The range of universities feeding the market grew by 14% in three years. BTEC Business Unit 6 (Principles or Management) May 2nd Resit (2023), Which poems from love and relationships should i memorise? [2] It wrote "Slaughters fits the silver circle bill in every respect. 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). Read one of these interviews with Magic Circle employees! For instance, Freshfields and Allen & Overy now enjoy local rankings in California, a fiercely contested market traditionally dominated by homegrown firms. London is a global legal hub only rivalled by New York. At these firms, we spoke to graduates of 68 universities. A list of the universities attended by partners at top City of London law firms has been published. Take our new Which Magic Circle Law Firm is Right For Me? And how can you get to work for them? We use cookies to provide you with a better online experience, to tailor advertising based on your browsing, and for statistics and measurements purposes. What happens if i dont get my A-level predicted grades for Rice University? Below are the 30 universities that were most frequently cited. Some firms may specify a strong 2:1, which is generally seen as achieving between 65-70%. For example, Manchester and Nottinghams undergrad enrolments are much higher than that of St Andrews. Russel Group universities were strongly represented, accounting for 81.4% of trainee interviewees, with 5.3% having studied at the University of Bristol . I am sharing my experience in the hopes that I can aid aspiring lawyers and support others in taking advantage of similar opportunities. The highly esteemed quintet are renowned for their pedigree in the most complex and high- profile mandates for the most significant clients, their outstanding financial performance and the highly impressive number of individual lawyers working across a multitude of practice areas offered. This survey doesnt account for the numbers graduating from each institution. We also encountered more overseas graduates than we did across the separate regions. Here are the 55 universities in the UK and the Republic of Ireland which came up in our sample outside of our top 30, in alphabetical order: Together, trainees from these universities represented 3.1% of the sample. Guys, do you prefer to be called hot or handsome? Here are the results. YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. Can you do anything with a 2:1 in Oxford law? As firms recruit on a case to case basis, and are keen to make entering law as accessible as possible, the . 10. This is an informal term used to describe what are generally regarded as the five leading UK-headquartered law firms, namely Allen & Overy, Clifford Chance, Freshfields, Linklaters and Slaughter and May. 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. Note the success of LSE which makes it onto the table every year but one. The other vital ingredient is to make good decisions at every stage, and that where we come in: use our guidance and market intelligence to help you understand where youd find your niche in this giant profession. . 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. All legal teams work best with the variety of perspectives both groups bring. These firmscompete to pay the top salaries, outstripping the magic circle firms, while the style of work is not miles away from the UK elite. Each trainee told us where they completed their undergraduate degrees. Oxford and Cambridge toppled from the top spots and slipped down to 15thand 18thpositions respectively, accounting for less than 5% of the population. 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 cookie can only be read from the domain they are set on and will not track any data while browsing through other sites. How likely is a UK property market crash and what IS happening with house prices? The data below is drawn from the entirety of our research in the years 2010, 2011 and 2012. The coloured arrows indicate rises or falls compared to our 2012 survey. Will taking Further Maths as a third subject be a disadvantage to apply for uni? Do I need a law degree to get into the magic circle? The cookie is used to store the user consent for the cookies in the category "Analytics". The London universities LSE, UCL and King's continued to perform well here, while Nottingham lost the dominance it maintained in the other London categories. If you're currently studying at a non-Russell Group university, do not be discouraged by this report. A commitment to a career in international commercial law; A commitment to and clear articulation of why you want to work at Allen & Overy; Commercial awareness of both the law and business; Genuine interest and a motivation towards a career in commercial law; The name Freshfields was introduced by James William Freshfield. LLM? Boost your law career for free. 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. Chambers Student, the students companion to the legal profession, gives the truth about law firms and the Bar. For example, Manchester and Nottinghams undergrad enrolments are over three times the size of St Andrews. Types of law firm and their preferred universities. If youre an aspiring solicitor, youve almost certainly heard of the Magic Circle law firms. Clifford Chance. 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. 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. This cookie is set by LinkedIn and used for routing. 