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McDermott Will & Schulte
A US firm renamed after the 2025 Schulte merger, Band 1 nationally for private healthcare and hedge funds, recruiting directly with no vacation scheme
About McDermott Will & Schulte
McDermott Will & Schulte is an international US law firm formed on 1 August 2025 through the merger of McDermott Will & Emery and Schulte Roth & Zabel. The combination brought together McDermott's established strengths in healthcare, corporate transactions, finance and litigation with Schulte's specialist expertise in hedge funds, investment management and private capital. The merged firm operates across more than 20 offices worldwide, with over 1,750 lawyers advising financial institutions, investment managers, private equity sponsors, multinational corporations and healthcare businesses. Its London office is an important part of the firm's international platform, providing advice on private equity transactions, leveraged finance, investment funds, restructuring and commercial disputes. The merger significantly expanded its private capital capabilities, particularly in hedge fund formation and investment management. Unlike firms whose London practices concentrate primarily on corporate M&A, McDermott Will & Schulte combines transactional expertise with specialist investment funds, healthcare and regulatory practices, allowing lawyers to advise clients throughout the investment lifecycle.
McDermott Will & Schulte recruits approximately eight trainees annually into a two-year London training contract comprising four six-month seats. Three seats are compulsory: Corporate/Private Equity, Leveraged Finance and Litigation, with trainees able to express preferences for their remaining rotation. The programme provides experience across transactional and contentious work, reflecting the firm's principal London practice areas. First-seat allocations are made without trainee preferences, while subsequent rotations involve discussions about individual interests and development goals. Trainees are also encouraged to assist other departments when opportunities arise, allowing them to broaden their experience beyond their allocated seat. The relatively small trainee intake provides opportunities to work directly with partners and associates, with trainees undertaking substantive drafting, research and transaction management tasks. Each trainee receives supervision throughout their rotations, alongside formal mid-seat and end-of-seat performance reviews. The firm has not confirmed a guaranteed international or client secondment programme for its London trainees.
McDermott Will & Schulte covers the cost of its future trainees' SQE preparation programme at BPP University, including SQE examination fees. Successful applicants for the September 2028 training contract intake begin a year of full-time SQE preparation in September 2027, receiving an annual £20,000 maintenance stipend during their studies. Non-law graduates must complete an appropriate law conversion course before starting the SQE programme, although the current recruitment information does not confirm whether the firm separately funds that course. During the training contract, trainees benefit from structured professional development, direct supervision and opportunities to participate in firmwide networking and mentoring activities. The firm's approach to training emphasises learning through practical experience, with junior lawyers encouraged to take responsibility for matters while receiving support from more experienced colleagues.
Practice areas & rankings
In the 2026 edition of Chambers UK, McDermott Will & Schulte received nine practice area rankings and 24 individual lawyer recognitions, reflecting its combined strengths following the merger. The firm achieved Band 1 rankings for Investment Funds: Hedge Funds and Healthcare: Private Sector, alongside Band 2 recognition for Leveraged Finance: Lenders: Mid-Market and Shareholder Activism: Activist Representation. Its Leveraged Finance: Borrowers/Sponsors: Mid-Market practice received a Band 3 ranking, while its Private Equity: Buyouts: Up to £500 Million practice was ranked Band 4. The firm also received recognition for restructuring, tax and private equity fund formation. These results highlight its position in the hedge funds market and its growing presence in mid-market private capital transactions, supported by specialist financing and regulatory capabilities.
McDermott Will & Schulte's performance was also recognised in The Legal 500 UK 2026, where the firm received 23 practice area rankings and more than 60 lawyer recommendations. Its hedge funds practice achieved Tier 1 recognition, while its securitisation, commercial property investment and investment-grade lending practices improved their positions. The firm also received a new ranking for oil and gas. These results were published shortly after the merger and demonstrate the breadth of the combined London practice. At an international level, McDermott has received recognition for its approach to innovation and professional development, including recognition from the Financial Times for legal innovation. However, these rankings and recognitions should be distinguished from awards won specifically by the London office.
Ranked departmentsChambers UK
Explore the practice areas
Investment funds is one of McDermott Will & Schulte's defining strengths, with the firm ranked Band 1 for Investment Funds: Hedge Funds in Chambers UK 2026. The practice advises hedge fund managers, alternative investment firms and institutional investors on fund formation, investment structures and regulatory matters. Its lawyers have particular expertise in launching funds for emerging managers, alongside advising established investment businesses on increasingly complex structures. The team's work includes negotiating fund documentation, establishing investment vehicles and advising on compliance requirements affecting fund managers operating internationally. The practice benefits significantly from Schulte Roth & Zabel's longstanding position in the hedge funds market, particularly its relationships with investment managers and prime brokerage institutions. Its integrated US and UK capabilities allow lawyers to advise clients establishing funds and conducting investment activities across multiple jurisdictions.
McDermott Will & Schulte's healthcare practice is ranked Band 1 for Healthcare: Private Sector in Chambers UK 2026, reflecting its specialist expertise in transactions and regulatory matters affecting healthcare businesses. The team advises healthcare providers, investors and technology companies on acquisitions, joint ventures, financing arrangements and commercial agreements. Its work includes advising on corporate governance, employment, data protection and regulatory requirements affecting healthcare organisations. The firm's international healthcare capabilities are particularly relevant to clients operating across the UK and US, where differences in regulation and market structures create additional legal complexity. The practice also advises businesses developing digital health technologies, including diagnostic and medical imaging products. Its healthcare expertise supports private equity sponsors and other investors seeking opportunities in healthcare services and technology.
