Slaughter & May
The most profitable firm in the Magic Circle and the only one that operates as a traditional partnership
About Slaughter & May
Slaughter and May is one of the most distinctive firms in the Magic Circle. Unlike most major UK law firms which operate as LLPs, Slaughter and May remains a traditional general partnership and is not required to publish public financial accounts. Despite this, it is widely regarded as among the most profitable law firms in London. The Financial Times estimated the firm's profit per equity partner at approximately £4 million in 2024 — a figure that would place it ahead of its Magic Circle rivals and comparable to elite US firms.
Slaughter and May acts for more FTSE 350 companies than any other law firm and advises on significant international mandates involving over 140 countries annually — despite operating from only four offices. The firm's model is built on deep client relationships and a multi-specialist approach where lawyers develop broad expertise across several practice areas rather than specialising narrowly from day one
The firm offers approximately 95 training contracts each year across four six-month seat rotations. Almost all training contract offers come through the vacation scheme. International secondments are available to offices in Brussels, Hong Kong, and Beijing, as well as to partner firms in destinations including New York, Tokyo, Paris, and Sydney. The firm funds SQE preparation in full and provides a maintenance grant during the study period
Practice areas & rankings
In Chambers UK 2026, Slaughter and May achieved Band 1 rankings in Competition Law, Corporate Crime and Investigations, Corporate Finance Borrowers Big Ticket, Corporate/M&A £800 million and above, Financial Services Non-contentious Regulatory, and Tax. 97% of the firm's ranked practice areas either improved or maintained their rankings since 2025.
The firm also won the Pioneering Business Development Innovation award at the Legal Innovation and Technology Awards 2024 for its Client Innovation Network, and ranked 5th in the 2024 Social Mobility Employer Index
Corporate and M&A
This is the firm's defining practice. It acts for more FTSE 350 companies than any other law firm and is consistently ranked Band 1 by Chambers UK for the highest-value M&A transactions. The corporate team advises on landmark domestic and cross-border deals for blue-chip clients across every major sector.
Financing
A leading financing practice advising borrowers, lenders, and sponsors on acquisition finance, leveraged finance, project finance, and restructuring. The firm is ranked Band 1 by Chambers UK for Corporate Finance Borrowers Big Ticket, reflecting its strength advising major corporate borrowers on their most significant financing transactions.
Competition law
One of the top competition practices in the UK, ranked Band 1 by Chambers UK. Advises on merger control, cartel investigations, abuse of dominance, and regulatory matters for multinational clients across all major sectors.
Tax
A highly regarded tax practice ranked Band 1 by Chambers UK, advising on the tax dimensions of major corporate transactions, financing deals, and restructurings. The tax team works closely with the corporate and financing practices on complex multi-jurisdictional matters.
Disputes
A top-tier commercial litigation and arbitration practice handling high-value disputes for FTSE 100 companies, financial institutions, and governments. The firm has a strong track record in landmark cases with strategic commercial significance.
Firm History
1889 → William Slaughter and William May leave Ashurst to form their firm.
1889 → They open the first office at 18 Austin Friars.
1895 → May remarks in his diary that they have over 300 clients.
1930s → Advises more merchant banks than any other firm.
1974 → First city firm to establish a presence in Hong Kong.
1985 → Firm advises on many of Britain’s privatisations.
2002 → Offices moved to One Bunhill Row in London.
2007 → Firm expands to Brussels, Belgium.
2008 → Firm plays a key role in the financial crisis.
2009 → Opens an office in Beijing, China.
2015 → Represents more FTSE 100 clients than any other firm.
2015 → Partners earn highest PEP in UK.
2021 → Founding member of the Net Zero Lawyers Alliance.
2022 → Wins Corporate Team of the Year at The Lawyer Awards.
2023 → Becomes first major law firm to set social mobility targets.
2023 → The London office achieves 100% green electricity.
2024 → Named Employer of the Year at the Student Social Mobility Awards.
2024 → Launches solicitor apprenticeship scheme.
(please note these are highlights and the firm's history is far more complex)
The application process
Click on each stage to find out more.
The application process begins with an online form, where candidates are asked to provide personal details, a full breakdown of GCSEs, A-levels, and all university module results, including end-of-year averages. Applicants also upload a cover letter (maximum one A4 page, addressed to Janine Arnold, Head of Recruitment) and a CV (maximum two pages). The firm encourages candidates to explain any mitigating circumstances and to demonstrate their interest in commercial law through events, internships, or other experiences. Slaughter and May encourages applications as early as possible as interviews are scheduled on a rolling basis.
How to answer why youSlaughter & May: quick answers
How much does Slaughter & May pay trainees?
Slaughter & May pays first-year trainees £56,000, rising to £61,000 in the second year. Newly qualified solicitors at Slaughter & May earn £150,000.
When is the Slaughter & May vacation scheme deadline?
Slaughter & May's vacation scheme applications close on 4 Dec for the 2026/27 cycle. Deadlines can change and popular schemes may close early, so check the live application deadlines tracker.
How many trainees does Slaughter & May take on?
Slaughter & May takes on around 95 trainees in each intake, so places are competitive and strong applications matter.
What grades do you need to apply to Slaughter & May?
To apply to Slaughter & May you will generally need a 2:1+ degree. At A-level, Slaughter & May asks for 3 Good A-Levels. Requirements can flex where there are mitigating circumstances, so always check the firm's own criteria if your grades differ.
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