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TCLA Vacation Scheme Applications Discussion Thread 2025-26

Donna Paulsen

Legendary Member
  • Sep 23, 2025
    348
    1,116
    Reed Smith PFO after video interview heartbreaking but I knew it. Don’t know if this is a sign to throw in the towel now
    I saw a TikTok that said 'if you knew you were 100 rejections away from your dream, you'd be much more grateful to be told no'. This really resonated with me today after being PFO'd!!

    You are closer than you think, don't give up, every rejection is a step in the right direction. You can do this!!
    Sad Best Friends GIF by Lisa Vertudaches
     

    xMontmorency

    Distinguished Member
    Dec 24, 2023
    61
    172
    Has anyone been seeing the amount of junior lawyers leaving to either go in-house or leaving big law altogether these past few days? Or maybe my LinkedIn algorithm is just biased lol. But it makes me wonder why... especially when I see people leaving the firms I'm currently fighting tooth and nail to get into lol.

    Granted, it could just be their preference, a growing generational phenomenon, or wanting more of a work life balance etc., but it does make me worry that there might be something deeper...

    Edit: and yes I know we tend to see more of these at this time of year since bonuses have been paid etc. but still makes me wonder haha
    It's known as associate attrition. It's entirely normal and, from the law firm's point of view, vitally necessary as part of the business model. Law firms, like consulting firms and investment banks, run a pyramid or 'up or out' model. You only need about 5-10 individuals in a class of 80-100 trainees to make partner. The rest have to go. Either to another firm, because they want to leave big law, or because they don't make the cut.

    Look at Slaughter and May. At a low around 15 years ago they only had 85 partners in London. Now they're at around 120. They allegedly recruit 90 trainees a year, but last year promoted only 6 new partners (and 5 the year before). You do the maths.

    They hire so many trainees/associates because they want to ensure they maintain a partner:associate leverage at around 3 or 4 (i.e. 3-4 associates per partner) to maximise billing potential, and to do all the grunge work. It also helps MC firms because a huge number of former trainees and associates land roles in-house at corporates, banks and PE houses, making it more likely that they will award work to their former firm.

    From the associate who's quitting's perspective, it's not that bad. Some in-house roles are highly sought after, high paying, career-enhancing moves (just look at how much tech GCs earn in the US). You may take a small pay cut, but there are other benefits. Cushy job. No pressure to bill. Hours are way better.

    Also, it's not unheard of to see people returning from in-house roles to become law firm partners: cf Angharad Lewis, David Holdsworth, Kai Zeng, Jeremy Dennison.
     

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