[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. Here's why", "The silver circle - Chambers Student Guide", "Ashurst, Herbies ride out tough year; BLP, Macfarlanes, SJ Berwin succumb", "Can the magic circle ward off the challenge of the US firms? 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. This is no surprise given the dominance of the duo in academia. While that's a small portion of the overall number of interviewees, the point is that graduates from these universities were still able to get training contracts. 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. That said, some US firms are more comfortably positioned here, so they hire less aggressively and are less closed off to students outside of the Russell Group: our trainee interviewees in this category had attended universities such as Kingston, Leeds Beckett*, Aberystwyth and Bangor. Even the top law firms do not specify attending a particular university, or particular group of universities in their application process. In the past three years we've asked 2,300 trainees at 124 firms which university they went to. Clifford Chance. Going to University: A Student's Perspective. Statistically speaking, lawyers at the top firms are most commonly from Oxbridge and other Russell Group universities. 999tigger. Any universities missing didn't produce strong enough data. These cookies track visitors across websites and collect information to provide customized ads. Amlaw 100 Amlaw 200 Global 200 NLJ 500 A-List Diversity Scorecard Go-to Law Schools . ORW. Durham has taken a slide too. Sign up for our newsletter to boost your commercial awareness. Guys, do you prefer to be called hot or handsome? We rarely encountered overseas graduates at the regional firms we researched. Read more: Slaughter and May boosts pay packet for newly qualified solicitors to 100,000 as Magic Circle pay war rages. 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. What happens if i dont get my A-level predicted grades for Rice University? Our graph below makes no distinction between UK and non-UK citizens. ", "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. 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. TSR Decisions Drop In 17th April - 5th May. Below is a chart of the top 20 most common universities that cropped up in our research over the past nine years. As firms recruit on a case to case basis, and are keen to make entering law as accessible as possible, the . NQuids inThe university you attend does determine your employability and earning power, but prestige isnt everything, as a glance at this table below will show. At these firms, we spoke to graduates of58 universities. 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. Copyright The Student Room 2023 all rights reserved. Each trainee told us where they completed their undergraduate degrees. So we cant conclude that the law firms have hired from a more diverse range of universities: whatever progress has happened beyond the Russell Group, its not significant. InvestmentBankin. Is Clifford Chance the law firm for you? Chambers Student, the students companion to the legal profession, gives the truth about law firms and the Bar. 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, . 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.The term has also been used to describe the most prestigious barristers' chambers in London. If theres a regional firm youre interested in, its still worth applying, highlighting what you would bring to the role. The cookie is used to store and identify a users' unique session ID for the purpose of managing user session on the website. We don't describe ourselves as a Magic Circle firm in any of our marketing material. It does not correspond to any user ID in the web application and does not store any personally identifiable information. We could stop our investigation right here: the law is demanding, intellectually rigorous and it needs capable graduates see graph. The subject that was studied can influence how a university appears. 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. 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. During my nine weeks of legal experience, I had the opportunity to experience seven different practice areas, which helped me understand which seats I would be most interested in upon starting a training contract . What universities have lawyers at the top firms attended? The cookie is set by the email marketing service MailChimp. With clients across five continents, Clifford Chance is a 'magic circle' firm with a formidable reputation. This cookie can only be read from the domain they are set on and will not track any data while browsing through other sites. 19.
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