magic circle law firms' preferred universities

The data below is drawn from the entirety of our research in the years 2010, 2011 and 2012. We also found that London attracted the highest proportion of overseas graduates. Out of all the Oxford and Cambridge graduates we interviewed, over 80% bagged a contract at a City firm. Can you do anything with a 2:1 in Oxford law? If theres a regional firm youre interested in, its still worth applying, highlighting what you would bring to the role. The Chambers Student Guide survey recently published a study examining which universities law firms recruit most from. However, this doesnt mean that they exclusively hire local candidates. 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. Other notable unis that dont make it into our frontrunners graph are Birmingham, Sheffield and Newcastle, who all appear in the top 20 every single year. Slaughter and May. In the past three years we've asked 2,300 trainees at 124 firms which university they went to. How many we interview depends on the size of the firm - we might talk to every trainee a smaller firm has, and maybe as many as 20 in the magic circle firms. Submit. "[1], In 2013, The Lawyer argued that Clifford Chance and Slaughter and May should no longer form part of the Magic Circle. The prestige, the career opportunities, the money and the city itself combine to attract the brightest, hungriest graduates. We interviewed a sample of 7000 (exactly!) This survey doesnt account for the numbers graduating from each institution. [8][9][10][11], Among the large firms not included in the term are Herbert Smith Freehills; Hogan Lovells; Norton Rose Fulbright; and Stephenson Harwood, which are less profitable. Used to track the information of the embedded YouTube videos on a website. (Part 2), Shared bathrooms student accommodation Southampton. When I heard that my university was holding an exclusive lecture by a former Magic Circle firm partner on how to impress at a legal interview, . Oxbridge grads make up a quarter of London trainees and a fifth of all trainees. The cookies store information anonymously and assign a randomly generated number to identify unique visitors. Thank you for registering your interest with these selected law schools. "[6][7] Nonetheless, other commentators still consider Slaughter and May to be a member of the Magic Circle. Non-city firms are pulling in trainees from a wider array of universities. 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. Quiz now! Take our new Which Magic Circle Law Firm is Right For Me? Get on a law firm work experience programme. Official: Aston University A100 2023 Entry Applicant and Offer Holder thread, Close to a thousand experts unite behind statement that rejects zealotry of plant-b, Official University of the Arts London 2023 Applicants Thread, Official King's College London 2023 Applicants Thread, Official Oxford 2023 Postgraduate Applicants Thread, will university find out in future if someone uses CHATGPT, Parents are upset I've not found a bf and had a baby yet at 19. Clifford Chance, headquartered in London, is one of the world's largest law firms, both by size and revenue. Visit the guide page below for more information. 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 . You'll be familiar with this declaration from poring over law firms' grad recruitment pages. From Jamaica to Australia, from Brazil to Ukraine: our interviewees in this category came from all over the world. We also encountered more overseas graduates than we did across the separate regions. Less established US firms concentrate their recruitment efforts on the 'top' universities in order to increase their prestige and position in the London market. 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. The cookie is set by the email marketing service MailChimp. But otherwise, the best advice we can give is to study a subject you care about career success is about passion, not playing a numbers game. Below are the 30 universities that were most frequently cited. Over this period our sample size has increased along with the likelihood of new names entering. [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). [3], In 2004, Slaughter and May's then senior partner, Tim Clark, said: "It's a funny concept. Could someone read this and share their thoughts and corrections? Quiz now! The first City law firm to establish a presence in Hong Kong; The only law firm to have been involved in almost every aspect of the UK financial crisis; Law Work Experience: Your Guide to Success, Pupillage: a Guide for Aspiring Barristers, Freshfields Graduate Recruitment: Law Training Contracts, Which Magic Circle Law Firm is Right For Me? London is at about $900,000 and New York's RPL is about $1.1 million. Eight musts for training contract applications, How to succeed at interviews and assessment days, True confessions of a training contract applicant. 