chemical management matters had cropped up, with one source telling us that overall “the acquisition market is really hot right now. I’m taking on the initial due diligence, looking at environmental documents, and representing the seller on occasion.” There is a big ESG element to the work here, with this junior explaining that they’d spent time “advising clients on their climate change strategy… I like getting involved in big deals that are changing the landscape of the industry… we’re looking at billions of dollars of capital and resources changing hands.” There can also be litigious elements to the work, with this junior highlighting that they’d stood before “the environmental permit board and litigated things in the administrative court.”

Energy & Natural Resources clients: Chemstream, Chesapeake Energy, Mountain Valley Pipeline. Represented the latter in cases brought before the US Court of Appeals in relation to the company’s planned $4.6 billion pipeline across Virginia and West Virginia.

“Usually my plate is full!” exclaimed a junior in the entertainment and media group. “I feel like I’m working on three or four different matters every day.” We were told that matters are primarily US-based and span the likes of endorsement deals, production agreements and advertising claims. “We work with real celebrities,” a source pointed out, “which is cool, but it’s not like I get to meet them!” A highlight here was being able to edit contracts: “I really like that element of my work and I appreciate that the group lets me take the first steps on them.”

Entertainment and media clients: Concord Music, Fuji Music Group, Fortress Investment Group. Advised Foxburg Productions on the production of the ABC Television series The Rookie.

Career Development

Associates were confident that Reed Smith actively seeks to invest in them, with this source highlighting: “There are a lot of internal training and mentoring programs offered. I’ve also been involved in creating programs for clients, so they want you to get involved in the business development aspects as well.” Juniors are usually assigned two formal mentors – a senior associate and a partner – and go through an annual review/self-evaluation process, partly so “the partners can make sure people get the work they want.”

“…the partners I work with act as mentors and say to me, ‘You’re on track for becoming a partner!’”

The consensus was that partnership “feels attainable to the extent that you want it.” Sources tended to have good things to say about the encouragement they’d received, with this junior explaining that “there’s a lot of expectation around associate development – you get pushed along,” while another enthused that “the partners I work with act as mentors and say to me, ‘You’re on track for becoming a partner!’ I feel like I’m being invested in.” Those who don’t want to go down the partner route “tend to leave around the mid-level associate point, and almost all of them go in-house,” we heard.

Hours & Compensation

Billable hours: 2,000 target

If associates hit the 2,000-hour billable target, they receive a non-discretionary, hours-based bonus, but we heard that a discretionary amount may be paid on top of that based on other performance factors. Most sources found the billable target achievable, especially in practices like real estate where the work had been coming in thick and fast: “There’s definitely been no shortage of work over the past year!”

“...a really great commitment to pro bono."

The approach to hybrid working was also viewed favorably at the time of our calls: “Nobody is required to come in, and that’s going to remain in place for the long term – I just come in on days I feel like getting out of the house.” The hours “ebb and flow as you would expect,” a source explained. Another told us that “on a good week I’ll bill between 35 and 40 hours, but on a bad week it can be up to 60!” This interviewee never had “a partner calling me at 11pm, but if there’s a time zone factor or if something needs to be done at midnight, then something has to be done at midnight!” Weekend work did occur as a result of “a lot of tight deadlines – sometimes the weekends are the only way you can catch up!” While some did feel the work creeping into their personal lives, a sense of camaraderie ensured they didn’t feel like billing machines: “If associates are working long hours, partners are working long hours.”

Pro Bono

“When you walk through the door the first thing you get is get a book-load of pro bono opportunities,” a source informed us. Juniors tended to agree that Reed Smith has “a really great commitment to pro bono – they’re not only saying it, you can also credit it without fearing it taking up hours.” Associates can count up to 140 of pro bono hours toward their billing target (this number can also include DE&I work, knowledge and management work, and development matters), and matters can cover “pretty much anything you can imagine!” An email goes out “at least once a month telling you about the projects you can get involved in.”

Juniors emphasized the availability of immigration work, as well as collaborations with cancer care organizations and the Pennsylvania Innocence Project. Several commented passionately on the Name Change Project, which “is very well done – we work with TLDEF [Transgender Legal Defense and Education Fund] clients who may not have a lot of finances and we flag if we’re available to take on a client. You get to help prepare the name change documents, guide the client through the process in court, and present a petition for the name change to the judge.”

Pro bono hours 

• For all US attorneys: undisclosed
• Average per US attorney: undisclosed

Culture

“Pittsburgh has a very collegial legal market,” a source commented, and “that’s reflected in the office here; one of the first things I was told was ‘This is not a cutthroat environment,’ and thankfully it’s not like The Hunger Games!” The team-driven, collaborative environment was replicated across locations and the overall view was that “the culture is really strong – COVID has made it harder, but we have a strong associate group who meet up outside of work.”

