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September 30, 2008

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Training Contracts - Six Types of Firms Explained!

Amongst the myriad of law firms offering training contracts, choosing the right one for you can be very daunting- especially as you are expected to decide which firms to apply to well before finishing your post-graduate training (LPC/CPE). This quick guide will help you distinguish between law firms according to their typical sectors, work environment, main clients and salaries. Keep in mind that these are generalisations and you will need to research specific companies, attend law fairs, talk to your careers adviser and most importantly use your experience of work placement schemes to get the full picture and make an informed decision.

Specialist

These are small firms dealing with specialized matters and therefore tend to offer more interesting work than other firms, but in a very limited field. This is a good option if you are passionate about a particular line of work as it will boost your career development, but only in that area. Avoid these firms if you are not yet sure what to do and opt for a broader type of training experience.

High Street

High street firms (also called legal aid) deal with private client matters or small private companies. Working hours are often lower than at other firms, and this is reflected in the lower salaries. However, this usually means that the work environment is friendlier, more relaxed and reputed to encourage personal development.

Medium city

You can expect a broad range of cases from these firms, with some important PLCs (Public Limited Companies) as well as larger regional companies. As a result of their bigger range and size, you will be offered quality support services and facilities.

Large city

Firms located in major cities will offer commercial work of high standard for large PLCs. They often have top quality support facilities, high number of staff and very good salaries. In addition, international work is likely to be available in a majority of firms, a result of global partnerships. Training contracts from these firms are unsurprisingly very competitive.

Regional and National

Generally, both these types of firms offer broad, full-service commercial practices and have clients from both public and private companies. National firms often result from the merge of several reputed regional firms and benefit from the expertise of several offices. You may also chose national firms if you are interested in dealing with local and public authorities. If you prefer to experience working for private clients, smaller regional firms are your best bet.

International

These law firms deal with all aspects of financial law and jurisdictional business for multinational clients and therefore offer good opportunities to travel. However, they require multi-skilled individuals, with a strong legal knowledge, commercial awareness as well as linguistic abilities.



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