
Marcus Lovatt - Trainee
History, University of Nottingham
I studied History at Nottingham but being truthful didn’t know which career path to pursue. My approach was to undertake various work placements to get a feel for different working environments. A career in the legal sector was always on my radar as it’s seen as a classic transition from studying History. I embarked on the rigorous process of reviewing a whole host of law firms before applying for vacation schemes. From the masses I selected a handful of firms which I perceived suited my interests and career outlook.
DLA Piper ticked most of the boxes. I was looking for a firm with a strong international presence as I have always enjoyed travelling and harbour an ambition of working abroad at some stage in the future. The rapidly developing nature of DLA Piper was also a key selling point. It was clear to see the progress that the firm has made over the past two decades from its roots in Sheffield. It was an exciting prospect to be a part of such a dynamic and ambitious organisation.
I’ve undertaken two seats to date. My first was in structured finance which I found hugely enjoyable due to the fast paced, high profile work that the group carries out. I’m currently in my final weeks in the restructuring department before heading off to UBS on a client secondment. I’m truly excited about going out on secondment but would be lying if I said I wasn’t apprehensive about entering into an environment which will be totally different to my first year at the firm. It will be the chance to see work from the client’s point of view and build contacts. Hopefully I’ll play a small part in further strengthening the ties between our two organisations.
One element that has taken me by surprise is the breadth of commercial knowledge that we as lawyers are expected to possess. You have to have the ability to see the transaction from the client's perspective and understand the rationale for their business decisions. This involves having a detailed knowledge of the wider market within which our clients operate. Obviously everyone moves into niche areas eventually but a general commercial and market awareness is vital.
From the very start I’ve been given the chance to deal directly with clients. It escalates the learning process when you’re able to put into practice our years of studying. There’s nothing better in this job than being thanked by your client for doing an impressive job.
It’s all about being thrown in at the deep end so that people can gauge how well equipped you are to deal with the pressure of any given situation. Saying that, if you feel you are out of your depth there is the support network there to bounce ideas off and make sure your work is the right standard before it’s sent out.
In my experience, it is not a life of leaving the office at 5.30 pm every night. We do work hard but that’s the case with most professions across the city. Our eyes were open to it when we went into the profession and you’ve got be able to deal with the long hours. I think being a corporate lawyer attracts a certain breed of people. Personally I’m at my best when under pressure to meet deadlines, whether that involves working through the night or not. The buzz you get when a deal closes and the right result has been achieved, is awesome.
Saying that, you come to learn that there isn’t such a thing as face time and the hours do vary from department to department. When you’re not busy, no-one expects you to hang around for the sake of it. That’s important and allows you to redress the work-life balance.
There’s definitely an ethos of work hard play hard, which suits me down to the ground. However your week has played out, it’s a great feeling to know that you’ve earned a drink on a Friday night. The great thing is that out of the 25 or so trainees in my year in London, many of us meet up regularly. Having a good social scene is really important because we all understand the process we’re going through and it’s good to be able to share in the highs (and occasional lows). I’ve made some great friends so far, not just with trainees but also with other lawyers. I think it’s hard not to with so many like-minded people around.
I recently spent a day at a local school in Highbury running a career development session with a number of other colleagues. We talked to over 200 students about how to progress on the career path, how best to prepare for interviews and about the importance of having a strong CV. It was very rewarding and good to feel like you’ve given something back.
The ambition is there in me to become a partner, but then I imagine most would admit to sharing this vision. A firm like DLA Piper aspires to be the best and has created an environment within which you want to succeed for yourself and the firm. I’ll do everything I can to progress and make the most out of the opportunity I’ve been given.