“…one of the first things I was told was ‘This is not a cutthroat environment,’ and thankfully it’s not like The Hunger Games!”

As the pandemic restrictions ease off, firm-sponsored events are making a return. Associates told us: “There’s this event called ‘Dine Around’ where attorneys get to eat at restaurants around Pittsburgh,” which was viewed as a great way to bring associates and partners together. “People go out of their way to introduce themselves during happy hours,” another source highlighted, while this interviewee felt that there were social moments to be enjoyed throughout the working day: “Partners do check in with you and calls aren’t immediately about getting down to business!”

Diversity, Equity & Inclusion

All juniors we interviewed could speak at length about the firm’s DE&I approach and we got the impression that there are a lot of initiatives in the mix. Affinity groups were described as “very active” and, as mentioned, associates can get billable credit for contributing to their activities. Another mentioned that “there’s a race equity action plan” called REAP, which aims to increase the representation of Black attorneys across the firm. Others found that the firm’s primary/secondary caregiver leave policies were also a significant positive. “It’s refreshing,” said one source, commenting on how the firm was “reevaluating its hiring practices” to bolster DE&I.

“It’s refreshing.”

“There are so many events it’s hard to keep track of!” another interviewee declared, adding: “We routinely get emails about the different events that are coming up, whether they are run by our affinity groups or involve clients.” Associates noted that “for pride month we did photo shoots, and we try and get the word out to talk with guest speakers.” Sources also referenced events to mark Black History Month and the Asian American experience.

Get Hired

The first stage: recruitment on and off campus

OCI applicants interviewed:  810

Interviewees outside OCI:  175

Reed Smith visits just under 50 law schools for OCIs and collects resumés from just under 20. Alongside this, the firm visits five job fairs: The Lavender Law Career Fair, the CCBA Chicago Minority Job Fair, the Philadelphia Area Diversity Job Fair, the Northeast Black Law Students Association Job Fair, and the Bay Area Diversity Career Fair. The firm usually interviews 20 students per campus or job fair. 

Reed Smith often sends active alumni to particular law schools, or members of the hiring committee. The firm tells us “we look for individuals who have shown a focus on academic achievement who have diverse backgrounds and varied experiences so showing that you’ve participated in law reviews and moot courts won’t hurt! “In addition to being impressive on paper, we’re looking for students whose communication skills and emotional intelligence make them memorable standouts after a long day of multiple screening interviews.” One source remembered “we would veer away from formulaic questions into a nice fluid conversation.” 

Top tips for this stage: 

“I found it helpful to have taken opportunities to intern as much as possible. It meant I had a few stories in my back pocket that were good examples of my legal skills, but also light-hearted.” – A second-year junior associate. 

“Be interesting and interested. Enthusiasm for the Reed Smith opportunity can help students stand out from the pool of academically-qualified candidates. Demonstrate your research on the firm’s offerings, and show your interest in being a part of what we do here in a socially savvy manner.” – Reed Smith. 

Callbacks 

Applicants invited to second stage interview:  289

All callback interviews were conducted via zoom in 2021.  Callback interviews still vary between Reed Smith’s offices. In San Francisco, for example, “you can expect to meet with eight different attorneys in pairs and wrap-up time with the recruiting manager.”

 Over in New York , students attended callback evenings where they met with four attorneys “in a round-robin-interview format and then attended small group breakout sessions where they had  an opportunity to connect with additional Reed Smith attorneys.” At this stage, the firm’s ‘must haves’ in a candidate are “strength of character, outstanding personal skills, demonstrated leadership and teamwork, a hunger for self-development, intellectual curiosity and a good sense of humor.” 

Top tips for this stage: 

“Find ways to connect with your interviewers. It comes down to being memorable as an intelligent, socially adept, hard-working person with a desire to work hard and learn new things. Share narratives about your background and experience that illustrates these characteristics and skills.” – Reed Smith. 

“I wish somebody had told me: 'Don't be nervous about the interview – you earned it!’ Instead of coming in nervous, come in proud that you got an interview at a firm like this. It will change anybody’s outlook.” – A second-year associate. 

Summer program 

Offers:  103

2L Acceptances:  41 (from OCI)  7 (returning SAs)

Reed Smith's summer program runs for ten weeks, between May and July. Before joining, summers are quizzed on their interests so attorneys can aim to have suitable projects lined up throughout the program. Work is assigned though an online portal, with recruiting managers and assignment coordinators on hand to help incomers navigate the process. The firm tells us that the idea is for summers “to ‘sample from the work buffet, trying their hand at a variety of legal work across many client teams.” 

