Relationships with law firms: Much of a law firm`s work in the Banking and Capital Markets departments involves the use of LIBOR rates (syndicated loans, securitizations, floating rate debt, interest component in derivatives, etc.). As a result, they should work with most of their clients to modify existing contracts (old contracts) and move to new reference interest rates (SOFR, SONIA, etc.). The new LIBOR replacement rates pose great uncertainty for law firms and clients. Instead of assessing seat preferences, newcomers assign each seat a score of ten, indicating what they want to do: ”If you`ve reached a tenth place, you`ll probably get it at some point in your training contract. By the way, our respondents got their first choice in 85% of cases. Would customers and businesses be able to amend old contracts in good time before deadlines expire? Successful applicants – both for training contracts and for VAC spaces – attend one of the many assessment days that take place each year. The day includes a case study and two interviews. The case study is a hypothetical example of the work an apprentice might face. Candidates have time to read and review the material and are then asked to write about some of the issues they have discovered.
I studied law at the London School of Economics. I did a holiday program at K&L Gates and a series of information days and workshops at various companies. I got my training contract with Linklaters in the last year of study. I did my LPC at the University of Law, Moorgate, which is around the corner from the office. With a ”sophisticated training system” and a strong ”be yourself” mentality, there is no weak link in the links. Sorry, Anne Robinson. Famous for: robust training system; Are Magic Circle Credentials as effective as LIBOR, in the sense that there would be an economic transfer of value for old contracts? (Changes in the value of contracts as the reference interest rate on which contracts are based, which is included in the calculation of price and value, etc., are modified). Applications for the company start with a short online form and the Capp online assessment (passing through a series of modules without timing).
After submission, candidates will be invited to take the Watson Glaser Critical Thinking Test. I would highly recommend taking the Watson Glaser test when no Capp assessment preparation is required. It can be very difficult to get an apprenticeship contract at first, but once you`re qualified, there will likely be more job opportunities for newly qualified lawyers, even if the firm you were trained with isn`t able to keep you. For example, if one of the seller`s directors is acquired and needs new employment contracts, how will a buyer finance the purchase, what property will move, and does the seller have the right to sell the property? If you appreciate these broader questions, you`ll be better prepared to approach the interviews and ultimately better understand what a law firm actually does. Linklaters is not for the faint of heart. But there are few more prestigious places to start a legal career. The firm consistently performs well in training in the articling and junior lawyer survey, but can be a challenging environment. These standards are likely the reason why the company posted another year of strong financial results, with revenue of £1.67 billion and profit per partner (PEP), up nearly 10% to £1.77 million. After graduating, it can be very competitive to get a job in the legal industry. Large companies tend to offer more training contracts, but they often receive many candidates. Linklaters currently offers the highest number of training contracts per year of any company in the UK, and learn more about the best UK law firms.
Those who complete the program automatically receive a final interview for a training contract. This is done with a partner and a managing partner and takes an hour. We had the chance to interview Jacob*, Linklater`s second-year intern, about what it`s like to work at a Magic Circle law firm and the advice he gives on how to get a training contract with Linklaters. .