E.g. Freshfields Bruckhaus Deringer. Statistically speaking, lawyers at the top firms are most commonly from Oxbridge and other Russell Group universities. [1] Generally, the Magic Circle firms have among the highest earnings-per-partner and earnings-per-lawyer of UK-headquartered law firms. LLM? Any universities missing didn't produce strong enough data. But the highest salaries in the business and top-notch commercial work also demand stamina and an appetite for long hours and hard work, more than any other city. In essence, the silver circle refers to the band of firms that fall just . Clearly some universities will give you an advantage, but its worth remembering that there are three main variables to anyones employability: the value of your education; your personal experience; and your character. This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. This year also saw Allen & Overy overtake Clifford Chance in the number of rankings the firm itself holds, aided in part through the expansion of the USA Guide's Capital Markets and Projects rankings in the 2021 edition of the USA Guide. Scared about job prospects at Leicester uni. Their elite status in a competitive industry comes from various factors, including their client base, their revenue per lawyer, their revenue per partner and the number of lawyers they have working for them. TSR Decisions Drop In 17th April - 5th May. Hi all, After doing some research on the percentage of students from different universities at. Here, we break down the facts. This page was last edited on 19 January 2023, at 22:04. What universities do Magic Circle Firms recruit from? It's the full package that recruiters are after: the more you prove you can offer that, the less your university will matter. Read one of these interviews with Magic Circle employees! Can you do anything with a 2:1 in Oxford law? The International Business law firms comprise CMS; Ashurst; Baker McKenzie; DLA Piper; Hogan Lovells; Jones Day; King & Wood Mallesons and Norton Rose Fulbright. Sign up to our regular updates! With the exception of Slaughter and May, which closed its New York base in 2004 and eschews international offices beyond its Brussels, Beijing and Hong Kong locations, all four remaining Magic Circle firms are rapidly emerging as major competitors in the US, each boasting an increasing number of elite, Chambers-ranked attorneys across a diverse range of practice areas. Freshfields and Allen & Overy now boast similar numbers of ranked partners to Clifford Chance, whose historic focus on the US market, including its merger with New York-based Rogers & Wells in 2000, had seen it edge ahead of its compatriots in the Magic Circle. Recruiters will overlook you in favour of those who've been on it and performed well no matter what university they've attended. Quiz now! But the highest salaries in the business and top-notch commercial work also demand stamina and an appetite for long hours and hard work more than any other city in Europe. Although Oxbridge students make up less than 1% of each years graduating class, they made up a whopping 15.4% of all our trainee lawyer interviewees. As an aspiring solicitor, its likely that youll need to study a course with a leading law school in the not-too-distant future. Clifford Turner advised on the creation of John Lewis Partnership in 1929; Became the first major non-US firm to practice US law; In 2000, became the worlds first global law firm with the tripartite merger with Germanys Punder Volhard Weber & Axter and New Yorks Rogers & Wells. To help you make an informed decision, wed like to put you in touch with our partner law schools. Can you do anything with a 2:1 in Oxford law? The research shows 76 per cent of trainee lawyers at the UKs leading 139 law firms are Oxbridge and Russell Group graduates. It was argued that by 2023 global law firms will rather be split between the Global Elite law firms, International Business law firms and Super Boutique law firms. This cookie is installed by Google Analytics. Oxbridge grads make up a quarter of London trainees and a fifth of all trainees. This allowed other Russell Group universities to ascend the charts: note Durham is no longer the top of the Russell Group outside the capital, giving way to Manchester. This cookies is set by Youtube and is used to track the views of embedded videos. The Magic Circle includes Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters and Slaughter and May. The number of universities that trainees hailed from was up by 14% compared to our last report three years ago. For example, Leicester runs a very well-regarded law degree, and so has a strong showing. The lesser-used silver circle tag which has arguably been rendered almost meaningless by the multiple mergers of the last few years as a host of global megafirms have been created includes Herbert Smith Freehills, Ashurst, Berwin Leighton Paisner, King & Wood Mallesons, Macfarlanes and Travers Smith. How does a non-law graduate prepare for the SQE exams? Those winning a hotly contested training contract at a Magic Circle firm can expect to be richly rewarded, with all five firms increasing compensation for newly qualified lawyers to over 100,000 this summer. Initially, the Magic Circle's membership was described by commentators as comprising the UK firms with strong corporate practices or international work. There were over 107 UK universities mentioned in our data from 2010-2018. This cookie can only be read from the domain they are set on and will not track any data while browsing through other sites. 