The firm’s Summer Associate Academy provides students with an array of training sessions on topics like diversity and inclusion, writing and research, and timekeeping. There’s also a Q&A with the global managing partner, Sandy Thomas. Some offices also host additional training – a mediation simulation and M&A case study are the most popular every year. Some offices also pair summers with a dedicated writing coach to help tighten up their drafting. Social events vary by office but are available in the virtual setting and are organized via zoom.  Most summers are given offers and most accept them. 

Notable summer events: All virtual escape rooms, cooking parties, indoor plant workshops, paint nights, mini campfire event, wine tastings, trivia night, charcuterie board making

Top tips for this stage: 

“Find the balance between professionalism and casualness to build a terrific reputation and strong relationships. Demonstrate intellectual curiosity; ask colleagues what they’re working on, and show enthusiasm for practice, people and activities that are of interest to you.”  – A junior associate. 

And finally... 

The firm has some final words of wisdom: “Have a strong sense of what drives you – promotion and advancement, challenging work, giving back, financial reward, purpose, professional connections, strong support systems – and ask questions during the recruitment process to determine if a firm truly offers what you need to be successful and engaged.” 

Interview with managing partner Sandy Thomas

Chambers Associate: How would you describe the firm’s current market position?

We are among the great global relationship law firms of the day – we are set up to operate on a global basis with our industry and practice groups, and in order to be able to have deep relationships across practices and geographies.

CA: Are there highlights from the past year or in the firm’s immediate future you think our readers should be aware about?

We had big wins in two jury trials for life sciences clients in high-stakes product liability cases. We won a matter with Pepsi which drew on global disputes capabilities, cross border work, securing an important dismissal on appeal of a former Peruvian PepsiCo bottler’s wrongful termination allegations. Technology and Data is a growing area of practice for the firm, when there’s a data problem and you need a global team with deep regulatory expertise; the work we’re doing with these clients for example in Singapore, London, and in the US – it’s all a group because of the nature of the work. We had a very busy deal year – I’ll share just a couple highlights: a New York / London / Hong Kong team advised Relativity with a strategic growth investment from private equity firm Silver Lake. Relativity is valued at $3.6 billion. We advised Sony Music on its acquisition of two companies from Kobalt Music Group for $430 million: AWAL, the recorded music services firm that works with a variety of well-known independent artists; and Kobalt Neighbouring Rights, a performance rights collection agency.

CA: Would you characterize the firm as in growth mode?

We’re absolutely in growth mode, and all 3,000 of us are pushed to be in that mindset; our goal is for all of our people to be oriented toward client relationships – we’re looking out for them every minute of the day. We’re ambitious, so we are not a finished product geographically and we’re looking to build on our deep strengths.

CA: How has the firm weathered the pandemic and has it affected the firm’s long-term strategy?

The pandemic has really impacted on some of our people so you have to acknowledge it’s been challenging. Institutionally we have stuck together really well; we went into the pandemic with a very robust community - internally as well as with the clients. We will definitely be working differently as the pandemic subsides, developing new habits; we have a policy now of flexible work, and it’s not prescriptive, so we rely on the good judgement of our people.

CA: What is the greatest challenge facing the firm in the next decade? How about the legal market more generally?

From my perspective, for both, easily the top five answers are talent, talent, talent, talent, and talent! There’s a lot that goes into that word but it goes back to our 4 year plan - one strategic driver is adopting and maintaining the growth mindset and another is attracting a diverse and highly talented team. We have a good understanding with ALSPs, and relationships with them which are good.

CA: How has the rise in legal technology affected the firm? Are you implementing any specific programs/initiatives with regards to technology?

This is a sweet spot for us! Our tech subsidiary, Gravity Stack, helps clients solving challenging problems through the use of technology, and it’s embedded in dozens of client relationships – through this we can solve a large part of clients’ issues. We are minded to be the ones approaching clients – we want to be on the push end to find ways technology can improve service. We hired our first technology chief of innovation, David Cunningham, to ensure innovation cuts into everything the firm does – again, it’s all client oriented.

CA: What is Reed Smith's approach to DE&I like?

Firstly, we have been Mansfield certified – the framework really works for us and at the leadership level, so that’s very important to us. We’ve had a very robust D&I program for 20 years, and incorporated a racial equity plan last year in the throes of a difficult summer; it has specific objectives for the growth of black lawyers in the global leadership team and of black professionals among our administrative staff. These goals, combined with the plans of our affinity groups, make for a very robust set of ambitions.

CA: Any advice for those about to enter the legal industry?

This is an excellent time to become a lawyer; I am hugely bullish in the role lawyers play in the scheme of what clients need – if I were just starting out I’d feel very empowered. One of the things we’ve seen is that in difficult times the legal industry has proven to be very valuable to clients – but on the flipside, the law is a contact sport, depending on relationships, with clients which take time to cultivate and create.