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. Who are the Silver Circle Law Firms? Instead this is simply the raw data broken down. 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. (Flip to the next page to read the full memo from Linklaters.) You can find all of the answers to these questions using our free guide start reading below! To help you make an informed decision, wed like to put you in touch with our partner law schools. Its all about the grades, we hear and, rightly, firms conceal their preferences for certain universities. 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. 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 Quiz now! The London-based global firm secured a role in 2020 on drugmaker AstraZeneca's $39bn acquisition of US pharma group Alexion Pharma, one of the biggest deals of the year. Take our new Which Magic Circle Law Firm is Right For Me? Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. The Student Room and The Uni Guide are trading names of The Student Room Group Ltd. Register Number: 04666380 (England and Wales), VAT No. Privacy Policy of each partner law school I have selected above. 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. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. 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. 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. We interview a random selection of trainees at 125 law firms. E.g. 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 . Allen & Overy. The short answer is no. The term was coined by The Lawyer magazine in 2005 in response to the pre-existing term, Magic Circle. If you're currently studying at a Russell Group university, bear in mind what we've just mentioned above. 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. Oxfords graduates earned an average 71,120, Kings College London graduates 74,512, University College London graduates 72,814 and Cambridge graduates 72,457. Compared to our regional breakdowns, we saw a greater percentage of Russell Group-educated trainees, and fewer from other UK universities. 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. Arguably for this reason, it was not included in the initial Magic Circle. You'll notice that the Midlands and Northern-based Russell Group universities did particularly well here. We also found that London attracted the highest proportion of overseas graduates. 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. 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. This information is used to compile report and improve site. City firms are either more selective, or targeted more heavily by Russell Group students. 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. Masaryk University; is it worth going as an international student? 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. 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. 1. 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. 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 . The Chambers USA 2021 guide will be released in May 2021. 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. 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. Exploring trainee secondments and career moves into the Asia market. Here we plotted university background against eventual NQ earnings. This cookie is set by GDPR Cookie Consent plugin. Want regular information and advice on how to get into law? 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. The grades you have achieved and your overall academic standard is more important than the university you attend. 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. 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. To put it in the same category as Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer and Linklaters would be inaccurate, and to say it is in a class of its own is frankly showing the firm too much deference. 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. 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. What do they look for in Linklaters training contract candidates? It sets a unique ID to embed videos to the website. In comparison to the larger London firms, the gap between Cambridge and Durham closed, while the prominence of certain Russell Group members shifted: Exeter, Southampton and Leeds gained traction, while Manchester slipped again. We know that anyone can become a lawyer, regardless of where they completed their undergraduate degree. But this ranking doesn't reveal the full story. 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. Linklaters. Linkedin - Used to track visitors on multiple websites, in order to present relevant advertisement based on the visitor's preferences. London is a global legal hub only rivalled by New York. Slaughter and May. ORW. I don't know where the term came from or who founded it. That seems big and it is but its down 5% from our previous survey of the years 2013-2015, although over nine years weve witnessed a 3% drop in the Russell Groups dominance. If you've got legal ambitions, our partner, The University of Law, has the right event for you. London's total profit went from over 150% of New York's in . Will taking Further Maths as a third subject be a disadvantage to apply for uni? Used to track the information of the embedded YouTube videos on a website. With the competition for training contracts becoming increasingly tough, candidates are becoming more conscious of their educational background as they pursue a place at a highly competitive Magic Circle firm. Oxbridge grads make up a quarter of London trainees and a fifth of all trainees. Adjusting for this would have to consider the size of law courses, proportion of law and non-law, and wed just get bogged down. A natural target for go-getters London may be, but theres a mutual attraction going on. Part of the Dukes Education family Together we're extraordinary. Magic is in the air at this Biglaw firm! Thats up from 85 in our 2013-2015 research and from 76 in our 2010-2012 research. 