Ashurst - The Inside View

This British import is in it for the long haul, both with its projects focus and US expansion plans.

Stepping into big shoes is no joke; it can feel intimidating, especially when the bar has been set so high. There’s the pressure not only to match what’s already been accomplished, but to carry on a legacy. Alas, no such worries keep Ashurst’s US offering up at night. With the backing of a 200-year-old British bloodline, Ashurst’s remaining steadfast in its mission to conquer stateside. “We have a very small national footprint compared to our competition, but we are able to leverage the global platform we have,” New York managing partner Sharon Kim notes, “our client base is comparable to the large US firms.” Looking ahead, Kim highlights, “We’re keen to grow the US offices and practices as fast as possible.”

Indeed, Ashurst’s US practice boasts a modest headcount of just over 50 attorneys and  it was these leaner numbers which caught the attention of many of the firm’s associates. “I knew I’d get a lot of mentorship and attention, alongside work I found intriguing,” one source beamed. The work in question mainly centers around projects, in particular, private-public partnerships. The firm’s expertise is so great that our sister guide Chambers USA places the small but mighty group top of the podium nationwide.

“The cross-border component is great.”

The firm has three offices across the US in New York, Los Angeles and Austin, though junior associates were only posted in the former two offices. Further afield, the firm has an additional 19 offices which make up its global offering. “It really does feel like a family,” one source summarized, “the cross-border component is great.”

The Work



As all US offices are leanly staffed, associates tend to find work through a free market system. “It’s quite organic,” sources made clear, “the work is usually just passed down by the partners or senior associates.” In the projects group, there are a few main matters which all associates work on, giving juniors some foresight and structure. “It’s a bit more stable,” they noted, “I know what I’m doing today, and next week, and probably next month! You’re typically on a project until it ends.” We heard the firm is also very good at keeping an eye on workloads. “I never feel under- or overworked,” one insider explained, “everyone is very good and understanding when you’re busy.”

In the projects & energy transition group, associates are based out of both New York and LA. Here, our insiders carry out work for various state governments on different projects. “It’s even more exciting work than I would’ve thought,” beamed one junior, “you feel your work has a real impact and you’re enriching the community.” Such notable matters include offshore wind terminals, building the first light rail in Austin, and construction work for the LA Olympics in 2028. Naturally, the size of the firm added to our interviewees’ quick development: “We have a small team, so we’re given a lot more responsibility than juniors usually are at bigger firms.” Case in point: associates in the group are able to get stuck in with drafting instructions to propose, contractual and procurement documents, editing and formatting, research tasks, and client contact. “We get a lot of exposure here,” one associate divulged, “the firm is really open to guiding your career in the way that you want.”

Projects & energy transition clients: Los Angeles Metropolitan Transportation Authority, The Port Authority of New York and New Jersey, City of San Jose. Advised Austin Transit Partnership on a transit expansion plan, including the city’s first light rail line, called Project Connect valued at over $7.1 billion.

“You get a lot of responsibility on these deals because the firm is smaller.”

The finance, funds & restructuringgroup hosts quite a few subgroups in its New York base of operations, including global loans, structured finance and derivatives (to name just a few). In fact, sources felt that within the world of finance, the practice was a bit of a jack of all trades. “There’s no specialty here,” an insider noted, “we do almost any kind of finance; we do it all and every day is different.” The global loans subdivision mostly works with clients on the lender side of deals, while also providing advisory support to the rest of the offices in the firm’s global network. “It really makes Ashurst feel like a united front working with our offices in every jurisdiction,” one source emphasized, “we have such a broad scope geographically.” The typical junior tasks include completing checklists, email tracking, research tasks, and drafting security and ancillary documents. “You get a lot of responsibility on these deals because the firm is smaller,” disclosed one junior, “you’re going to be relied on more, and given opportunities to work with a lot of different people.”

Pro Bono



Ashurst allows attorneys to count up to 50 hours of pro bono work towards their billable targets, though juniors were keen to emphasize that they tend to do more than that. “It’s just matter-of-fact that people do it here,” we heard, “it’s an automatic thing so it doesn’t need to be encouraged.” The work on offer is usually free market and exhibited through a pro bono newsletter; sources mentioned getting stuck in with causes such as asylum applications, NGO work and mini procurements. “It’s very fulfilling work,” one insider expressed; associates based out of the LA office noted working on legal assistance efforts around the recent local wildfires as a particular highlight.

