Categories:UK

Why the law’s no safe haven

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  • 'Generation Y'

    This meaningless phrase really makes me reach for the sick bucket.

    I seriously doubt that this generation is different in any significant manner to the generations that preceded it, despite what these terribly frustrated 'graduate recruitment heads' might think.

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  • T-t-talking about their gen-eration

    “I don't agree about the generations being the same, Mr Hutchinson - I'm only 29 and the trainees here all talk like Yanks ('tux' 'apartment' 'I figure' 'adorable', etc); have really annoying haircuts and like rubbish guitar bands whose names start with 'the'.

    “Any post-1960s ideological inheritance that my lot seemed to have has also gone out of the window: the trainees all seem overly impressed with appearance and with wealth, and the girls are quite happy to act as giggling dolly birds in a way that no self-respecting woman of my age would have done (what with feminism and all that).

    That seems like really quite a big difference - and I'm only old enough to be their older sibling, not their dad.”

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  • Student Utopia

    Apart from the few bright students who, in preparation for training contract interviews, are swatting up on the current economic downturn, most students are indeed relatively oblivious to it. But not without reason.

    At undergraduate level, it's simply the norm these days to borrow thousands every year from the Student Loan Company. For postgraduate law students (on the GDL and LPC), banks such as [major high street bank] offer professional trainee loans of up to £25,000!

    This lifestyle is not only one of easy credit, but also one where there is an expectation – from fellow peers to government ministers – that students will finish their studies with a large amount of debt.

    It’s not so much a case of tales of riches with which today’s students have been brought up; if anything, the unavailability of cheap credit is a concept which simply reverberates off the exterior walls of student unions and their digs.

    Rightly or wrongly, the realities of financial struggle in company boardrooms, family homes and managing partners' offices are a million miles away from most if not all students.

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  • Partner profits

    Totally agree - the legal profession should not be viewed as a safe haven but it takes time for perceptions to change.

    The overriding priority for large commercial firms is to preserve or increase partner profits and if this means wholesale redundancies so be it. We are not yet officially in recession, turnover at many firms is still increasing and has been throughout the credit crunch and yet we are witnessing large numbers of redundancies. Partner profits will continue to increase at the largest firms irrespective.

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