Struggling to figure out which law firms best suit your career aspirations? The below advice should help you decide where to focus your applications…
Magic Circle law firms
The Magic Circle is an informal term for the five most prestigious law firms headquartered in the UK. Based in London, these firms are:
Four Magic Circle firms - Clifford Chance, Freshfields Bruckhaus Deringer, Allen & Overy, and Linklaters - fall within the ten largest law firms in the world by revenue, with Slaughter and May appearing within the top 50.
Magic Circle members are extremely prestigious, and consistently rank among the highest earnings per-partner and earnings per-lawyer in the UK. What's more, such large law firms usually give their employees a narrower remit – meaning that they suit those who are certain of their preferred specialism.
However, entry into the Magic Circle is notoriously competitive. In addition, short-term promotion prospects are fairly low, you'll work under fairly close supervision, and working hours can be extremely long.
Four London-based commercial barristers' chambers are sometimes collectively referred to as the "Bar's Magic Circle". They are:
Law firms that are hiring now
Several top law firms are currently hiring. These include:
- Kirkland & Ellis
- Marks & Clerk
- Slaughter and May
- Travers Smith
- White & Case
Why you should consider smaller firms
The prestigious nature of Magic Circle members and other large law firms makes them an incredibly attractive proposition for graduates. However, there are several benefits of working for a small law firm. These include:
- Closer client contact - You'll have plenty of opportunity to engage with clients and boost your interpersonal skills. In many larger firms, this experience is reserved for senior employees.
- Enhanced promotion prospects - Fewer employees vying for management-level positions means that partnership within two or three years isn't out of the question. The smaller, more closely knit workforce means that it's easier to prove your worth to senior employees.
- Flexible working hours - Smaller law firms usually offer a relatively informal and relaxed working atmosphere, which extends to employee benefits such as work hours and dress code. The workplace is often much friendlier than at the larger firms.
- Greater hands-on experience - You'll probably be trusted to perform important tasks without supervision, something that you wouldn't experience in a larger firm. What's more, you'll probably have a greater say in your firm's direction; senior partners are often open to suggestions from junior colleagues.
- Varied workload - You'll probably work across numerous practice areas as, unlike many of their larger counterparts, smaller law firms are usually generalist. Working for a smaller law firm can provide you with a greater understanding of where your future specialism may lie.
Every law firm has its own culture - meaning that you're sure to find one that's compatible with your skills, personality and experience. For more information, see how to choose a law firm or search for a training contract.