5 Types of City Law Firms You Need to Know | The Lawyer Portal You can accept or reject cookies which are not essential for the site to work by clicking on the Cookie settings below. . So this analysis isnt definitive, but our sample size is significant and indicative of broad recruitment trends. Just take a look at our table below: What do they look for in Allen & Overy training contract candidates? I assume this is because the stats didn't take into account the yearly law intake for each uni, which is quite low for LSE. While Magic Circle firms have long been considered fixtures of the US legal market since opening their doors in New York almost half a century ago, the recent glut of hiring and lateral expansion can be seen as an acceleration of these firms' attempts to crack the US market in a much bigger and more eye-catching way. Could someone read this and share their thoughts and corrections? Sal Francis Morton, senior research analyst at Chambers Student Guide, said: Law firms lock their gaze on graduates from these prestigious universities, knowing they dont have to look far for the brightest and most driven candidates. These are the Magic Circle law firms: Allen & Overy. They are way more likely to make it to the top of such firms than graduates of Newcastle, Liverpool, Cardiff, Queens Belfast and Queen Mary University of London, which each account for just 1% of Russell Group partners. How suitable are you and what do recruiters want? I dont think its going to gain power or momentum and I dont think its a strengthening brand in itself." Read our comprehensive guide on Training Contracts. Oxford supplied the most trainee lawyers in 2016-18, with Cambridge in second place, followed by Bristol, Durham, Nottingham, Exeter and Warwick. Durham has taken a slide too. The university superduo dominated the US and magic circle firms in particular: 24% of all US firm trainees and 31% of all magic circle trainees hailed from an Oxbridge undergrad background. Sheikh Jassim aims to win Manchester United takeover battle with extra $1bn, Printworks: London nightlife venue to become offices as new plans revealed, UK to avoid recession but inflation wont return to Bank of England target until end of next year, Bomb like devices planted in Englands legal heartland amid 1m court wrangle with a top lawyer, Russian tycoons ex criticised by London judge for costly and destructive divorce fight with 9m bill, Bitcoin inventor court proceedings dropped in London as judge says its no longer in public interest, No firms charged with failure to prevent tax evasion in 6 years heres why. Applying for Clifford Chance's Training Contract [2023] - WikiJob Here are the results. This cookies is installed by Google Universal Analytics to throttle the request rate to limit the colllection of data on high traffic sites. 1. The West Coast office launches, which mark the first venture into California by a member of the Magic Circle since Clifford Chance shuttered its 5-year old offices in 2007, reversed a recent trend in the London market, where expansive US-headquartered firms . You can find all of the answers to these questions using our free guide start reading below! It is also worth pointing out that different firms have different strengths, and thus do not all need the same type of candidate. They can give you all the details you need about course fees, funding options and more. The further down you go, the more erratic it becomes. Does it matter which university you go to for law? And the mix was refreshingly eclectic: one of our interviewees had originally trained as a vet at the Royal Veterinary College; another was a musician who'd earned a degree at Trinity College of Music; and a couple had explored their artistic interests at the Courtauld Institute. Another ray of hope: law firms are beginning to show that they're less obsessed with university name and grades. Below are the 30 universities that were most frequently cited. This survey gives the real story on entry requirements. [1], The Silver Circle is an informal term for perceived elite corporate law firms headquartered in the United Kingdom that are the main competitors for the Magic Circle in the United Kingdom. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. For most firms, a 2:1 is the standard academic expectation, but neither the degree title or the university you obtain the degree from is specified. