🚨 Reed Smith has just announced its Direct Training Contract route!
The deadline is 20th June.

👉 Read Becca's announcement post here
📝 Apply directly here

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Message: <blockquote data-quote="Romiras" data-source="post: 26860" data-attributes="member: 1993">You should focus on securing a training contract first (at any place that suits your desires). You can apply to all (or none, or just one), after all. Realistically, I think most people are going to struggle to secure a TC at either types of firms - therefore often the question is determined by what kind of offers you have.I think you're conflating two things: The Magic Circle's "decline" in the London legal market and "being considered part of the world's elite". Generally, if you went to the East like Asia (the world is a lot bigger than the US and the UK!), the Magic Circle firms are more known, more present and arguably control a much larger market share relative to their US counterparts. They are certainly considered 'elite' there. They will also be considered elite in the UK (they're still market leaders). But turn to consider the US legal market, and the Magic Circle, at best, could only be considered a mid market player (with many having middle of the pack Vault rankings, if you subscribe to the publication's value). Therefore, is being part of the world's elite determined on whether you're a market leader in every jurisdiction? Surely not. The likes of Cravath and the V5 would also fail to meet that benchmark. The US market is the largest legal market in the world (naturally, as it is also the largest economy). That will naturally have implications (as some of the largest corporate and financial institutions are giving key mandates to historically US firms - where they're also based in). This question of MC firms declining and US firms rising is therefore innately skewed towards the US firms if we're basing it off deal count and deal value. It seems less like a question and more like a pre-determined (and known) fact masquerading as a question.Truthfully, these types of questions are often inconsequential to most people (practically speaking) and are largely argued less on facts and more on personal pride and vested interests. Just focus on securing any training contract at any firm: (i) that does the type of work that you want, (ii) that has the clients you want to work for, etc - and don't fall into the trap of elitist measuring.</blockquote>

Verification: Our company is called, "The Corporate ___ Academy". What is the missing word here?

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