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. Those who argue that both university admissions and law firm hiring is meritocratic should take a look at our School Backgrounds of Trainees report, which showed that an undeniable bias towards privately educated graduates exists in the profession. This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. We expect that more firms will adopt techniques like this in the years ahead as they acknowledge the need to be more diverse. This cookie can only be read from the domain they are set on and will not track any data while browsing through other sites. The sudden jump in numbers between 2015 and 2016 may be due to sponsored work visas being given changes that made it easier for businesses to take on international juniors. [1] The members of the Club of Nine had an informal "no-poaching" agreement and the firm's senior partners would meet. Definitions of firm types: City (above including the magic circle and US firms): firms focused on City business sectors, such as finance, . Part of the Dukes Education family Together we're extraordinary. The link between prestigious institutions and prestigious careers is difficult to challenge. They can give you all the details you need about course fees, funding options and more. Going to University: A Student's Perspective. The range of universities feeding the market grew by 14% in three years. [22], Impact of globalisation and relevance of the term, List of largest United Kingdom-based law firms, "One Essex Court is the 'go-to' set for litigation heavyweights", "Is this the end of the 'Magic Circle' brand? This group fragmented at the beginning of the 2000s, and now comprises the five that now make up the Magic Circle, a term coined by legal journalists. This cookies is installed by Google Universal Analytics to throttle the request rate to limit the colllection of data on high traffic sites. 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. Used by Microsoft as a unique identifier. A list of the universities attended by partners at top City of London law firms has been published. In each of the regions, the local Russell Group universities often came out on top. For instance, Freshfields and Allen & Overy now enjoy local rankings in California, a fiercely contested market traditionally dominated by homegrown firms. [3], In 2014, it was reported that Freshfields Bruckhaus Deringer wished to discard its Magic Circle designation in the US in favour of being part of the Global Elite. The remaining Russell Group universities were also represented strongly, while interviewees from other UK universities were comparatively low. The arrival in Northern California demonstrates Freshfields' rapidly-growing strength in the USA, fuelled by a significant expansion in the number of its partners through lateral hiring. The research shows 76 per cent of trainee lawyers at . The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". E.g. 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. The term was coined in the 1990s by The Lawyer magazine and is based on the quintets close relationship with the Citys leading banks and stranglehold on the best corporate finance work. Career change to Law contemplationwill I be too old at 33? 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 . Registered in England and Wales with Company Number 08037587. The Magic Circle is an informal term describing the five most prestigious London-headquartered multinational law firms, which generally outperform the rest of the London law firms on profitability. What's more, non-Russell Group trainees popped up in all of our categories. This cookie is set when an AdsWizz website visitor have opted out the collection of information by AdsWizz service or opted to disable the targeted ads by AdsWizz. The cookie is used by cdn services like CloudFlare to identify individual clients behind a shared IP address and apply security settings on a per-client basis. Moreover, all four Magic Circle firms with US-based operations continue to increase their presence in the 2021 Guide, notably, in areas beyond their traditional areas of expertise in cross-Atlantic transactional and regulatory mandates. At the time, Herbert Smith was languishing in the corporate stakes, and so was consigned to the outer darkness. Also, at the time the term was coined, the corporate practice at Herbert Smith (as it was known pre-merger) was focused on privatisation work, which had dried up. They are the five UK-based firms considered to be amongst the most prestigious in the world. The term was coined by The Lawyer magazine in 2005 in response to the pre-existing term, Magic Circle. The Student Room and The Uni Guide are both part of The Student Room Group. When we look at what replaces Doxbridge, we see universities in big cities with legal markets significant enough to keep graduates hanging around. LPC? It seems to be a term to describe the leading City firms and there is some truth in it. [1] Generally, the Magic Circle firms have among the highest earnings-per-partner and earnings-per-lawyer of UK-headquartered law firms. At these firms, we spoke to graduates of58 universities. London is a global legal hub only rivalled by New York. 