The decision making process you went through to select a law firm for your training contract may have been rigorous, it may have even been slightly haphazard or simply been based on which firm actually offered you a training contract. It is now time to make another important decision - to stay at your current firm or to move. It may be that the decision has been forced upon you, for example there may be no openings in the department of your choice, or you may simply have decided that it is time to move to a new firm for whatever reason. In any event, this is a crossroads in your career and the options which lie ahead are potentially both exciting and numerous.

For those qualifying this year is likely to be one of the most testing time for newly qualifieds. The economic downturn combined with the sheer number of trainee solicitors coming up for qualification means that competition is likely to remain tough with a number of "strong" trainee solicitors being unable to secure their first choice position. Our advice would be to keep your options open and consider all the alternatives in the event that you cannot secure your preferred position on qualification. There may be opportunities in a different geographical location, or in the short-term contract sector, which will enable you to build on your skill set and develop as a lawyer.

The sheer diversity of opportunities in the market can be overwhelming and it is often difficult to work out what really are the differences between those options. So let us briefly look at your options on qualification.

As the centre of legal activity in the UK, London is both an exciting and occasionally daunting City for a newly qualified lawyer. Whether you are already in a London practice or seeking to move to the City, there remains significant opportunity for lawyers in virtually all practice areas. At present, firms are retaining a higher percentage of their solicitors in London, but the incredible fluidity and growth in the provision of legal services mean that, with the possible exception of some highly competitive specialist sectors, there will usually be positions available for top quality newly qualified lawyers looking to move on qualification.

The legal market can easily be split into several identifiable categories. At one extreme sit the global law firms. They generate the most profits, boast the highest fee income and have a network of global offices that is so vast that few firms will ever be able to catch them up. At the other end of the spectrum are a number of niche law firms. Such firms commonly concentrate on one sector only such as technology, property or insurance and claim to offer their lawyers work dedicated wholly to that discipline. They tend to be very profitable and claim a better lifestyle and less anonymity than in the larger global firms. In the middle of this spectrum sits the vast majority of law firms. They are medium sized firms with approximately 20-60 partners. Some of these firms are more sector driven than others and there is a huge range amongst them in terms of both quality and approach to work.

Whilst some of the US firms have had a tough time over the last year with many freezing recruitment and/or letting some of their lawyers go, generally the prognosis remains good for US firms in London. Many have been in this country for 30 years and it is clear that they are here to stay. Some are looking to develop into full service practices to rival, both in terms of quality and quantity, the work and lawyers of the top 20 UK practices. Others are concentrating on their core practice areas, usually corporate finance and banking, where they may be world leaders looking to entice the top lawyers away from the largest UK practices by offering significant salary packages and the prospect of the highest quality of work within a very meritocratic and non-beaurocratic environment. While not all US firms offer New York salary rates, they will tend to pay more than the leading UK practices with salaries ranging £50-90K on qualification with the potential to earn substantial bonuses on top of these sums.

At first there was some resistance to the US firms and UK qualified lawyers were sceptical that in order to sustain such salaries the environment would be comparable to that of a sweatshop. However, most US law firms today have overcome this perception and as more and more UK lawyers join such firms some of the myths have been dispelled. While clearly not right for some lawyers, the diversity of the US practices in London, the quality of the work and the quality of the remuneration should provide ambitious UK lawyers with real food for thought.

Another relatively recent phenomenon is the growth of the regional firms. These firms historically originate from cities outside London and invariably have grown a network of offices across the UK in key legal centres such as Birmingham, Bristol, Leeds, Newcastle and Oxford. They have also set up and grown their London offices and in some cases compete with some of the largest firms in London for clients. These firms can offer their clients a national network of offices which may compliment the client's own business.

Whether you are looking to move within the regions, from the regions to London or from London to the regions these firms can compete with top London based practices for quality of work and may offer, in some cases, a significant quality of life benefit.

Many trainees join law firms with international offices for the promise of spending part of their training contract abroad. This is akin to people choosing degree courses on the basis that they contain a Jamaican field trip element or two weeks in Spain investigating current trends in Spanish agricultural methods - i.e. sunbathing! If you are serious about working abroad obviously choosing a firm with either a network of international offices or an association with firms abroad is paramount. Often international jobs are snapped up internally although there are opportunities in the Middle East and Far East with firms which have connections within these jurisdictions. Obviously any languages spoken are an advantage and in some cases are a pre-requisite for working abroad for certain roles. 

As a UK qualified lawyer, you will often find most demand for your skills in UK law based jurisdictions such as Australia, New Zealand and the Far East and Asia.

Whilst a considerable volume of the recruitment of lawyers from private practice into Commerce and Industry is conducted at the 2-5 year pqe level, there can be opportunities for trainee solicitors just qualifying to make an early move into industry. At TMP Worldwide we have a team of sector specialist consultants who can offer advice on opportunities across a broad range of industries from media, FMCG and energy to banking and financial organisations.

Is it the right time to move in-house?

Generally the move into industry occurs at the 2-5 year level when you have had the time to get some solid practice experience under your belt. There can be opportunities for newly qualifieds but they are few and far between and when considering this move it is vital to consider the content of the role, organisation and long term career prospects.

What type of company?

Much will depend on the sort of person you are and what makes you tick. In-house positions at the newly qualified level vary considerably. Moving in-house at this stage means it is essential you get it right. If you are the sort of person who knows you want to be part of a larger team and values quality training then you will enjoy one of the bigger blue chip companies. If, however, you are more of a Richard Branson type, and know that you want to fly in hot air balloons, you would be better suited in a smaller pioneering company.

Can I move back to private practice?