Pro bono hours

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

Career Development



Juniors were eager to relay the firm’s investment in developing them as attorneys. “I think the biggest evidence of that is our low turnover,” said an interviewee, “people feel like there’s a future for them here.” One example of the firm’s efforts includes the firm’s commitment to development weeks - yearly courses that provide guidance on the likes of your personal brand, networking and how to delegate. As a general rule too, associates are kept informed on their progression: “We’re in the know about what skills we need to work on and who we should be reaching out to,” insiders highlighted.

Mentorship was universally praised by our interviewees, with associates stating, “There’s people at the firm that care about you and they’re doing a good job of fostering that warm environment.” Associates are assigned both a senior associate and a partner mentor upon summering at the firm, and sources certainly felt the benefits of both. “I don’t know if I just got lucky or not, but they’ve been invaluable to me,” one gushed. Given the passionate response to mentorship, we’d say luck has little to do with it!

Culture



“You’re not just another face in the crowd.”

The firm’s size allows for a tight-knit feel for our insiders, which they favored: “You’re not just another face in the crowd, you’re able to get yourself out there.” Harkening back to its roots across the pond, sources felt the firm has more of a European vibe. “It’s not super-corporate,” said an insider, “it’s quite easygoing and laid back here.”

Social events are common, often revolving around an activity like crochet, pickleball, or cooking. Sources also teased more options in the pipeline: “I think we might do some longboarding this year!” Watch this space… Otherwise, associates were able to enjoy weekly department lunches and quarterly drinks – not to mention an annual pool party in the Hamptons, various holiday events, the occasional shindig at a partner’s house (which attorneys are free to bring their significant others to), and a “jam-packed summer” with recruitment events.

Inclusion



Despite its three US offices being on the smaller side compared to the flagship base in London, associates were generally impressed with the multiculturality of the firm’s stateside practices. “There’s maybe less than 40 people here in New York, and I’d say half the firm is non-US born,” one source pointed out, “there’s lots of racial diversity and female partners and associates.” Notable occasions such as Black History Month are acknowledged and celebrated at the firm as well. Insiders did note that the lower headcount meant there aren’t any affinity groups, but the firm’s efforts for a supportive environment are clear: “Ashurst is really good at making people feel comfortable and that they belong at the firm.”

Unanimously, our insiders couldn’t be more thrilled by Ashurst’s parental leave policy, which is six months paid time off, and another six months unpaid, regardless of gender: “I think that’s a real example of how the firm invests in each individual and I just think it’s so generous!”

Hours & Compensation



Billable hours: 2,000 target

Associates have a billable target of 2,000 hours; within that target is a bucket of 50 pro bono hours and another 50 business development hours. While our sources in LA had a few concerns about making target, those in New York weren’t too fazed; “It’s ok to reach,” they noted, “I don’t need to be busy every month in order to achieve that.” Those that hit target are rewarded with a market-rate bonus on top of a market-rate salary.

There’s a slight variation on hybrid working policies per office. Those in LA are asked to be there in person three days a week, while those in New York are in for four days. That said, “There’s a lot of flexibility and understanding involved,” sources made clear. Hours varied between our sources, though a few cited midnight finishes on busier days. Interviewees were also keen to note that the firm tries to provide prior notice of busier periods and weekend work. “I appreciated that,” said one, reassuring that “weekend work hasn’t been the norm.”

Strategy & Future



Kim explains that a core development for the firm in recent years has been technology – artificial intelligence in particular. “We have an internal AI platform called Harvey,” she notes, “we’re very careful how and where it’s used, but we’re very open to new technologies.”

In terms of geographical growth, the firm recently set up shop in South Korea, and it’s expanding its footprint in the Middle East, too. “We continue to grow organically and always consider opportunities to expand against our strategic priorities,” Kim adds.

 

Get Hired



The first stage: recruitment on and off campus 

Ashurst typically participates in OCI's and resume collects for all of the T14 law schools with additional participation at strong local schools. In addition to on-campus recruitment, the firm accepts direct write-in submissions via their website.

Roughly 100+ students are interviewed during OCI, which are conducted by pairings of partners and associates from the firm. Each interview typically lasts 20 minutes. At this stage, candidates need to demonstrate their interest in Ashurst and what makes them stand out.

