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. With this intriguing, informal nickname comes an increasingly high reputation; described by The Guardian writer Laura Paddison, theyre the firms that promise top graduates a glittering name on their CV, A-list corporate clients and excellent training. [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? "[1], In 2013, The Lawyer argued that Clifford Chance and Slaughter and May should no longer form part of the Magic Circle. Guys, do you prefer to be called hot or handsome? There is a 25% difference with regard to Revenue Per Lawyer. Also worth mentioning are Southampton, Edinburgh and Cardiff, which appear almost every year too. They are the five UK-based firms considered to be amongst the most prestigious in the world. There were over 107 UK universities mentioned in our data from 2010-2018. With the competition for training contracts becoming increasingly tough, candidates are becoming more conscious of their educational background as they pursue a place at a highly competitive Magic Circle firm. Increase your chances of success at an assessment centre. Sign up for our newsletter to boost your commercial awareness. Incidentally, Oxford (24%) did better than Cambridge (20%). A natural target for go-getters London may be, but theres a mutual attraction going on. The . Who has been hit hardest by 21bn of pandemic fraud, and will the taxpayer EVER get it back? Throughout your education each of these three elements will develop the other two its what employers mean by well-rounded. This cookie is set by Youtube. To help you make an informed decision, wed like to put you in touch with our partner law schools. Durham is the best out of your choices, but all will be fine, all are Russell Group and are visited by the magic circle firms. 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. Next: How to choose your perfect law firm >>. The impressive growth of law firms expanding their coverage across the United States. Everyone on TSR seems to go to Oxbridge, except a couple went to Oxford Brookes and Kings College. Want regular information and advice on how to get into law? Chambers Student, the students companion to the legal profession, gives the truth about law firms and the Bar. PGDL? We also found that London attracted the highest proportion of overseas graduates. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. This cookie can only be read from the domain they are set on and will not track any data while browsing through other sites. [3], In 2004, Slaughter and May's then senior partner, Tim Clark, said: "It's a funny concept. This year also saw Allen & Overy overtake Clifford Chance in the number of rankings the firm itself holds, aided in part through the expansion of the USA Guide's Capital Markets and Projects rankings in the 2021 edition of the USA Guide. magic circle law firms, I was surprised to see LSE placed quite low. But which universities do Magic Circle Firms really recruit from? At the time, Herbert Smith was languishing in the corporate stakes, and so was consigned to the outer darkness. A list of the universities attended by partners at top City of London law firms has been published. 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 . The International Business law firms comprise CMS; Ashurst; Baker McKenzie; DLA Piper; Hogan Lovells; Jones Day; King & Wood Mallesons and Norton Rose Fulbright. 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. Mad-Mullah. Read more: Slaughter and May boosts pay packet for newly qualified solicitors to 100,000 as Magic Circle pay war rages. We then combined this with our data all the way back to 2010, when most of the current Chambers Student research team were still gamboling about the school field in PE kit (kidding, were more the library type). NQuids inThe university you attend does determine your employability and earning power, but prestige isnt everything, as a glance at this table below will show. Oxford and Cambridge feature considerably lower outside London. Submit. [2] It wrote "Slaughters fits the silver circle bill in every respect. Organisations are beginning to recognise that talent is found everywhere not just in the most prestigious universities, which struggle themselves with a bias towards the privileged. 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. Out of these, Oxford and Cambridge came out on top, together accounting for almost a fifth of trainees surveyed. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. The cookie is used to store the user consent for the cookies in the category "Performance". At these firms, we spoke to graduates of46 different universities. 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. In his career, he has practiced with the largest law firm (with an international affiliation) in Indonesia and one of the magic circle law firms in Singapore, with a stint at the firm's headquarter . 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. [1], The Silver Circle is an informal term for perceived elite corporate law firms headquartered in the United Kingdom that are the main competitors for the Magic Circle in the United Kingdom. These universities frequently rivalled or overtook Oxbridge in the charts. In comparison to the overall picture of London, the top end of the market held a higher proportion of Oxbridge graduates; a similar amount from the remaining Russell Group universities; and fewer trainees from other UK institutions. Linklaters lawyers and graduate recruiters share their advice. In the past three years we've asked 2,300 trainees at 124 firms which university they went to. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. 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.. Choosing a University Other Things to Consider. Magic Circle members are extremely prestigious, and consistently rank among the highest earnings per partner and earnings per lawyer in the UK. If youre looking for firsthand interview tips from a Magic Circle partner, make sure to look at our blog post 12 Pro Interview Tips from a Magic Circle Partner with all the practical advice you need to have your best interview yet! This is used to present users with ads that are relevant to them according to the user profile. They are the five UK-based firms considered to be amongst the most prestigious in the world. 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. The short answer is no. 