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Graduate Gloom; Top Tier Law Firm Graduate Intake Statistics Show Less Jobs
Posted by The Spy | Posted in Firm Gossip, Law and disorder | Posted on 8.38am
For beleaguered graduates still on the job-hunt despite graduating many months ago, it appears that the entry-level legal jobs market at the top-tier is still suffering. By comparing the number of graduates recruited in the six months to July 2010, with the same period in 2009, the following statistics from the AFR show each of the seven largest Australian firms has significantly reduced their number of intakes this year.
- Firm: Mallesons Stephen Jaques
Number of graduates Jan-July 2010: 91
Number of graduates Jan-June 2009: 128
- Firm: Freehills
Number of graduates Jan-July 2010: 86
Number of graduates Jan-June 2009: 96
- Firm: Minter Ellison
Number of graduates Jan-July 2010: 78
Number of graduates Jan-June 2009: 104
- Firm: Allens Arthur Robinson
Number of graduates Jan-July 2010: 75
Number of graduates Jan-June 2009: 76
- Firm: Blake Dawson
Number of graduates Jan-July 2010: 58
Number of graduates Jan-June 2009: 77
- Firm: Corrs Chambers Wesgarth
Number of graduates Jan-July 2010: 39
Number of graduates Jan-June 2009: 53
- Firm: Clayton Utz
Number of graduates Jan-July 2010: 35
Number of graduates Jan-June 2009: 76
While these statistics are very bad news for those who have already graduated, the statistics below may be of considerable relevance to those still undertaking their studies and wondering where they will find their graduate job. Last year we compiled an analysis of the number of seasonal clerkships offered by each of the top-tier firms mentioned above and compared that number with the number of graduate positions offered by each of the same firms. In so doing, we were able to formulate a a percentage for each firm representing the likelihood that a seasonal clerk would ultimately receive a graduate offer. In 2009, the probability that seasonal clerks would be offered a graduate position were (approximately) as follows:
- Corrs Chambers Westgarth 80% (53/66)
- Clayton Utz 65% (96/147)
- Freehills 63% (120/190)
- Mallesons 54% (135/248)
- Allens Arthur Robinson 45% (94/206)
- Blake Dawson 45% (85/185)
At a time when there is still a tight jobs market, university students with several seasonal clerkship offers should probably pay attention to these stats when considering where they should spend the summer.
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Here’s a hint. Get some real life experience. Try a small/country law firm. Try getting a proper job where you deal with real humans. Check out the alternatives to joining the big firms.
Also, ENJOY YOUR HOLIDAYS WHILE THEY LAST!
Great article. Thanks for the heads up FS.
I think a better breakdown of likelihood of securing a grad position would be on a geographic basis. For example, last year in Sydney all but 2 Freehills clerks were given grad offers and at Blakes all the clerks received offers, whereas a very large portion of the Clutz clerks were not given grad offers.
The “summer clerkships to offers” statistics are misleading because of the different way clerkships operate in each City.
In Sydney of course summer clerks generally only go to one firm but in Melbourne most prospective graduates do two if not three summer / winter clerkships over the last year or two of their degree. That means that most top students will go through two or three of the major law firms. That student will of course only accept one offer although he / she will have done two maybe three clerkships. Consequently, those statistics are less than helpful. If however you pulled out the Sydney only statistics where students tend to only one clerkship then that might mean something.
Very useful information. Thank you.
I understand that Minter Ellison now only offer grads a fixed term contract for the duration of rotations, not a permanent job, and only offer grads a permanent job at the end of rotations if they are able to ‘secure’ a position in a practice group.
I think these figures are distorted. How exactly did you figure out the formula you refer to above? Many firms offer grads positions and grads delay their start dates for 2-3 years to do a JA etc. So simply relying on a formula that looks at the number of summer clerks in one year and the number of grads starting the next year would not be sufficient. I think you will find you have dramatically underestimated the amount of summer clerks receiving grad offers across most of the above firms….. and there is no reason to scare the poor uni students!
Certainly not reflective of the situation at AAR in Sydney where they offer nearly 100% of clerks grad jobs, even if SA’s and Lawyers that have worked with a clerk think they are crap or they have made serious serious blunders for fear of getting bad rep with next years intake of clerks. Its ridiculous.
[…] on from our story a couple of weeks ago profiling the dramatic reduction in top-tier graduate intakes, we today publish further evidence that employment prospects for new graduates are languishing in […]