Revenue:Revenue of £1.36 billion for the 2024/25 financial year, up 4% year-on-year. Net profit rose 9.5% to £486.9 million. PEP hit a record £1.4 million, up 8.6%.
The results mark twelve consecutive years of revenue growth for the firm.
The combined post-merger entity carries revenues exceeding $2.7 billion, making it a genuine global top 20 player by this measure. PEP at the merged firm will depend on integration of the two profit pools, with legacy Kramer Levin having a notably higher PEP ($3 million) than legacy HSF — a dynamic the firm will need to manage carefully through the integration period.
NQ Salary:London NQ salary is £145,000 (effective 1 July 2025), with trainee salaries of £56,000 in year one and £61,000 in year two. Hsfkramer The £145,000 NQ rate puts HSF Kramer ahead of Ashurst and Hogan Lovells, and just below the Magic Circle benchmark of £150,000.
Full SQE fees are paid or reimbursed, with a £20,000 maintenance grant. US associates at the Kramer Levin legacy offices are paid on the Cravath scale, ranging from $225,000 (year one) to $435,000 (year nine).
Global Spread / Office Footprint:26 offices across every major region, including 2,700 lawyers and around 630 partners.
US presence through New York, Washington DC and Silicon Valley. Herbert Smith Freehills Kramer UK and Europe: London, Belfast, Brussels, Düsseldorf, Frankfurt, Madrid, Milan and Paris. Middle East: Dubai, Riyadh. Asia: Hong Kong, Beijing, Shanghai, Singapore, Seoul, Tokyo, Bangkok. Australia: Sydney, Melbourne, Perth, Brisbane.
The firm is the largest fully integrated law firm in Asia-Pacific Chambers and Partners — a position built over more than a decade following the original Herbert Smith/Freehills combination — and a major player in every significant legal market outside North America. The Kramer Levin merger finally delivers the US anchor the firm had long sought.
Prestige / Market Tier:Silver Circle
Practice Area Power Ranking:tier-1
Tier 1 Strengths: The most prestigious international firm outside the Magic Circle in the London market, and a dominant player across Asia-Pacific and Europe. HSF Kramer is among the top 10 biggest law firms in the UK by revenue and regarded as the most prestigious firm outside the Magic Circle.
Associate Salary Progression
Tier:Tier 1 – Top Market
Culture / Work Environment
Snapshot:HSF Kramer's culture is defined above all by its disputes identity — this is a firm where contentious work is not a secondary practice to be tolerated alongside transactional work, but a central pillar of strategic self-image. The firm describes itself as combining "unrivalled scale and depth in disputes and transactions," with a clear focus on "tackling the issues shaping clients' futures." Herbert Smith Freehills Kramer
The working environment is demanding but balanced by the genuine quality and complexity of the work — partners and associates at HSF frequently describe a culture that is collegial and collaborative rather than intensely competitive internally.
The merger with Kramer Levin represents a significant cultural integration challenge — bringing together a London-centric, Asia-Pacific-heavy international firm with a New York-centric, tightly-knit boutique.
How that integration settles will be one of the defining stories of the next few years in international law. For trainees and associates joining now, the upside is access to a genuinely global platform at a moment of considerable strategic ambition and momentum.
Last Updated: March 24, 2026
