They are the five UK-based firms considered to be amongst the most prestigious in the world. It is also worth pointing out that different firms have different strengths, and thus do not all need the same type of candidate. Guys, do you prefer to be called hot or handsome? Its up there with correcting your friends pronunciation of quinoa or pretending youve never heard of Lidl producing a ranking of lawyers favourite universities is an expression of middle class Britain par excellence. US law firms in London drew 24.4 per cent of their trainees from Oxbridge, with 50 per cent coming from the rest of the Russell Group, 16.5 per cent coming from other UK institutions and nine per cent coming from overseas. It argued that Clifford Chances profitability does not match the other Magic Circle firms, and that Slaughter and May operates a different (UK-focused) model, with revenue less than half of the other Magic Circle firms. Non-city firms are pulling in trainees from a wider array of universities. LLM? idk01. Axa warns burnout is burning a hole the economy, From cow herder to corporate chief meet the man who leads Axas City division. How does a non-law graduate prepare for the SQE exams? 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. In the world of Commercial Law, you will often hear talk of 'Magic Circle' firms. Eight musts for training contract applications, How to succeed at interviews and assessment days, True confessions of a training contract applicant. US is pretty obvious except in cases where there was a transatlantic merger; wed still consider Hogan Lovells, NRF and BCLP City firms because of their strong London origins. The firm has 570 partners and over 6,000 staff. Sign up to our regular updates! from the 139 firms featured in our guide since 2010. Advised on the first hostile takeover in the City of London; Arranged the first Eurobond in the 1960s; Introduced one of the first schemes to allow full equity partners to work part-time; First global law firm to open an office in Morocco; The only law firm to be named the most innovative in Europe by the Financial Times 3 times. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. For example, Leicester runs a very well-regarded law degree, and so has a strong showing. 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. In this portion of the London market, we began to see a little more variety: fewer Oxbridge graduates, more from the remaining Russell Group members and a stronger showing from other UK universities. This cookie is set by doubleclick.net. With this mass of responses we crunched the numbers to reveal which universities funnel the most trainees into the market and what segment of the market. The cookie is used to store and identify a users' unique session ID for the purpose of managing user session on the website. BTEC Business Unit 6 (Principles or Management) May 2nd Resit (2023), Which poems from love and relationships should i memorise? If you mill about for three years, get poor grades and put no thought into your future legal career, then don't expect a flood of training contract offers. 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 . In the past three years we've asked 2,300 trainees at 124 firms which university they went to. We wouldnt recommend making life choices based only on these figures, though. In all, 83 UK universities were represented in our sample an encouraging 14% increase on the total in ourprevious 2012 report, signalling attempts to attract more diverse candidates. You'll notice that the Midlands and Northern-based Russell Group universities did particularly well here. [1] Generally, the Magic Circle firms have among the highest earnings-per-partner and earnings-per-lawyer of UK-headquartered law firms. [12] These firms have a lower turnover than the members of the Magic Circle, but consistently have an average profits per equity partner (PEP) and average revenue per lawyer (RPL) far above the UK average[13][14][15] (and, in some instances, higher than members of the Magic Circle). Analytical cookies are used to understand how visitors interact with the website. We caught up with Siobhan, TLP Ambassador for the University of St Andrews, who was lucky enough to secure a summer internship with Magic Circle law firm Allen & Overy in their Abu Dhabi office! Almost a third of lawyers at the UK's elite Magic Circle law firms attended Oxford or Cambridge universities, new data published today shows. To grasp these nuances, let's take a closer look at these distinct areas. If you're currently studying at a non-Russell Group university, do not be discouraged by this report. Prestigious 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. It seems to be a term to describe the leading City firms and there is some truth in it. The prestige, the career opportunities, the money and the city itself combine to attract the brightest, hungriest and most gumptious graduates. 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. 