McDermott Will & Schulte's leveraged finance practice is ranked Band 2 for Leveraged Finance: Lenders: Mid-Market and Band 3 for Leveraged Finance: Borrowers/Sponsors: Mid-Market in Chambers UK 2026. The team advises banks, private credit providers, private equity sponsors and corporate borrowers on financing arrangements supporting acquisitions, refinancing transactions and corporate investments. Its work frequently involves negotiating debt facilities, security arrangements and financing structures for private equity-backed businesses. The practice benefits from its close relationship with the firm's corporate and private equity teams, allowing lawyers to advise on the financing aspects of transactions from initial structuring through to completion. The firm's combined expertise in private capital and finance is particularly relevant to clients operating in the mid-market, where alternative lenders and private credit funds play an increasingly important role.
McDermott Will & Schulte's private equity practice is ranked Band 4 for Private Equity: Buyouts: Up to £500 Million in Chambers UK 2026. The team advises private equity sponsors, investment managers and portfolio companies on acquisitions, disposals, leveraged buyouts and strategic investments. Its lawyers regularly work on cross-border transactions involving the firm's European and US offices, with particular experience in healthcare, life sciences, real estate and infrastructure. The practice supports clients throughout the investment lifecycle, including initial acquisitions, portfolio company reorganisations and eventual exits. Its transactional capabilities are complemented by specialist advice on leveraged finance, tax and investment funds, allowing clients to obtain coordinated advice on the commercial and regulatory aspects of their investments. The firm's expanded private capital platform following the 2025 merger further strengthens its ability to advise investment managers on both fund formation and underlying transactions.
McDermott Will & Schulte's restructuring practice is ranked Band 5 for Restructuring/Insolvency in London in Chambers UK 2026. The team advises distressed companies, lenders, creditors and insolvency practitioners on complex financial restructurings and insolvency proceedings. Its work includes negotiating debt restructuring arrangements, advising on distressed investments and managing disputes arising from financial difficulties. The practice has experience acting for both debtor-side and creditor-side clients, allowing lawyers to approach restructuring negotiations from different commercial perspectives. Its international network supports cross-border matters involving businesses and financial obligations across multiple jurisdictions. Partners Adrian Cohen, Alex Wood and Mark Fennessy are individually recognised in Chambers UK 2026, reflecting the team's established experience in contentious and non-contentious restructuring work.
The application process
Click on each stage to find out more.
McDermott Will & Schulte is currently recruiting for its September 2028 London training contract intake, with applications closing on 6 November 2026. Successful candidates begin a year of full-time SQE preparation at BPP University in September 2027 before joining the firm in September 2028. The firm has confirmed that assessment days will take place in February or March 2027. Unlike US firms that recruit exclusively through vacation schemes, McDermott Will & Schulte is advertising a direct training contract opportunity for this intake. The firm welcomes applications from law and non-law candidates, although non-law graduates must complete a law conversion course before starting the SQE programme. Candidates begin by submitting an online application through McDermott Will & Schulte's graduate recruitment portal. The firm has not publicly confirmed the exact written questions, word limits or supporting documents required for the September 2028 intake. Applicants should demonstrate a clear understanding of the firm's London practice, particularly its strengths in private equity, investment funds, leveraged finance and commercial disputes. The 2025 merger provides an important opportunity to demonstrate firm-specific research, as candidates can explain how the combination of McDermott's international platform and Schulte's investment management expertise has strengthened its private capital offering. The firm emphasises intellectual curiosity, initiative and a willingness to take responsibility, making it important for applicants to provide specific examples of these qualities through their academic, professional and extracurricular experiences.
How to answer why youMcDermott Will & Schulte: quick answers
How much does McDermott Will & Schulte pay trainees?
McDermott Will & Schulte pays first-year trainees £65,000, rising to £70,000 in the second year. Newly qualified solicitors at McDermott Will & Schulte earn £179,000.
How many trainees does McDermott Will & Schulte take on?
McDermott Will & Schulte takes on around 8 trainees in each intake, so places are competitive and strong applications matter.
What tests does McDermott Will & Schulte use in its applications?
McDermott Will & Schulte has not publicly confirmed a standalone psychometric testing stage for its September 2028 London training contract recruitment process. There is no verified requirement to complete the Watson Glaser Critical Thinking Appraisal, numerical reasoning tests or situational judgement assessments. The firm's recruitment announcement identifies an online application followed by assessment days in February or March 2027, but does not specify whether additional online testing takes place between these stages. Applicants should therefore follow the instructions provided by the graduate recruitment team rather than assume that a particular psychometric assessment will be required.
What grades do you need to apply to McDermott Will & Schulte?
To apply to McDermott Will & Schulte you will generally need a 2:1+ degree. At A-level, McDermott Will & Schulte asks for AAB. Requirements can flex where there are mitigating circumstances, so always check the firm's own criteria if your grades differ.
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