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<blockquote data-quote="Jessica Booker" data-source="post: 25947" data-attributes="member: 2672"><p>I don't think Corona virus alone will do this. I think a combination of the SQE coming in, Brexit, potential global recession anyway, + Covid19<strong><em> could</em></strong> lead to less graduate vacancies. This won't just impact law firms, but all industries though and if anything law tend to be the more stable sector for graduate vacancies compared to other sectors like Finance or the Public Sector.</p><p></p><p>In past instances, firms tend to defer future trainees rather than cancel them altogether though. They have only been cancelled when firms go bust. Deferrals usually come with a potential payment. I know trainees who were deferred in 2009/10 and they got enough money to enjoy a 6 month extended holiday, so it isn't always the worst thing to happen. It usually happens in stages - firstly asking for volunteers to defer (which usually there are enough takers).</p><p></p><p>The interesting thing that might off-set this though is the SQE. Its predicted that many more people will fail the SQE stage 1 exams than current pass rates for the LPC. This may mean that firms who are planning to move across to the SQE model of training contract early on may look to over recruit, in a similar way to which the Banks and Accountancy firms do, given many people don't pass their exams in the first 3-6 months.</p><p></p><p>There's a lot of ifs and buts in there though to say anything definite. I am pretty sure firms will continue to recruit though and I would expect trainee intake numbers to drop by a small amount (say 8-12%) rather than massive cuts.</p></blockquote><p></p>
[QUOTE="Jessica Booker, post: 25947, member: 2672"] I don't think Corona virus alone will do this. I think a combination of the SQE coming in, Brexit, potential global recession anyway, + Covid19[B][I] could[/I][/B] lead to less graduate vacancies. This won't just impact law firms, but all industries though and if anything law tend to be the more stable sector for graduate vacancies compared to other sectors like Finance or the Public Sector. In past instances, firms tend to defer future trainees rather than cancel them altogether though. They have only been cancelled when firms go bust. Deferrals usually come with a potential payment. I know trainees who were deferred in 2009/10 and they got enough money to enjoy a 6 month extended holiday, so it isn't always the worst thing to happen. It usually happens in stages - firstly asking for volunteers to defer (which usually there are enough takers). The interesting thing that might off-set this though is the SQE. Its predicted that many more people will fail the SQE stage 1 exams than current pass rates for the LPC. This may mean that firms who are planning to move across to the SQE model of training contract early on may look to over recruit, in a similar way to which the Banks and Accountancy firms do, given many people don't pass their exams in the first 3-6 months. There's a lot of ifs and buts in there though to say anything definite. I am pretty sure firms will continue to recruit though and I would expect trainee intake numbers to drop by a small amount (say 8-12%) rather than massive cuts. [/QUOTE]
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