806 8067 22 Registered Office: Imperial House, 2nd Floor, 40-42 Queens Road, Brighton, East Sussex, BN1 3XB, Taking a break or withdrawing from your course, https://www.thebridgegroup.org.uk/research, https://www.chambersstudent.co.uk/law-firms/getting-a-training-contract/application-and-selection-criteria, https://www.chambersstudent.co.uk/where-to-start/newsletter/law-firms-preferred-universities-2019, https://static1.squarespace.com/static/5c18e090b40b9d6b43b093d8/t/5f0c68f926542b69be151b46/1594648828775/Admissions+to+law+schools+report+final.pdf, https://www.aograduate.com/virtual-campus-2020, https://www.chambersstudent.co.uk/where-to-start/newsletter/law-firms-preferred-universities, Is it even worth me applying to magic circle law firms. You can accept or reject cookies which are not essential for the site to work by clicking on the Cookie settings below. Find more on our methodology, plus a few disclaimers at the bottom of this page. Both Notts grads and Bristolians showed a pretty even split between city and non-city firms, but Durham grads showed an almost 75% preference for working in the city. Do I need a law degree to get into the magic circle? Nearly one in four of our London interviewees had an Oxbridge degree. This cookie is set by GDPR Cookie Consent plugin. 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. But this ranking doesn't reveal the full story. If your university isn't ranked highly on our charts, or doesn't appear at all, don't despair: it's likely that graduates from this particular institution have had greater success bagging training contracts at smaller firms. Lse Law magical circle I take. Choosing a University Other Things to Consider. Barristers from it worked on 64 matters for the Magic Circle law firms since 2015. Indeed, before its launch in the Silicon Valley, Freshfields' East Coast hires included the attention-grabbing addition of Ethan Klingsberg, a highly rated M&A partner from Cleary Gottlieb, and Willkie Farr securities litigator Mary Eaton, both of whom are ranked in the Chambers USA 2021 Guide, as well as adding employee benefits expert Lori Goodman from Latham & Watkins and hiring antitrust duo Meghan Rissmiller from Hogan Lovells and Julie Elmer from the US Department of Justice's Antitrust Division. Wondering what the salary is like for a Magic Circle trainee? Oxford supplied the most trainee lawyers in 2016-18, with Cambridge in second place, followed by Bristol, Durham, Nottingham, Exeter and Warwick. This is despite Oxbridge students making up less than one per cent of each years graduating class. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. How likely is a UK property market crash and what IS happening with house prices? All of the 'Magic Circle' law firms and barristers' chambers specialise primarily in corporate law. Between 2013 and 2015 we interviewed over 2,300 trainees for our True Picture reviews. If they did it, why can't you? This cookie is set by GDPR Cookie Consent plugin. Here are the results. Career change to Law contemplationwill I be too old at 33? If you're considering where to complete your undergraduate degree, do not let the results of this report override key considerations: a particular course youre passionate about; doors open to you by pursuing a certain course; a locations appeal and the accompanying cost of living; how close by your parents should be; the social life and your general happiness. This might reassure the non-law grads that theyre not starting their careers on the back foot, and should certainly encourage wavering GDL applicants. Will taking Further Maths as a third subject be a disadvantage to apply for uni? Find out how they work - and how you can get one. Why are there so many Oxbridge trainees? They will be in touch with you soon! At the time, these firms were Allen & Overy; Clifford Chance; Freshfields Bruckhaus Deringer; Linklaters; and Slaughter and May. Linklaters. Almost half a century since crossing the Atlantic and opening in New York in 1977, leading law firm Freshfields announced the launch of its first California office in late 2020, hiring a multidisciplinary team from local firms and transferring two attorneys from Brussels and New York. Want to impress interviewers with your commercial awareness prowess? Oxbridge, Durham and LSE dominate the US/Magic circle so that's hardly a surprise but Bristol, Exeter, UCL and Warwick also put up a good show. Below are the 30 universities that were most frequently cited. At these firms, we spoke to graduates of46 different universities. The subject that was studied can influence how a university appears. Kings - English law and French law degree, Law Applicants 2023 entry - discussion thread, HKU-UCL, KCL-CUHK, Exeter-CUHK Law interviews, Cambridge Sixth Form Law Conference 2023 (CSFLC). How suitable are you and what do recruiters want? City heavies Clifford Chance and Macfarlanes set the ball rolling with 'CV blind' interviews; a recruitment method which (you guessed it) leaves interviewers in the dark about candidates' educational backgrounds. [4][5] In 2017 The Lawyer magazine stated that it no longer considers Slaughter and May to form part of the Magic Circle due to its lower revenues and UK domestic focus. Although Russell Group candidates currently dominate the universities which lawyers at Magic Circle firms recruit from, you do not need to attend one of these universities to secure a position at a Magic Circle Firm.
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