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Russell Group universities outside Oxbridge made up 46.7 per cent of Magic Circle trainees, 13.1 per cent came from other UK institutions and 8.8 per cent were educated overseas. For example, Manchester and Nottinghams undergrad enrolments are much higher than that of St Andrews. In nine years, law firms appetite for Oxbridge and Russell Group students has remained pretty much constant. It is worth doing some research to see if this is an option for you. One of my distant relatives is a director at one of the Magic Circle Law Firms, however I am yet to contact them regarding it. The ANONCHK cookie, set by Bing, is used to store a user's session ID and also verify the clicks from ads on the Bing search engine. You'll notice that the Midlands and Northern-based Russell Group universities did particularly well here. This will skew the results in favour of the larger institutions. Do firms look at your university during the application process? In 1920, Linklater & Co merged with Paines Plythe & Huxtable, a firm that had been founded by a descendent of one of the founding fathers of the United States, Thomas Paine. Don't get lazy and assume you've made it: the name of your university is not an elixir that will impel recruiters to hand you a training contract. This domain of this cookie is owned by Vimeo. Clifford Chance. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. Has the Magic Circle Lost Its Magic? | The American Lawyer (Part 2), Shared bathrooms student accommodation Southampton. The range of universities feeding the market grew by 14% in three years. Submit. Oxfords graduates earned an average 71,120, Kings College London graduates 74,512, University College London graduates 72,814 and Cambridge graduates 72,457. This cookie is set by doubleclick.net. London is a global legal hub only rivalled by New York. This information is used to compile report and improve site. Below is a chart of the top 20 most common universities that cropped up in our research over the past nine years. However, entry into the Magic Circle is . This cookie is a browser ID cookie set by Linked share Buttons and ad tags. idk01. The cookie is used to store the user consent for the cookies in the category "Analytics". BTEC Business Unit 6 (Principles or Management) May 2nd Resit (2023), Which poems from love and relationships should i memorise? Law firms' preferred universities - Chambers Student Guide The remaining Russell Group universities were also represented strongly, while interviewees from other UK universities were comparatively low. It seems to be a term to describe the leading City firms and there is some truth in it. This survey doesnt account for the numbers graduating from each institution. As firms recruit on a case to case basis, and are keen to make entering law as accessible as possible, the . Furthermore, given some suggestions that Clifford Chance and Linklaters will follow their compatriots' lead in stateside expansion, alongside the novel options for local hiring and remote work in the post-pandemic world, it appears that this trend will only continue going forwards. Copyright The Student Room 2023 all rights reserved. The cookies is used to store the user consent for the cookies in the category "Necessary". Throughout your education each of these three elements will develop the other two its what employers mean by well-rounded. It shows that a whopping 44% of partners at firms in the magic and silver circle attended Oxbridge, while 34% went to one of the 22 other Russell Group universities, and 22% graduated from a non-Russell Group uni. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. The range of universities feeding the market grew by 14% in three years. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. City firms are either more selective, or targeted more heavily by Russell Group students. Contrary to what the term Silver Circle may suggest, there is no Golden Circle. Magic circle law firm Clifford Chance has appointed The University of Law (ULaw) to help prepare its future trainees to sit the Solicitors Qualifying Exam (SQE), it confirmed today. The Times, historically the newspaper best-read among members of the legal profession, reports today that Macfarlanes has become the first City law firm outside the so-called Magic Circle to pay . The coloured arrows indicate rises or falls compared to our 2012 survey. This cookie is set by LinkedIn and used for routing. It's mainly something that comes up when we talk to journalists or they talk to us. So dont fret if youre at a uni outside the RG there were fewer training contract applicants. At some of the biggest and most prestigious firms in London seemingly the preserve of the university elite we encountered trainees with degrees from non-traditional institutions like Brunel, Keele and Hertfordshire. Bristol and Exeter took the lead in the South West; Nottingham and Birmingham in the Midlands; Newcastle and Durham in the North East; and Liverpool in the North West. What do they look for in Freshfields training contract candidates? From Jamaica to Australia, from Brazil to Ukraine: our interviewees in this category came from all over the world. Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin. Some firms may specify a strong 2:1, which is generally seen as achieving between 65-70%. End of the road: Why More Than will no longer sell car insurance as insurer RSA quits market, Could fixing workplace stress save the UK 28bn a year?
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