“Scramble for legal jobs intensifies as graduates flee banking sector” was the headline we ran on the front page of the Autumn 2008 issue of Lawyer 2B magazine.
“Scramble for legal jobs intensifies as graduates flee banking sector” was the headline we ran on the front page of the Autumn 2008 issue of Lawyer 2B magazine.
It therefore came as little surprise when Clifford Chance and Slaughter and May confirmed that they have been forced to close training contract applications from non-law students earlier than in previous years. Meanwhile, Lovells does not have any training contract vacancies for 2011 with the exception of a few places it has reserved for star performers on its summer vacation scheme.
What did surprise me, however, are the firms involved. Between them Clifford Chance, Lovells and Slaughters hire over 300 trainees. That is clearly not good news for those of you who are in the penultimate year of your law degree. And to be brutally honest I’m not sure what I can say to make you feel better other than to try and hold your nerve and be flexible.
For instance, it might be worth investigating gap years more seriously or indeed looking at training contracts in other sectors. I was putting contestants who were short-listed for the Lawyer 2B/BPP Law School essay competition through their paces at the judging day yesterday.
With the exception of one, all the students I met did not want to pursue a career in commercial law. Initially, I was disappointed but soon realised that by aspiring to work as a family or criminal lawyer didn’t make the students less interesting or ambitious. Indeed, I found it quite endearing and admired them for their open mindedness and free thinking.
That said no practice area is entirely immune. Though areas such as crime, family, human rights and personal injury may not suffer as badly during a recession they face their own problems with the squeeze in legal aid. And with limited help on offer with the cost of the LPC I suggest you only join the gold rush to the high street with your eyes wide open.
husnara.begum@lawyer2b.com
PS – congratulations to Sam Main from the University of Sussex who won our Nutshells competition. For those of you dying to know the odd couple out was Margaret and Denis Thatcher as the Iron Lady’s now deceased husband wasn’t a lawyer.
What?
Ultimately, you need to ask yourself what motivates you, if it’s the pursuit of wealth and an interest in business, head for the city. There is no doubt that the city will recover and in the long term city lawyers will benefit. If, on the other hand, you have a genuine interest in crime and family, don’t let the lower starting salaries deter you as you will presumably enjoy the work and if you’re good enough, you will rise to the top quicker.
More gloom from L2B
Well done all of you clever people for getting good marks in your GDL, LLM, GCSEs (!) but I’m afraid London law is a meritocracy, pure and simple. If you’re any good you’ll get (and keep) a good job, regardless of what you studied. If any of you (law or non-law) think that you’re somehow better because of what you studied at university you’ve got a rude shock coming. I note, incidentally, that just 9 of the 46 comments on this forum were posted outside normal working hours. Is it just possible that the people who really have commitment to the job or their studies are getting on with them rather than sniping at each other here?
PS – how are you showing ‘true commitment’ by doing two more degrees rather than applying for a job? Hardly shows cutting edge thinking or efficiency does it? Smells more like a true commitment to staying at university drinking cheap beer for another 4 years…
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Don’t worry, be happy
Since the floor cleaner at John Lewis is already a Partner, why note extend it to all the staff and be done with it. “Partnership” is an outmoded model and merely plays to vanity. Modern, commercially focused law firms can jettison it without worry.
Calm Down
To assume that a one size fits all approach to regulation would work is a nonsense. If you want to see what happens when an unsophisticated regulator tackles a sophisticated and complex operational structure, just take a look at what’s happening in the banking world.
It’s no more appropriate to expect the same regulator to asess performance of a High Street firm and a Magic Circle firm than it is to expect a High Street lawyer to tackle a multi-jurisdictional re-financing project (or a Magic Circle SP to do his own conveyancing!)