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. Travers Smith, Herbert Smith Freehills, London refers to firms that are London-based and dealing with mid-sized organisations usually doing anything other than global corporate finance sectors like IP, media, real estate, human rights, employment, personal injury, public law. The more that firms adopt techniques like CV blind interviewing, the more pressure there'll be across the industry to broaden recruitment and adhere to new standards. The cookies is used to store the user consent for the cookies in the category "Necessary". GCSE AQA LIT. What are you looking for? Want a more specific insight into each of these firms? A natural target for go-getters London may be, but theres a mutual attraction going on. This cookie is set by GDPR Cookie Consent plugin. The purpose of the cookie is to enable LinkedIn functionalities on the page. ", "UK 200: Record 11 firms join the 1m PEP club", "The long read: How the silver circle shattered", "Magic Circle Law Firms: The Ultimate Guide", "The magic circle: meet the City's top commercial law firms", "Guest post - The Magic Circle is doomed. For example, Manchester and Nottinghams undergrad enrolments are much higher than that of St Andrews. Subscribe to the City A.M. newsletter to have our top stories delivered directly to your inbox. But that doesn't mean, say, an Imperial chemistry graduate would be less likely to get a training contract than a Nottingham geography graduate. Youve heard of the Magic Circle, but did you know that theres also a Silver Circle? Away from the capital, the configuration shifted again. Read one of our most popular free guides - Magic Circle Law Firms: The Ultimate Guide - here! E.g. The cookie is used to store the user consent for the cookies in the category "Performance". Below is a chart of the top 20 most common universities that cropped up in our research over the past nine years. In comparison to the overall picture of London, the top end of the market held a higher proportion of Oxbridge graduates; a similar amount from the remaining Russell Group universities; and fewer trainees from other UK institutions. 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. Magic circle if you havent heard this term before, welcome to the UK legal market, heres a primer. Each trainee told us where they completed their undergraduate degrees. Since employability is a factor in a universitys status and funding, this is a convenient relationship for both the firms and the universities, so its hard to break.. But read on and the analysis by recruiter Laurence Simons of 1,147 senior lawyers LinkedIn profiles reveals that some Russell Group universities produce massively more leading City firm partners than others. Learn more about this study here. Magic Circle Interview Tips: Things to Be Aware of . Between 2013 and 2015 we interviewed over 2,300 trainees for our True Picture reviews. If they did it, why can't you? When we leave London, we find Oxbridge only coming in at ninth and tenth on the chart. This cookies is set by Youtube and is used to track the views of embedded videos. It is also worth pointing out that different firms have different strengths, and thus do not all need the same type of candidate. If you're currently studying at a Russell Group university, bear in mind what we've just mentioned above. King's College London A102 GEM 2023 Entry. The pair both took around 2% each of the 2016-2018 trainee sample. Linkedin - Used to track visitors on multiple websites, in order to present relevant advertisement based on the visitor's preferences. For those in their first-year of uni, now is the time to start thinking about getting . 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. Solicitor Apprenticeships are one such example, and are an alternative to attending university, meaning that you can get started with a legal career without even attending university. There are also a number of options now available at some firms which do not follow the traditional training contract route. Everyone on TSR seems to go to Oxbridge, except a couple went to Oxford Brookes and Kings College. Masaryk University; is it worth going as an international student? We also found that London attracted the highest proportion of overseas graduates. Also worth mentioning are Southampton, Edinburgh and Cardiff, which appear almost every year too. Quiz, 12 Pro Interview Tips from a Magic Circle Partner, Clifford Chance Interview: From Trainee to Associate, Freshfields training contract recruiter interview, Why You Should Choose a Regional Office Training Contract, Five days of paid work experience to SPARK your law career, Interview with a STEM Trainee Associate at Herbert Smith Freehills, Students currently in