Here, we break down the facts. The term has also been used to describe the most prestigious barristers' chambers in London. The cookie is a session cookies and is deleted when all the browser windows are closed. We also encountered more overseas graduates than we did across the separate regions. London is a global legal hub only rivalled by New York. [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? Instead this is simply the raw data broken down. There were over 107 UK universities mentioned in our data from 2010-2018. We have only looked at undergraduate degrees for the purposes of this study. Masaryk University; is it worth going as an international student? 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. 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". Away from the capital, the configuration shifted again. In the past three years we've asked 2,300 trainees at 124 firms which university they went to. E.g. This page was last edited on 19 January 2023, at 22:04. Between 2013 and 2015 we interviewed over 2,300 trainees for our True Picture reviews. Trinity College Dublin was the most commonly attended university in this entire category (putting it in the same ballpark as St Andrews, UEA and UWE). 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. Will taking Further Maths as a third subject be a disadvantage to apply for uni? 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. The figures were compiled by the Chambers Student Guide from interviews with 2,500 trainee lawyers over the last three years. But this ranking doesn't reveal the full story. The Russell Group (including Oxbridge) supplied 76.5% of trainee lawyers. 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 is used to present users with ads that are relevant to them according to the user profile. We don't describe ourselves as a Magic Circle firm in any of our marketing material. [1] The members of the Club of Nine had an informal "no-poaching" agreement and the firm's senior partners would meet. 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. Just take a look at our table below: What do they look for in Allen & Overy training contract candidates? Clifford Chance, headquartered in London, is one of the world's largest law firms, both by size and revenue. 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. 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 . [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). The term 'silver circle' implies there should be a golden shape before it. Firms are increasingly employing a more holistic approach to each application, meaning that they will consider applications from a range of candidates on an individual basis. The subject that was studied can influence how a university appears. Going to University: A Student's Perspective. James is a dual-qualified practitioner in both civil law (an advocate in Indonesia) and common law legal systems (a solicitor in England & Wales). 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). ", "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. 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. On our D&I platform we'll be taking a thorough look at legal industry issues. Want to impress interviewers with your commercial awareness prowess? 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. 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. We also found that London attracted the highest proportion of overseas graduates. magic circle law firms, I was surprised to see LSE placed quite low. 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. This cookies is set by Youtube and is used to track the views of embedded videos. Used by Microsoft as a unique identifier. The link between prestigious institutions and prestigious careers is difficult to challenge. It is worth doing some research to see if this is an option for you. The . These cookies track visitors across websites and collect information to provide customized ads. Almost a third of lawyers at the UK's elite Magic Circle law firms attended Oxford or Cambridge universities, new data published today shows. 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. 80 universities were mentioned by non-City trainees compared to just 67 mentioned by their City counterparts. The prestige, the career opportunities, the money and the city itself combine to attract the brightest, hungriest graduates. It is the Magic is in the air at this Biglaw firm! However, entry into the Magic Circle is . Its all about the grades, we hear and, rightly, firms conceal their preferences for certain universities. 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? 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). Less established US firms concentrate their recruitment efforts on the 'top' universities in order to increase their prestige and position in the London market. 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. What sets them apart from other firms? If, for example, you have mitigating circumstances which have affected your academic performance, a firm will take these into consideration during the application process. And by the way, just 1.8% of the UKs student population of 2,266,075 study at the universities of Oxford or Cambridge. And how can you get to work for them? 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 Russell Group dominates the market at 81.4%. We also found that London attracted the highest proportion of overseas graduates. Linklaters lawyers and graduate recruiters share their advice. "[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. Even the top law firms do not specify attending a particular university, or particular group of universities in their application process. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. 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. The Super Boutique law firms comprise Cravath, Swaine & Moore; Sullivan & Cromwell; Paul, Weiss, Rifkind, Wharton & Garrison; Slaughter and May; and Wachtell, Lipton, Rosen & Katz. Its encouraging, but as we can see from nine years of tracking this data, progress is happening slowly. Eight musts for training contract applications, How to succeed at interviews and assessment days, True confessions of a training contract applicant. The cookie is used to store and identify a users' unique session ID for the purpose of managing user session on the website. 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. DLA Piper, Eversheds, Shoosmiths, Trowers & Hamlins. 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, . 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 in Europe. Scared about job prospects at Leicester uni. TSR Decisions Drop In 17th April - 5th May. 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. 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. To help you make an informed decision, wed like to put you in touch with our partner law schools. Adjusting for this would have to consider the size of law courses, proportion of law and non-law, and wed just get bogged down. 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. 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. 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. 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. Why are there so many Oxbridge trainees? For those in their first-year of uni, now is the time to start thinking about getting . Nearly one in four of our London interviewees had an Oxbridge degree. Axa warns burnout is burning a hole the economy, From cow herder to corporate chief meet the man who leads Axas City division. Get on a law firm work experience programme. Youve heard of the Magic Circle, but did you know that theres also a Silver Circle? 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 Chambers Student Guide survey recently published a study examining which universities law firms recruit most from. 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. So this analysis isnt definitive, but our sample size is significant and indicative of broad recruitment trends. This feature was first published in February 2016, Read our True Picture review of 130 top law firms, The school background of trainee solicitors.
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