If you subsequently decide to move back to private practice and have had good training both during articles and in-house, then you should be able to achieve this although it will of course depend on the market generally.

Show me the money!

Salaries initially compare very favourably with private practice salaries and companies usually provide a benefits package on top which can include a car or car allowance, pension, some sort of bonus as well as other in-house perks such as car parking, canteen etc. Your options are all open at this level so take your time to consider them.

A legal role within an investment bank or financial services organization is becoming an increasingly popular option for many lawyers in private practice. This trend seems to be driven by the triple draw of generous banking bonuses, drastic lifestyle improvement and the chance to get "closer to the business". The opportunity to make commercial, business-critical decisions, rather than simply executing part of a transaction, greatly appeals to young lawyers.

Generally the move into the banking and finance sector occurs around the 2-5 year pqe level with most institutions requiring at least 2 years solid experience with a good City firm. Our experience indicates that there are very few opportunities for a newly qualified lawyer to move into an investment bank at the newly qualified level as the banks. The truly international nature of these institutions sometimes gives lawyers with language skills and willingness to work overseas the edge.

The shortage of talent in this buoyant market means remuneration levels are high. Banks are paying what it takes to secure the lawyers of their choice. Basic salaries compare very favourably with those in private practice, and some investment banks will offer candidates an uplift in basic salary. Banking bonuses are typically far higher than those achieved in the City firms, with 30 to 100% being achievable in the first year, and rising thereafter.

Beyond the initial attraction however, the career path in banking and finance is also a plus. Many lawyers can and do often move into a business role, beyond which the sky is the limit!

Short-term contracts are an attractive alternative to permanent roles offering extensive flexibility in your life and work at the same time. Working on an interim basis allows you to explore new work environments, test the water of a firm before committing to them on a permanent basis, or are ideal for those juggling young families and school holidays. It's also particularly suitable for those returning to the job market, perhaps after travelling, or maternity leave or a career break.

Who takes on contract lawyers?

The opportunities for contract lawyers are endless. Within private practice, the magic circle, US firms, medium-sized to niche practices, all recruit contract lawyers. There is also an extensive need for in-house contract lawyers, and experienced individuals within the public sector.

The main requirements are up-to-date legal skills, good academics, the ability to adapt to a new team environment and start at short notice. Contracts are not for the faint hearted, they can be demanding roles involving exciting projects and large scale transactions. Ideally more experienced lawyers, who can work on an unsupervised basis, are preferred on short-term contracts.

How will it affect my CV?

The rule of thumb is generally the same as that applied to permanent positions. If you have not been able to secure a permanent position then obtaining a short term contract will not only enhance your CV by showing that you are being proactive in looking for employment, but it will also give you the additional benefit of having gained some good experience while you continue your permanent search. A high proportion of contracts do become permanent and therefore often give you the chance to test the water before committing to a long term position.

What about salaries?

As for the money, you can usually expect to be paid market rate salaries pro rated for the duration of your contract. Although you probably will not receive the usual additional benefits, if you are paid on an hourly rate, you will receive holiday pay in advance, and be paid for every hour that you work a sizeable advantage to you, if you are working long hours or weekends the average contract lasts 3 to 6 months, but vary depending on the reason as to why they are recruiting.

Overall, taking a temporary can provide you with a flexible opportunity to meet your individual demands and circumstances. The market is usually highly responsive to quality candidates, and can move very quickly in terms of moving from initial interviewing to actually starting work.

You have decided that you're "on the market" and you are going to see what's out there. What should your CV look like and what's going happen at interview?

The CV

An accurate, concise document that professionally reflects your experience and responsibility to date. Academics need to be included and that means 'A' level grades and degree results. Yes, they are relevant and No, we don't accept that you cannot remember. Even our oldest consultant (and they are really old) can remember their 'O' level/GSCE grades and subjects, so remembering 'A' level grades shouldn't be so difficult. Where this sort of information is missing from a CV, the reader assumes the worst (the very worst) so come clean and let us give you some advice on handling objections and hurdles.

Additionally, there should be some information about the work you have done in training. Don't exaggerate it in an attempt to make yourself more marketable, but do give sufficient detail to give a good flavour of the breadth of experience and range of responsibility you have had. Don't claim to have been the right hand man to the partner's, £10 billion transaction, when all you did was run out for their sandwiches! Partners who read your CV will know how much they expect their own trainees to have done in one seat and will simply want to know you have had a similar basic grounding and understanding in your chosen area.

Getting ready for the interview is all important. It's tough out there so you want to stand out from the pack. Common sense should prevail - the key to success at interview is thorough preparation. "Knowledge is power" - that's detailed knowledge of the firm, and of your chosen sector.  It is also worth remembering that there are many different kinds of interviewers out there - some good, some not so good - but they will inevitably ask you some difficult questions - so prepare for the worst!

The Interview Itself

Everyone suffers from nerves before an interview, it's the adrenalin pumping through your veins that helps you perform to your best. Take care how your nerves manifest themselves - sweaty palms might not be the end of the world, but drying up completely at interview maybe.

Enthusiasm

Key at interview is enthusiasm, enthusiasm, enthusiasm! Obviously one doesn't want a performance like Spud in Trainspotting at his interview to be a travel agent, but genuine enthusiasm for the firm, the role, and the law is infectious. If you can demonstrate that you are going to be a helpful, bright, cheerful, enthusiastic, team playing, safe pair of hands, the partners will want you on board!

Be yourself, don't try to be what you think the firm wants, short term you might be successful but in the long term it's unlikely that this is going to be a match made in heaven.

After interview, take a while to think about what went well, what went badly and what you would want to improve on. Review what further information you might need in the next stage of interview.

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