their penultimate year of study, finalists and graduates of all degree disciplines, 2021/2022/2023 (March & September intakes), Penultimate or final year students; graduates, 1987, by merger of Clifford Turner and Coward Chance, 8000 (London), 7000 (outside of London), Weeks commencing 13 January and 27 January 2020, You can only apply for SPARK if you are in your first year or the second year of a four year course, Penultimate and final year law students; law graduates; GDL graduates, Winter Training Contract (Law and Non-Law), Final year law students; law graduates; final year non-law students; non-law graduates, 8000 (in London), 7000 (outside of London), Penultimate and final year law or non-law students; law or non-law graduates; law or non-law postgraduates, 1889, by William Capel Slaughter and William May, BPP University, London Waterloo + GDL Extra Programme, Law students in the penultimate year of their undergraduate degree and law students in the second year of a four year course who will be going abroad in their third year. We found that universities like Northumbria, Kent, Reading, UEA and UWE played a much greater role in supplying trainees to national and regional firms. You don't have to go to a top university (and by your definition the 'only top unis are Oxbridge') to work at a top law firm. Privacy Policy of each partner law school I have selected above. from the 139 firms featured in our guide since 2010. Oxbridge grads make up a quarter of London trainees and a fifth of all trainees. For example, Manchester and Nottinghams undergrad enrolments are over three times the size of St Andrews. You also have the option to opt-out of these cookies. Remember everyone, we depend on your tips to stay on top of important bonus updates, so when . Next: How to choose your perfect law firm >>. At most firms youll meet a balance of law and non-law grads. 1. A breeze from overseasThe fortunes of overseas undergrads in our survey is interesting, in particular how they beat every UK university in the salaries table. All legal teams work best with the variety of perspectives both groups bring. [1] In 1996, Stephenson Harwood was asked to leave the Club of Nine due to its stagnant performance, and the Club was disbanded in 2000. Universities outside of the Russell Group came to the fore, particularly Northumbria in the North East; Lancaster in the North West; Nottingham Trent in the Midlands; UWE and Plymouth in the South West; and Kent, UEA and Reading in the South/Thames Valley. 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, http://www.chambersstudent.co.uk/where-to-start/newsletter/law-firms-preferred-universities, http://www.chambersstudent.co.uk/media/1067/what_is_a_good_university.pdf. London School of Economics and the School of Oriental and African Studies were next, with graduates earning an average of 86,885 and 80,972 respectively. Organisations are beginning to recognise that talent is found everywhere not just in the most prestigious universities, which struggle themselves with a bias towards the privileged. Fladgate, Bristows, Simkins, Regional defines a firm that, you guessed it, has offices inregions that arent London, and a head office thats also somewhere not-London. Nearly one in four of our London interviewees had an Oxbridge degree. 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. I am sharing my experience in the hopes that I can aid aspiring lawyers and support others in taking advantage of similar opportunities. But this ranking doesn't reveal the full story. Used by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. . Oxbridge dominates, but there are some surprises. Axa warns burnout is burning a hole the economy, From cow herder to corporate chief meet the man who leads Axas City division. magic circle law firms, I was surprised to see LSE placed quite low. Just take a look at our table below: What do they look for in Allen & Overy training contract candidates? E.g. Since employability is a factor in a universitys prestige, this is a convenient relationship for both the firms and the universities, so its hard to break. The prestige, the career opportunities, the money and the city itself combine to attract the brightest, hungriest and most gumptious graduates. You'll notice that the Midlands and Northern-based Russell Group universities did particularly well here. In 2013, The Lawyer argued that the term Magic Circle would lose its relevance, becoming "outmoded": "It will remain an easy shorthand to denote the UK-heritage firms with the biggest revenues, the most international work and which consistently outperform the rest of the [UK] market on profitability." The graph above implies theres a difference in average earnings between law and non-law grads, so we crunched the numbers and found this: the average NQ salary for non-law students is 72,551, 6% higher than the average NQ salary earned by law grads: 68,406.

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