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. Arguably for this reason, it was not included in the initial Magic Circle. When we leave London, we find Oxbridge only coming in at ninth and tenth on the chart. The term was coined by The Lawyer magazine in 2005 in response to the pre-existing term, Magic Circle. Read one of these interviews with Magic Circle employees! I don't know where the term came from or who founded it. All legal teams work best with the variety of perspectives both groups bring. Take our new Which Magic Circle Law Firm is Right For Me? If you have a look at the Law section there are several official lists based on reputation, partnership prospects, relationship success and salary expectations compiled by experts with their fingers on the pulse of the MC. [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. To find out about qualifying as a lawyer from overseas, read on>>, City (above including the magic circle and US firms): firms focused on City business sectors, such as finance, capital markets, corporate transactions, investment, insurance, energy. This cookie is set by GDPR Cookie Consent plugin. At the time, these firms were Allen & Overy; Clifford Chance; Freshfields Bruckhaus Deringer; Linklaters; and Slaughter and May. The arrival in Northern California demonstrates Freshfields' rapidly-growing strength in the USA, fuelled by a significant expansion in the number of its partners through lateral hiring. What are you looking for? Can you do anything with a 2:1 in Oxford law? Although a rather old-fashioned term, the phrase the Magic Circle has only been used since the late 1990s; before then, the prestigious law firms were called the Club of Nine, and included Lovells (now Hogan Lovells), Norton Rose (now Norton Rose Fulbright), Herbert Smith (now Herbert Smith Freehills) and Stephenson Harwood. Or a Magic Circle partner salary? 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. Used by Microsoft Advertising as a unique ID for visitors. Freshfields Bruckhaus Deringer. How does a non-law graduate prepare for the SQE exams? How many we interview depends on the size of the firm - we might talk to every trainee a smaller firm has, and maybe as many as 20 in the magic circle firms. 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. Boost your law career for free. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". With this mass of responses we crunched the numbers to reveal which universities funnel the most trainees into the market and what segment of the market. 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. This cookie is installed by Google Analytics. [3], In 2014, it was reported that Freshfields Bruckhaus Deringer wished to discard its Magic Circle designation in the US in favour of being part of the Global Elite. The term 'silver circle' implies there should be a golden shape before it. 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. The firm has taken on a number of student-related initiatives including Spark, a five-day scheme that provides first-year students with an inside view of the firm, and which this year opened its . Meanwhile, Allen & Overy also saw the arrivals of Paul Keller and Adam Sofen in 2020, from Norton Rose Fulbright and Sullivan & Cromwell respectively, while Clifford Chance added Department of Justice antitrust chief Peter Mucchetti and Linklaters welcomed Schulte Roth investment funds partner Brad Caswell last year. It's mainly something that comes up when we talk to journalists or they talk to us. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. The Russell Group (including Oxbridge) supplied 76.5% of trainee lawyers. Got questions about the SQE? Hi all, After doing some research on the percentage of students from different universities at. For those in their first-year of uni, now is the time to start thinking about getting . These cookies ensure basic functionalities and security features of the website, anonymously. In 1920, Linklater & Co merged with Paines Plythe & Huxtable, a firm that had been founded by a descendent of one of the founding fathers of the United States, Thomas Paine. All the resources you need to research law firms and barristers' chambers, which struggle themselves with a bias towards the privileged. A firm that has a high regional strength, for example, may be more inclined to hire a graduate from a local university and most of the applicants to that firm may, inevitably, be from the local area and may have attended a local university. What do they look for in Clifford Chance training contract candidates? Magic/Silver Circle law firms often require you to have a minimum of AAB at A-level. 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. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. Quiz now! The research shows 76 per cent of trainee lawyers at the UKs leading 139 law firms are Oxbridge and Russell Group graduates. There are also a number of options now available at some firms which do not follow the traditional training contract route. LLM? 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. Subscribe to the City A.M. newsletter to have our top stories delivered directly to your inbox. We also use third-party cookies that help us analyze and understand how you use this website. 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. Imperial College, meanwhile, concentrates heavily on science and technology subjects and so naturally features less prominently. Considered the oldest international law firm in the world; Original partner Samuel Dodd was appointed solicitor to the Bank of England Freshfields have continued to be the legal advisor to the bank ever since; Appointed the first legal services provider to the London 2012 Olympic and Paralympic Games. In the past three years we've asked 2,300 trainees at 124 firms which university they went to. The ANONCHK cookie, set by Bing, is used to store a user's session ID and also verify the clicks from ads on the Bing search engine. To view the latest research for 2019, click here. How likely is a UK property market crash and what IS happening with house prices? For most firms, a 2:1 is the standard academic expectation, but neither the degree title or the university you obtain the degree from is specified. Why are there so many Oxbridge trainees? In this portion of the London market, we began to see a little more variety: fewer Oxbridge graduates, more from the remaining Russell Group members and a stronger showing from other UK universities. 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. This cookie is installed by Google Analytics. 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. Those who argue that both university admissions and law firm hiring is meritocratic should take a look at our School Backgrounds of Trainees report, which showed that an undeniable bias towards privately educated graduates exists in the profession.
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magic circle law firms' preferred universities