Your Passport for Success
You probably all remember your first day. You probably spent the evening before making sure that your clothes looked good, your shoes were polished and that your alarm clock worked! You probably turned up on your first day on time, you may even have turned up early. You were eager, keen, driven, motivated and perhaps a little apprehensive. Now as you approach the end of your training the options open to a newly qualified lawyer are numerous, perhaps even daunting. Here to help guide you through the maze of opportunity, grab your Passport, let's have a whistle stop tour of the Past, the Present and the Future.
The Past
After two years of learning how to look busy when you're not, staying awake when you are tired and smiling sweetly while the rest of you wants to scream in frustration, let us consider some of the key events that have taken place since your entered the law:-
- Newly qualified salaries went up, up ……. and up……. and up. Top salaries in the leading UK firms are around £50,000 and at some of the US firms it is possible to earn in excess of £100,000 in your first year of qualification!
- Europe continues to be the battleground for UK law firms and in particularly Germany, France and Spain with Italy on the horizon.
- If it moves ………. then merge with it. This seems to be the motto over the last couple of years with a number of firms merging, trying to merge or just talking about merging. Some formalised their existing relationships, others got together, as many decided that bigger was better.
- Over recent years US firms have strengthened their presence in the UK. However, over the last year, many have cut back on recruitment as a result of the economic downturn. Some of the US firms strong in the technology sector have been particularly badly hit. However, over recent months there have been signs of improvement. A combination of offering a different culture, significant remuneration, an exceptional client base and the chance to make your mark in a smaller, more dynamic office, has lured many top lawyers away from leading UK firms.
