Conducted over a period of three years, the survey data was based on 2,300 interviews with trainees at 124 law firms. Rather than instantly concluding Russell Group unis are better for getting a training contract, its worth noting top unis are often the ones pumping out larger numbers of law students. If you're currently studying at a Russell Group university, bear in mind what we've just mentioned above. 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. You also have the option to opt-out of these cookies. Oxbridge grads make up a quarter of London trainees and a fifth of all trainees. TSR Decisions Drop In 17th April - 5th May. 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. This page was last edited on 19 January 2023, at 22:04. However, this doesnt mean that they exclusively hire local candidates. Its important to remember that this line isnt people from overseas, its just people who conducted their undergrad not in the UK. 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. 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. These universities frequently rivalled or overtook Oxbridge in the charts. With law firms starting to become more open minded about university background, we're hoping that the next time we crunch our numbers well see a greater number of universities represented. 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). At these firms, we spoke to graduates of46 different universities. [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. One magic circle interviewee was a single mum with two kids and had graduated through the Open University. We found that universities like Northumbria, Kent, Reading, UEA and UWE played a much greater role in supplying trainees to national and regional firms. [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. Career change to Law contemplationwill I be too old at 33? 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. However, having a degree from a Russell Group university does not automatically land you a vacation scheme or training contract, and candidates from these universities will be considered on exactly the same basis as a non-Russell Group university candidate. What do they look for in Freshfields training contract candidates? The purpose of the cookie is to determine if the user's browser supports cookies. A unique look at who the Magic Circle of law firms are and how they have continued to expand their growth in the US with additional hires. At these firms, we spoke to graduates of 68 universities. London-centric, sky-high PEP, top-tier work, an aura of prestige: Slaughter and May is far more like Macfarlanes than the Magic Circle quartet it is commonly lumped in with. 76.5% of trainees at the leading 130+ firms are Oxbridge and Russell Group graduates, London universities topple Oxbridge for graduate earnings in law, Non-law graduates earn 6% more than law grads, Regional firms prefer regional universities. This will skew the results in favour of the larger institutions. To view the latest research for 2019, click here. I am sharing my experience in the hopes that I can aid aspiring lawyers and support others in taking advantage of similar opportunities. magic circle law firms, I was surprised to see LSE placed quite low. You'll be familiar with this declaration from poring over law firms' grad recruitment pages. Barristers from it worked on 64 matters for the Magic Circle law firms since 2015. Who has been hit hardest by 21bn of pandemic fraud, and will the taxpayer EVER get it back? Remember everyone, we depend on your tips to stay on top of important bonus updates, so when . 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. What universities for magic circle law firms? - The Student Room 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 . London is at about $900,000 and New York's RPL is about $1.1 million. They are the five UK-based firms considered to be amongst the most prestigious in the world. This cookie is set by doubleclick.net. 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. LLM? You'll notice that the Midlands and Northern-based Russell Group universities did particularly well here. Could someone read this and share their thoughts and corrections? Sal Francis Morton, senior research analyst at Chambers Student Guide, said: 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. ", "Freshfields in the US: Don't call us magic circle", "Linklaters' Simon Davies: "The magic circle isn't what it used to be", "Revealed: The magic circle's barristers chambers of choice", "An obituary for the term 'Big 6' law firms in Australia", "Elite 'red circle' firms Zhong Lun and Jun He plot merger as consolidation grips China legal market", https://en.wikipedia.org/w/index.php?title=Magic_Circle_(law_firms)&oldid=1134664562. Used by Microsoft as a unique identifier. Want to impress interviewers with your commercial awareness prowess? All of the 'Magic Circle' law firms and barristers' Law firms' preferred universities - Chambers Student Guide Web 2016 report: what universities do law firms recruit most from? 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 merged with Bruckhaus Westrick Heller Lober and Deringer Tessin Herrmann & Sedemund in 2000; Relevant experience in one or more of their practice areas. Arguably for this reason, it was not included in the initial Magic Circle. For example, Leicester runs a very well-regarded law degree, and so has a strong showing. Hi all, After doing some research on the percentage of students from different universities at. I also emphasise neal95's post on choice of unis too. It's mainly something that comes up when we talk to journalists or they talk to us. Select the law schools youd like to hear from. On our D&I platform we'll be taking a thorough look at legal industry issues. 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. 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. Oxford, Cambridge and definitely Durham dont have big legal markets. PGDL? 