Callbacks 

Successful candidates receive an invitation to the second stage callback interviews within 48 hours of their OCI. The callback interviews usually take between two to three hours, and the candidate will meet with four attorneys (a mix of partners, senior associates, and junior associates). This stage is a chance to delve deeper into the topics discussed during OCI.

Summer program    

Ashurst's summer program lasts for ten weeks and starts with a firm-wide orientation. Throughout the program, summer associates will meet regularly as a class for training, professional development opportunities and social events.

Ashurst does not have a formal rotation program, so summers are free to sample work from various practice areas. All summer associates are assigned two mentors: one is an associate and the other is a supervising partner, who keeps an eye on summers' overall workload each week. Before the summer is over, summer associates rank their practice area preferences for when they return to the firm (the majority do return), although practice area assignment is largely determined by business need.    

 

Ashurst

Main areas of work
Our offices in New York and Los Angeles provide comprehensive legal services to US and global financial institutions and corporations.

Our US Projects team advises on all aspects of project financings in the US and coordinates closely with our offices in London, Sydney, Madrid, Paris, and Tokyo on delivery of world class market knowledge to our transactions. Our award-winning practice focuses on public-private partnerships (PPP) in all sectors including rail, road, airport, student accommodation, courthouses, water and waste and have worked on ground breaking transport and social infrastructure projects across the nation.

Our Global Loans practice is recognized by our clients within the industry to be one of the most innovative and solution orientated legal practices. We provide seamless coverage on a wide range of US and cross-border lending transactions, including leveraged and acquisition finance, corporate lending, lending to funds and lending to the insurance sector. We frequently provide advice to banks, financial institutions and funds who are themselves leading players in the market.

Our derivatives practice offers the full spectrum of transactional, advisory and documentation services for derivatives and structured products.

We have a market-leading, specialist team that advises leading investment banks and other financial institutions and covers the full spectrum of the derivatives area. Unlike many other firms, we have specialist lawyers focused on each area so our expertise encompasses all classes of OTC derivatives, repos, securities lending, repackagings, credit-linked notes and structured products. One of our great strengths is our ability to adapt and move from structuring one product to another quickly thanks to the versatility and depth of knowledge of our team. As a result, our clients are empowered to respond to changing market demands and enabled to release the most popular products in a short turnaround time.

Ashurst’s first class team of structured products attorneys offers substantial industry expertise, and provides transactional, and structuring advice to leading international banks. Our Structured Products team has extensive experience advising on all forms of structured products (including notes, warrants and certificates), together with structured bank deposits, and across all underlying asset classes and product structures. 

Firm profile
Ashurst is an elite global law firm with over 450 partners and a further 1,400 lawyers working in 28 offices across 16 countries. Unlike many other firms, infrastructure as an industry and an asset class is central to our global strategy and practice. We offer the international insight of a global network combined with local market expertise and knowledge.

Our vision is to be the most progressive global law firm. For us, ‘progressive’ is a mindset, an approach to how we do things. We instinctively take a fresh perspective on situations, exploring whether there are better ways of delivering practical, commercial solutions to the challenges our clients face in today’s rapidly changing business landscape. 

Recruitment
Law Schools attending for OCIs in 2022:
We recruit for Summer Associate positions through a resume collect. We post jobs at Columbia, NYU, Fordham, Stanford, Berkeley, UCLA and other top ranked schools.

Recruitment outside OCIs: We recruit for Summer Associate positions through a resume collect.

Summer associate profile: At Ashurst, we strive to provide a stimulating and rewarding experience for our summer associates. By working on top-quality transactions, it is our goal to present a realistic picture of life as a junior associate.

Summer associates will be exposed to multiple practice areas during the summer program, including, but not limited to Projects, Global Loans, Derivatives and Structured Products. Our summer associates will also have exposure to both US and global deals and partners.

Summer program components: We are looking for enthusiastic candidates who are eager to learn and grow with our US practice and offer competitive salary. This position is open to 2L students.

Social Media:
Website:
www.ashurst.com
LinkedIn: www.linkedin.com/company/ashurst

This Firm's Rankings in
USA Guide, 2024

Ranked Departments

    • Projects: PPP (Band 1)