Confident of being kept on
How confident are you that you will be kept on at the end of your training contract?
Scores in this category vary dramatically between firms and, due to the recession, all scores are lower than last year, though perhaps not down as much as you might expect. We received many complaints about the 'uncertainty' and 'lack of transparency' surrounding the job offer process. Firstly, will there be a job for you at all; secondly, if you are offered a job, will it be in the department of your choice? Many trainees voiced concerns that although their firms' published retention rates are high, the chances of getting a job in your first choice department is certainly not guaranteed, with a significant number of trainees every year having to leave firms to pursue their chosen practice area. This is particularly true of small to medium-sized firms with one or two popular departments where competition for jobs is intense. It can also affect larger City firms where the focus is on corporate/finance, with limited options outside these areas (and for those qualifying in September 2009 fewer jobs in the corporate sphere too). US firms dominate this table, with their small, ambitious trainee intakes seemingly unrattled by the economic downturn and still pretty confident about being kept on – particularly at Skadden which has the top score in this category for the second year running. Cleary Gottlieb , Debevoise, Latham & Watkins, Covington & Burling LLP and White & Case LLP are the other big US finance firms to score well, while the two Magic Circle firms who regularly feature (Slaughter & May and Freshfields Bruckhaus Deringer LLP) maintain their positions, albeit with lower scores than last year. New entry Fladgate LLP appears to have optimistic trainees, while firms such as Olswang , Capsticks Solicitors LLP, Bird & Bird and Berwin Leighton Paisner LLP offer a variety of different practice areas and a good mix of clients. There are fewer small regional firms (some badly hit by economic problems) than in previous years, with only a few larger regional firms still highly confident (Burges Salmon LLP, DWF LLP , Wragge & Co LLP, Morgan Cole and Weightmans LLP – most of these having strong litigation, insurance or public sector offerings). The good news for candidates looking to choose a training contract now is that there is still plenty of optimism in the right kind of firm and, by the time you qualify, the recession will hopefully be a dim and distant memory!
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