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. Each trainee told us where they completed their undergraduate degrees. The prestige, the career opportunities, the money and the city itself combine to attract the brightest, hungriest graduates. 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. [20], The following barristers' chambers in the United Kingdom are occasionally, by analogy, described by commentators as the Bar's Magic Circle:[21][2], In August 2018, research from The Lawyer, however, showed that South Square Chambers received more instructions from the Magic Circle law firms than any other chambers. This cookie can only be read from the domain they are set on and will not track any data while browsing through other sites. This cookie is a browser ID cookie set by Linked share Buttons and ad tags. Magic Circle Partnerships' Oxbridge and Private School Bias Exposed [12], UK law firms, including Magic Circle law firms, have experienced increased competition from US law firms both domestically (from US law firms with a UK presence) and internationally.[16][17][18]. This cookie is used by vimeo to collect tracking information. Less established US firms concentrate their recruitment efforts on the 'top' universities in order to increase their prestige and position in the London market. 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. [3], In 2004, Slaughter and May's then senior partner, Tim Clark, said: "It's a funny concept. 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. At the time, these firms were Allen & Overy; Clifford Chance; Freshfields Bruckhaus Deringer; Linklaters; and Slaughter and May. 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. Youve heard of the Magic Circle, but did you know that theres also a Silver Circle? No surprises here. . 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. "[1], In 2013, The Lawyer argued that Clifford Chance and Slaughter and May should no longer form part of the Magic Circle. Allen & Overy: Internship Insight | The Lawyer Portal Big Three law firms, an informal term for leading law firms in New Zealand. [2], The Magic Circle has been termed a "journalistic device, coined by legal reporters in the wake of the break-up of its predecessor, the 'Club of Nine'". Mad-Mullah. Number of Individuals Rankings in Chambers USA. 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. 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. In the past three years we've asked 2,300 trainees at 124 firms which university they went to. While Magic Circle firms have long been considered fixtures of the US legal market since opening their doors in New York almost half a century ago, the recent glut of hiring and lateral expansion can be seen as an acceleration of these firms' attempts to crack the US market in a much bigger and more eye-catching way. In essence, the silver circle refers to the band of firms that fall just . Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. We also found that London attracted the highest proportion of overseas graduates. Sign up to our regular updates! The majority of our trainee interviewees 81.4% hailed from a Russell Group university. Magic Circle Interview Tips: Things to Be Aware of . 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. We know that anyone can become a lawyer, regardless of where they completed their undergraduate degree. [citation needed] [1] The members of the Club of Nine had an informal "no-poaching" agreement and the firm's senior partners would meet. It does not correspond to any user ID in the web application and does not store any personally identifiable information. These cookies ensure basic functionalities and security features of the website, anonymously. So this analysis isnt definitive, but our sample size is significant and indicative of broad recruitment trends. 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. It sets a unique ID to embed videos to the website. The bottom line. If you're currently studying at a non-Russell Group university, do not be discouraged by this report. However, almost 30% of our overseas sources gained their degree in the Republic of Ireland. The Chambers USA 2021 guide will be released in May 2021. 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. From Jamaica to Australia, from Brazil to Ukraine: our interviewees in this category came from all over the world. The Chambers Student Guide survey recently published a study examining which universities law firms recruit most from. Is Allen & Overy the law firm for you? 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 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. Masaryk University; is it worth going as an international student? 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. What's more, such large law firms usually give their employees a narrower remit - meaning that they suit those who are certain of their preferred specialism. Durham has taken a slide too. What happens if i dont get my A-level predicted grades for Rice University? 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? But which universities do Magic Circle Firms really recruit from? As readers will of course know, the magic circle comprises Linklaters, Slaughter and May, Allen & Overy, Clifford Chance and Freshfields. Why are there so many Oxbridge trainees? Visit the guide page below for more information. This cookies are used to collect analytical information about how visitors use the website. PDF What counts as a 'good' university if I want to be a solicitor? 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. 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? What's more, non-Russell Group trainees popped up in all of our categories. 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). 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.. At most firms youll meet a balance of law and non-law grads. Law School in UK top 5 for law firms' preferred 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. 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. 