magic circle law firms' preferred universities

Before we launch into the results, a few points to bear in mind: We haven't interviewed every trainee that's passed through the system over the last three years: for our research we contacted a sample from each firm. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Take our new Which Magic Circle Law Firm is Right For Me? 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 . 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. The firm has 570 partners and over 6,000 staff. No surprises here. We know that anyone can become a lawyer, regardless of where they completed their undergraduate degree. If you have a look at the Law section there are several official lists based on reputation, partnership prospects, relationship success and salary expectations compiled by experts with their fingers on the pulse of the MC. The subject that was studied can influence how a university appears. All the resources you need to research law firms and barristers' chambers, We interviewed over 2,500 trainees for our True Picture reviews over the past three years and recorded the university where each one of them completed their undergraduate degree. If theres a regional firm youre interested in, its still worth applying, highlighting what you would bring to the role. What universities do Magic Circle Firms recruit from. "[1] Then corporate partner at Herbert Smith Freehills and former investment banker Henry Raine said: "The phrase was coined by a legal magazine and referred to firms which were very strong in corporate or international work. Here we plotted university background against eventual NQ earnings. According to the data, 31.4 per cent of trainee lawyers at Londons elite Magic Circle firms Linkaters, Slaughter and May, Clifford Chance, Allen & Overy and Freshfields Bruckhaus Deringer went to Oxbridge. 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. Youve heard of the Magic Circle, but did you know that theres also a Silver Circle? 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. This elite group of London law firms specialises in corporate and finance work and this enables them to be involved in multi-billion pound deals and to boast massive profits each year. The coloured arrows indicate rises or falls compared to our 2012 survey. James is a dual-qualified practitioner in both civil law (an advocate in Indonesia) and common law legal systems (a solicitor in England & Wales). Our graph below makes no distinction between UK and non-UK citizens. Magic Circle (law firms) - Wikipedia If youre an aspiring solicitor, youve almost certainly heard of the Magic Circle law firms. If you're currently studying at a non-Russell Group university, do not be discouraged by this report. ORW. 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. 10. Is it even worth me applying to magic circle law firms, Scared about job prospects at Leicester uni. Manchester University dominates the national firms market. 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. 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. You also have the option to opt-out of these cookies. It sets a unique ID to embed videos to the website. Quiz now! We interview a random selection of trainees at 125 law firms. To view the latest research for 2019, click here. US firms in London had the highest percentage of Oxbridge and overseas graduates in the entire survey. go to the ultimate magic circle guide now. What do they look for in Clifford Chance training contract candidates? Overseas students were the top earners, according to the research, with an average newly qualified salary of 88,384. The Student Room and The Uni Guide are trading names of The Student Room Group Ltd. Register Number: 04666380 (England and Wales), VAT No. 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. According to Bloomberg . InvestmentBankin. Oxford and Cambridge feature considerably lower outside London. Answer (1 of 2): It isn't a requirement per se, but the odds are stacked against you if you don't have a degree from a Russell Group university or an equivalent UK/foreign university of the same calibre. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookie is set by the email marketing service MailChimp. 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. 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. 12 Pro Interview Tips from a Magic Circle Partner London's total profit went from over 150% of New York's in . This cookie is set by GDPR Cookie Consent plugin. This cookie is to identify the source of a visit and store user action information about it in a cookies. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. For more detailed information about the cookies we use, see our. "[6][7] Nonetheless, other commentators still consider Slaughter and May to be a member of the Magic Circle. If your university doesnt rank highly in our report, should you be concerned? [19] Similarly, in 2014, Linklaters then managing partner, Simon Davies, said "The Magic Circle isnt what it used to be in the context of the US market or any market. 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. Russel Group universities were strongly represented, accounting for 81.4% of trainee interviewees, with 5.3% having studied at the University of Bristol . All some of the top lawyers working for their respective law firms. Quiz now! What do they look for in Slaughter and May training contract candidates? As an aspiring solicitor, its likely that youll need to study a course with a leading law school in the not-too-distant future. Here, we break down the facts. 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. [1] The Club of Nine was an informal group of law firms that comprised Allen & Overy; Clifford Chance; Freshfields (now Freshfields Bruckhaus Deringer); Herbert Smith (now Herbert Smith Freehills); Linklaters; Lovells (now Hogan Lovells); Norton Rose (now Norton Rose Fulbright); Slaughter and May; and Stephenson Harwood. 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. The schemes gave me invaluable insight into working in a law firm, and the different practice areas that were on offer. Between 2013 and 2015 we interviewed over 2,300 trainees for our True Picture reviews. Applying for Clifford Chance's Training Contract [2023] - WikiJob 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). Masaryk University; is it worth going as an international student? It's mainly something that comes up when we talk to journalists or they talk to us. What universities have lawyers at the top firms attended? Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Its all about the grades, we hear and, rightly, firms conceal their preferences for certain universities. Big Three law firms, an informal term for leading law firms in New Zealand. 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. Want regular information and advice on how to get into law? Initially coined in the early 1990s, the Magic Circle is a collective term used to describe what many consider to be the leading UK-headquartered law firms - Allen & Overy, Clifford Chance, Freshfields, Linklaters and Slaughter and May. Lse Law magical circle I take. And is it necessary to attend one to stand a chance of securing a job at one of these firms? Its encouraging, but as we can see from nine years of tracking this data, progress is happening slowly. GCSE AQA LIT. What happens if i dont get my A-level predicted grades for Rice University? It's the full package that recruiters are after: the more you prove you can offer that, the less your university will matter. Thankfully many of the most elite firms are focusing much energy on addressing this bias, with programmes like contextual recruiting, and unconscious bias and diversity training. 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. Read more: Slaughter and May boosts pay packet for newly qualified solicitors to 100,000 as Magic Circle pay war rages. For example, graduates of Bristol, Nottingham, Kings College London and Durham account for a combined 44% of all Russell Group-educated magic and silver circle partners. and "At the end of the day we see ourselves as one of the leading global law firms, not one of the leading Magic Circle firms". Less established US firms concentrate their recruitment efforts on the 'top' universities in order to increase their prestige and position in the London market. There were over 107 UK universities mentioned in our data from 2010-2018. [1] The members of the Club of Nine had an informal "no-poaching" agreement and the firm's senior partners would meet. Magic Circle members are extremely prestigious, and consistently rank among the highest earnings per partner and earnings per lawyer in the UK. Almost a third of lawyers at the UKs elite Magic Circle law firms attended Oxford or Cambridge universities, new data published today shows. magic circle law firms, I was surprised to see LSE placed quite low. The Student Room and The Uni Guide are both part of The Student Room Group. Initially, the Magic Circle's membership was described by commentators as comprising the UK firms with strong corporate practices or international work. It really isn't about uni, firms want to distance themselves from the oxbridge stereotype and simply want the best candidates regardless of who is awarding your degree ", "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. Scared about job prospects at Leicester uni. The impressive growth of law firms expanding their coverage across the United States.

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