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. However, entry into the Magic Circle is . Its important to remember that this line isnt people from overseas, its just people who conducted their undergrad not in the UK. Linklaters lawyers and graduate recruiters share their advice. [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. There were over 107 UK universities mentioned in our data from 2010-2018. In each of the regions, the local Russell Group universities often came out on top. We meet many law firms at far-flung universities and can see the efforts they make to get in front of a diverse student group. Youve heard of the Magic Circle, but did you know that theres also a Silver Circle? What sets them apart from other firms? Barristers from it worked on 64 matters for the Magic Circle law firms since 2015. Going to University: A Student's Perspective. Oxford, Cambridge and definitely Durham dont have big legal markets. All some of the top lawyers working for their respective law firms. Or a Magic Circle partner salary? The cookie is used to store the user consent for the cookies in the category "Performance". This survey gives the real story on entry requirements. 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. Instead they're becoming more interested in simply sourcing candidates with the right qualities to make them a great lawyer. Participating firms represent the more competitive half of the market: combined their trainee vacancies amount to over 2,500, which is over half all trainee positions going each year. "[6][7] Nonetheless, other commentators still consider Slaughter and May to be a member of the Magic Circle. Meanwhile, Allen & Overy also saw the arrivals of Paul Keller and Adam Sofen in 2020, from Norton Rose Fulbright and Sullivan & Cromwell respectively, while Clifford Chance added Department of Justice antitrust chief Peter Mucchetti and Linklaters welcomed Schulte Roth investment funds partner Brad Caswell last year. When we leave London, we find Oxbridge only coming in at ninth and tenth on the chart. Could someone read this and share their thoughts and corrections? In essence, the silver circle refers to the band of firms that fall just . The Silicon Valley outpost is headed by Chambers-ranked capital markets attorney Sarah Solum, who arrived from Davis Polk, and includes highly rated securities litigation partners Boris Feldman and Doru Gavril from Wilson Sonsini, up-and-coming corporate attorney John Fisher from Sidley Austin and Latham & Watkins' employee benefits partner Maj Vaseghi. Amlaw 100 Amlaw 200 Global 200 NLJ 500 A-List Diversity Scorecard Go-to Law Schools . Axa warns burnout is burning a hole the economy, From cow herder to corporate chief meet the man who leads Axas City division. Oxbridge dominates, but there are some surprises. Read more: Slaughter and May boosts pay packet for newly qualified solicitors to 100,000 as Magic Circle pay war rages. 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. The International Business law firms comprise CMS; Ashurst; Baker McKenzie; DLA Piper; Hogan Lovells; Jones Day; King & Wood Mallesons and Norton Rose Fulbright. This website uses cookies to improve your experience while you navigate through the website. This domain of this cookie is owned by Vimeo. 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". What are you looking for? We then combined this with our data all the way back to 2010, when most of the current Chambers Student research team were still gamboling about the school field in PE kit (kidding, were more the library type). We rarely encountered overseas graduates at the regional firms we researched. "[1], In 2013, The Lawyer argued that Clifford Chance and Slaughter and May should no longer form part of the Magic Circle. London is at about $900,000 and New York's RPL is about $1.1 million. According to Bloomberg . The prestige, the career opportunities, the money and the city itself combine to attract the brightest, hungriest and most gumptious graduates. King's College London A102 GEM 2023 Entry. Incidentally, Oxford (24%) did better than Cambridge (20%). The further down you go, the more erratic it becomes. All of the 'Magic Circle' law firms and barristers' chambers specialise primarily in corporate law. Copyright 2023 Legal Cheek Ltd. All Rights Reserved. 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? Visit the guide page below for more information. It does not store any personal data. 