Baker McKenzie

Baker McKenzie is a US-headquartered law firm which, today, stands as one of the biggest law firms in the world (in both the headcount and revenue stakes).

A transactional powerhouse with serious cross-border clout, the firm’s story began in 1948, when Russell Baker and John McKenzie shared a chance taxi ride in Chicago. Just a year later, Baker McKenzie was founded.

Today, the firm has far outgrown its Chicago roots. It boasts 77 offices across 47 countries and calls itself “the original global law firm”. It’s actually the biggest US law firm by headcount overall, boasting more than 5,000 lawyers.

Bakers pioneered the Swiss verein model (same brand globally but no pooling of revenue or profits) in 2004 to accelerate its global expansion, paving the way for similarly vast firms like Dentons and DLA Piper to follow suit. The firm says that more than 65% of its deals span multiple jurisdictions, making it a dominant force in cross-border M&A.

London has been central to Bakers’ rise. It landed in the City in 1961, making it one of the first US law firms in London to do so. Today, the London office is the firm’s largest, with over 500 lawyers.

The office is a leading name in corporate/M&A, private equity, banking and finance, capital markets and - most notably - TMT where it's considered a go-to adviser.

Growth is the game plan. In the five years up to the end of 2023, the London office made 21 lateral hires in corporate alone, poaching talent from the likes of Linklaters, A&O Shearman and Orrick. Its transactional practice is thriving, with private equity a major focus.

The office is on the up too. In October 2023, Bakers moved into its new London HQ at 280 Bishopsgate. Think open plan, flexible workspaces, rooftop terraces and eco-friendly design. Green spaces and modern facilities add to the appeal.

The expansion reflects the firm’s commitment to staying on the front foot globally.

Revenues today stand at $3.3 billion - making it a top 5 player worldwide - while back in 2014, it became the first law firm to break the $2.5 billion revenue mark. Today, it remains one of the biggest names in the legal world, with few signs of slowing down.

Other things to know

Swiss Verein Pioneer: We touched on it above, but Baker McKenzie was the the first major law firm to adopt the Swiss verein structure in 2004, allowing for a decentralised network of member firms sharing a brand while maintaining legal and financial independence. For more information about law firm structures, see our guide on how big law firms work.

Secondments: International secondments are most definitely on the table at Baker McKenzie thanks to its vast global footprint. All trainees have the opportunity to apply for a three-to-six month secondment at one of Bakers’ international offices, or with one of the firm’s clients’ in-house legal teams.

What is Baker McKenzie Known for?

Baker McKenzie is a full service corporate law firm. In the UK market, it is probably best known for its expertise in the following areas:

Private Equity: Bakers has a leading private equity practice, with notable pedigree on mid-market deals. It regularly advises private equity sponsors and is especially known for its work on tech transactions. It has a Band 2 ranking by Chambers for mid-market work.

Banking and Finance: Bakers has a highly-regarded banking practice on both the borrower side - where it has a Band 3 ranking by Chambers - and the lender side - which gets a Band 2 ranking by Chambers.

Capital Markets: Bakers is strong across equity and debt capital markets, including in more specialist areas like securitisation. It has strong Chambers’ rankings across all three practice areas.

Technology, Media and Telecoms (TMT): One of its strongest cards, Bakers is a go-to adviser across the telecommunications, media and technology sectors. It advises many of the biggest names in those areas. It’s highly ranked by Chambers across the specialisms - with notable Band 1 rankings for its telecommunications practice and IT practice.

What's Chambers?

We use Chambers rankings to demonstrate a firm's strengths. Chambers is the most highly-regarded provider of law firm rankings in the legal industry. Law firms are ranked in bands from 1 (highest) to 6 (lowest) across a range of practice areas.

It's important to note that being ranked in any band at all is still considered a significant achievement.

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Who does Baker McKenzie compete with?

Bakers is considered a top-tier law firm with big clout globally thanks to its network of international offices.

It can't match the reputation and prestige of the elite US firms (think Latham, Sidley, Kirkland) or the Magic Circle - its profitability has also historically been notably lower than the elite (something it's working hard to address) - but it's a leading player in several of the practice areas it specialises in - like TMT, for example.

In 2023, Baker McKenzie’s global revenue was $3.3 billion.

Baker McKenzie does not publicly release its profit per equity partner (PEP), but it was estimated by ALM / Law.com to be $2 million in 2023.

How much does a partner at Baker McKenzie make?

In 2023, Baker McKenzie’s profit per equity partner (PEP) was estimated to be $2 million.

This is the total amount of profit available for distribution among equity partners, divided by the number of equity partners at the firm.

This represents the average amount that equity partners are entitled to. Some will receive significantly more, some less. It depends on the firm’s profit-sharing formula and each partner’s seniority.

How many trainees does Baker McKenzie take?

Baker McKenzie typically takes around 40 trainees per year. Trainees complete four seats in different departments, each lasting six months.