News

Number of training contracts registered jumps by nearly 500 in a year

By on
23

Law students welcome first major increase since financial crash

lead1

The previously dwindling number of training contracts has experienced a welcome boost.

The Law Society’s latest statistics report shows that training contract numbers increased from 5,001 to 5,457 in 2014-15, a marked surge of 456 (9.1%).

Though the new figures are still nowhere near the number of people graduating with law degrees each year, the new stats paint a promising picture. Recent legal market trends show that training contract numbers have failed to recover from their dramatic pre-2008 financial crash high — when they hit a whopping 6,303 — so the figures announced today go against the grain and will no doubt be welcomed by aspiring solicitors.

Perhaps unsurprisingly, the research has confirmed that training contracts are most heavily concentrated in the capital. According to the report, just over half (51.5%) are based in London. About a third (33.8%) of all training contracts are offered by City firms, the likes of magic circle giants Linklaters and Allen & Overy offering 110 and 90 training contracts a year respectively.

Interestingly, the growth in trainee places occurred to a much greater extent in the smaller firms as the corporate law giants found themselves treading water. While the share of training contracts offered by firms with 26 or more partners dropped from 54.9% to 49.4%, the proportion of places at small firms with two to four partners rose by 20%. Firms with five to 10 partners saw an even bigger 45% growth.

It’s still the norm for aspiring solicitors to complete their training in a law firm; this is the route taken by 91.7% of the 2014-15 trainees. However, the number of training contracts offered in commerce and industry has experienced a modest but notable increase of 19.4%, from 185 to 221.

The positive trend continues into the more senior ranks of the profession, as the number of practising solicitors has also increased by 2.3% to 133,367.

23 Comments

Anonymous

I hate my training contract.

(18)(0)

A

Is it for bwf?

(1)(0)

Disillusioned trainee

Same here – training at JonesDay turned out to be an utter nightmare.

(22)(1)

Anonymous

Not enough coke to go around?

(6)(0)

Anonymous

Plenty where I’m at mate, come and get some lololol

(5)(0)

Nobody

Eh? Do spill. I have a vac scheme there this summer.

RoF says that lots of trainees and secretaries ‘romp’ around with the senior figures. Is this true?

(6)(0)

Anonymous

I was knocked out in interview for their vac scheme. They didn’t give feedback (the bastards).

In the end I went to MC instead. Looks like I dodged a bullet.

(8)(0)

Anonymous

I love Jones Day. Next week we’re getting in bowling-midgets – just like in The Wolf of Wall Street.

(11)(0)

Charlie from JonesDay

Hah, top banter mate. You’d fit in well.

(5)(1)

Anonymous

Is it really?

(0)(0)

Anon.

From a friend who works there:

It has no ‘seats’ and a knock-door system. You have to go and search for work.

People who get the most work are people who get on better with the partners, which are usually attractive women and boisterous rugby players.

As one can imagine, in such situations there are quite a few sleazy partners.

I don’t think there is a formal point at which you are qualified either.

So yes, make of that what you will.

(8)(0)

Insider nous

This.

I’ve trained there before jumping ship and pretty much the whole office consisted of either ‘Yah, I’ve been captain of rugby team, chundered everywhere, rah’ type, private school lads, or fairly attractive bimbos.

It’s essentially lore of the firm that some of the partners have dibs on some of the prettier female trainees and then openly proposition them at the firm’s evening outings, even though all of them are married, often with several kids.

If that’s your kind of fit, then be my guest, but I personally found the whole environment intolerable.

(13)(0)

Anon.

For my own curiousity, what happens if a trainee a) refuses to sleep with partners or b) Aren’t rugby players?

Would they just never get any work? How would they qualify?

(5)(0)

Anonymous

They don’t exist. JD trainees know what they’re getting into.

(7)(1)

Anonymous

They usually get weeded out at the Vac Scheme / TC interview stage – the HR know who to look for – if you’re not the cut, you’re out.

Several of my mates who are internationals / EU students / UK but not laddish enough got the boot at the interview stage, often after being essentially told by others on social outings that they don’t like such types in their firm.

Most of them got spots across the MC/US firms in the City, and they thank their lucky angels for dodging such a bullet.

(6)(0)

Anonymous

Your first paragraph describes probably all of the top 20 city firms.

(1)(0)

Anonymous

Wow, how is it like in practice?

(1)(0)

Anonymous

Why

(1)(0)

C

Why do you hate it? Didn’t you know what you were getting yourself into?

(1)(0)

Anonymous

Give it to me then. ..

(2)(0)

Anonymous

Lol how did this become a slate Jones Day post?

I did a vac-scheme there last summer, and most of what has been said is true.

I think the whole pervy partners/trainees is overstated, and fairly standard across City law.

On the vacation scheme, you’ll just notice that the people with the most work will be a ‘certain’ mould. Basically partners will ‘find’ work for some people, whereas for some others, it’ll be a simple, no sorry.

*You qualify after two years, just like all other trainees *

(2)(1)

Anonymous

None of this Jones Day hatred comes because the firm cut donations to Legal Cheek ofcourse..

(0)(3)

Anonymous

There aren’t even any JD articles though – people just randomly start slating the firm in random articles.

(1)(0)

Comments are closed.