What are they looking for in Allen %26 Overy training contract candidates? What are they looking for in Clifford Chance training contract candidates? The law firms in the Magic Circle are Allen %26 Overy, Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters, and Slaughter and May. Below is a more detailed explanation of each company. The report says that elite law firms, investment banks and consulting firms are only looking for recruits from the top 5, Harvard, Yale, Princeton, Stanford and Wharton, according to its research. You see, the applicants who are most successful when applying to Magic Circle law firms are those who have nurtured their relationships with lawyers and law firms over a period of months.
Magic Circle law firms don't want lawyers who focus solely on getting top marks; they're looking for people who can speak confidently with clients, who have extensive experience to leverage, and are interesting people to hang out with. Bryan Cave Leighton Paisner is also an international law firm with 14 offices in 10 countries around the world, including Russia, Singapore, Hong Kong and the United Arab Emirates, among many others. Although both types of firms generally perform international and multi-jurisdictional work, the former perform the highest level of legal work. There are many other major firms in the city with equivalent experience, especially in areas other than finance and corporate law.
Legalweek New York explores business and regulatory trends, technology and talent drivers affecting law firms. In recent years, a surprising consensus among Allen %26 Overy, Freshfields Bruckhaus Deringer, Linklaters and Clifford Chance is the desire to stop being qualified as a Magic Circle firm, an informal term from the 1990s that describes the most prestigious law firms based in London. So-called Magic Circle firms say the label runs counter to their ambitions to be seen as global law firms, as they push hard to expand in Southeast Asia or deepen China. Equity benefit partner for Magic Circle firms, the preferred way to measure the profitability of law firms based on how much their core partners earn, which typically exceeds £1 million per year.
These firms are obviously at the top of the legal market, however, they are not the most notable in all sectors. The term magic circle is used informally to describe the UK's leading commercial law firms, all based in and around the City of London. Like their legal work, the business strategies of Magic Circle firms are often innovative and cutting-edge, for example, when it comes to international expansion, nearshoring or contracting abroad.