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 . UMBRA | Junianto James Losari This cookie is set by GDPR Cookie Consent plugin. This cookies is set by Youtube and is used to track the views of embedded videos. Oxford and Cambridge moved down the chart in all areas (and sometimes disappeared from it altogether). 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. Key differences between Magic Circle Law firms - Bright Network What do they look for in Clifford Chance training contract candidates? Our interviewees came from a total of 88 universities over the past three years. Almost a third of trainee lawyers at elite Magic Circle law firms We then combined this with our data all the way back to 2010, when most of the current. Out of these, Oxford and Cambridge came out on top, together accounting for almost a fifth of trainees surveyed. 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. It does not store any personal data. [1] Generally, the Magic Circle firms have among the highest earnings-per-partner and earnings-per-lawyer of UK-headquartered law firms. Want a more specific insight into each of these firms? (Part 2), Shared bathrooms student accommodation Southampton. 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. Linklaters. The link between prestigious institutions and prestigious careers is difficult to challenge. Does it matter which university you go to for law? idk01. It was argued that by 2023 global law firms will rather be split between the Global Elite law firms, International Business law firms and Super Boutique law firms. Submit. Take our new Which Magic Circle Law Firm is Right For Me? The Russell Group dominates the market at 81.4%. What universities have lawyers at the top firms attended? The cookie is used to store and identify a users' unique session ID for the purpose of managing user session on the website. 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. 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? 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. Will taking Further Maths as a third subject be a disadvantage to apply for uni? Get on a law firm work experience programme. 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. This survey gives the real story on entry requirements. What universities do Magic Circle Firms recruit from? . We also found that London attracted the highest proportion of overseas graduates. Chambers Student, the students companion to the legal profession, gives the truth about law firms and the Bar. And is it necessary to attend one to stand a chance of securing a job at one of these firms? The remaining Russell Group universities were also represented strongly, while interviewees from other UK universities were comparatively low. London is a global legal hub only rivalled by New York. In three years the number of Oxbridge grads taken on by City firms has dipped by 2.5%. "[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. 12 Pro Interview Tips from a Magic Circle Partner 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. These firms are some of the most prestigious in the . As firms recruit on a case to case basis, and are keen to make entering law as accessible as possible, the . Here we plotted university background against eventual NQ earnings. This is despite Oxbridge students making up less than one per cent of each years graduating class. BTEC Business Unit 6 (Principles or Management) May 2nd Resit (2023), Which poems from love and relationships should i memorise? (Part 2), Shared bathrooms student accommodation Southampton. 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. Instead they're becoming more interested in simply sourcing candidates with the right qualities to make them a great lawyer. City firms are either more selective, or targeted more heavily by Russell Group students. 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. London is a global legal hub only rivalled by New York. 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. A list of the universities attended by partners at top City of London law firms has been published. Do I need a law degree to get into the magic circle? Part of the Dukes Education family Together we're extraordinary. Oxford and Cambridge feature considerably lower outside London. However, entry into the Magic Circle is . 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. Clifford Chance appoints ULaw as exclusive SQE prep course provider 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. What are you looking for? Other notable Russell Group unis which perform disappointingly include York (2%), Warwick (3%) and LSE (4%). For example, Manchester and Nottinghams undergrad enrolments are over three times the size of St Andrews. Other firms have since followed suit, in a bid to help remove bias from the process and allow recruiters to focus solely on an individual's qualities and responses. We interview a random selection of trainees at 125 law firms. The coloured arrows indicate rises or falls compared to our 2012 survey. There is a 25% difference with regard to Revenue Per Lawyer. 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. This cookie is set by GDPR Cookie Consent plugin. 80 universities were mentioned by non-City trainees compared to just 67 mentioned by their City counterparts. The . 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. 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. Pay at the top US firms can outstrip the Magic Circle with leading firms such as Kirkland & Ellis and Milbank, Tweed, Hadley & McCloy paying first-year lawyers up to $190,000 (151,000). Has the Magic Circle Lost Its Magic? | The American Lawyer 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. These results mostly relate to the larger commercial firms that take part in our guide. BTEC Business Unit 6 (Principles or Management) May 2nd Resit (2023), Which poems from love and relationships should i memorise? The cookies is used to store the user consent for the cookies in the category "Necessary". Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website.
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