Debt and unemployment does not a happy 20-something make. As explored by 1967 film The Graduate and US TV series Girls, the so-called “quarter-life” crisis can make graduates feel they’re aboard a one-way cruise ship to internship Antarctica.
With this in mind, Dundas & Wilson cancelling its vacation scheme just weeks before students were due to spend a fortnight at the firm probably hasn’t helped the mood.
The firm blamed “changes in the structure of the legal market” on its decision, which will save the firm approximately £12,000, this based on the fact that the advertised 24 vacation schemers were due to be paid around £250-£300 per week.
And for trainees at the firm, the news isn’t much better. The 11 trainees will have to scramble for just three available NQ positions, giving the firm a retention rate of just 27 per cent.
Oh and the firm has also deferred the London office’s next two trainee intakes.
Here’s hoping things pick up before the young and talented ditch the market in favour of those cruise ships.
Also on TheLawyer.com:
DWF has posted turnover of £188m at the close of 2012/13, an 84 per cent increase from £102m last year
Hogan Lovells has boosted its litigation and arbitration practice in the US with the hire of three senior partners from Chadbourne & Parke
Bristol firm TLT has posted a 10 per cent increase in revenue for the 2012/13 financial year to nearly £50m, with the news coming alongside the firm’s planned office opening in Manchester this summer