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. The firm was swiftly joined on the Pacific Coast by Magic Circle rival Allen & Overy, which burnished its signature credentials in complex financing work through the addition of a renewables-focused project finance team from Akin Gump in Los Angeles, including ranked partners Daniel Sinaiko, Matthew Nesburn and Andrea Wang Lucan, as well as adding the highly-rated John Marciano in Washington, DC. Almost a third of lawyers at the UK's elite Magic Circle law firms attended Oxford or Cambridge universities, new data published today shows. This cookie is set by doubleclick.net. (Part 2), Shared bathrooms student accommodation Southampton. No surprises here. Is Allen & Overy the law firm for you? Another ray of hope: law firms are beginning to show that they're less obsessed with university name and grades. These are the Magic Circle law firms: Allen & Overy. A list of the universities attended by partners at top City of London law firms has been published. Clifford Chance, headquartered in London, is one of the world's largest law firms, both by size and revenue. This feature was first published in February 2016, Read our True Picture review of 130 top law firms, The school background of trainee solicitors. The Student Room and The Uni Guide are both part of The Student Room Group. 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. 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. BTEC Business Unit 6 (Principles or Management) May 2nd Resit (2023), Which poems from love and relationships should i memorise? But there are new discoveries, and questions you should ask, like what this tells us about the firms, what your prospects are and who your colleagues will be, and then deeper concerns arise about social mobility in the law. This is no surprise given the dominance of the duo in academia. The cookies is used to store the user consent for the cookies in the category "Necessary". Registered in England and Wales with Company Number 08037587. Sign up for our newsletter to boost your commercial awareness. The Student Room and The Uni Guide are both part of The Student Room Group. A natural target for ambitious go-getters London may be, but theres a mutual attraction going on. The trope explained above that in the eyes of the more prestige-obsessed graduate, London is the be-all and end-all is visible here. 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. Read one of our most popular free guides - Magic Circle Law Firms: The Ultimate Guide - here! TSR Decisions Drop In 17th April - 5th May. Most sources from overseas flocked to London's largest players and US firms operating in the capital places that especially value trainees with international backgrounds and additional language skills. The term was coined by legal reporters in the 1990s[1] and is generally considered to include the following five law firms: Allen & Overy; Clifford Chance; Freshfields Bruckhaus Deringer; Linklaters; and Slaughter and May. The purpose of the cookie is to enable LinkedIn functionalities on the page. On our D&I platform we'll be taking a thorough look at legal industry issues. These cookies ensure basic functionalities and security features of the website, anonymously. At national firms those with various offices throughout the UK a clear winner emerged: Manchester took centre stage, leaving Durham some way behind. There isn't. The name first appeared in 2005 and was thought up by The Lawyer in response to the pre-existing phrase 'magic circle', used to describe the five leading firms headquartered in the UK. 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. (Part 2), Shared bathrooms student accommodation Southampton. During my Year 13 work experience, I spoke to trainee solicitors at LinkLaters & Clifford Chance; both people seemed very normal, in fact they actually appeared to be fairly shy when I was talking to them. The biggest percentage jump was claimed by the non-Russell bunch: together they now accounted for almost a quarter of the trainees. 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. Sign up to our regular updates! Overseas students were the top earners, according to the research, with an average newly qualified salary of 88,384. Out of all the Oxford and Cambridge graduates we interviewed, over 80% bagged a contract at a City firm. The research shows 76 per cent of trainee lawyers at the UKs leading 139 law firms are Oxbridge and Russell Group graduates. 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. Got questions about the SQE? These cookies will be stored in your browser only with your consent. Find out how they work - and how you can get one. 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. ", "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. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. The latter two are the only universities outside of England to rank at all. It's the full package that recruiters are after: the more you prove you can offer that, the less your university will matter. These universities frequently rivalled or overtook Oxbridge in the charts. At these firms, we spoke to graduates of58 universities. Oxford supplied the most trainee lawyers in 2016-18, with Cambridge in second place, followed by Bristol, Durham, Nottingham, Exeter and Warwick. Nearly one in four of our London interviewees had an Oxbridge degree. To view the latest research for 2019, click here. 1. Less established US firms concentrate their recruitment efforts on the 'top' universities in order to increase their prestige and position in the London market. However, almost 30% of our overseas sources gained their degree in the Republic of Ireland. It shows that a whopping 44% of partners at firms in the magic and silver circle attended . This is a analytic and behavioural cookie used for improving the visitor experience on the website.
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