What are Magic Circle law firms?

Who are the five Magic Circle law firms?

The Magic Circle is the name given to the five most prestigious law firms in the UK.

Based in London, you’ll find them working with the world’s biggest banks, financial institutions, global companies and even governments on some of the most complex legal matters. They are:

• A&O Shearman. Known for banking, finance and capital markets.

• Clifford Chance. Focuses on major corporate deals, asset finance and capital markets.

• Freshfields. Covers corporate law, mergers and acquisitions (M&A), antitrust and dispute resolution.

• Linklaters. Known for working across banking, capital markets, business regulation (competition and antitrust) and energy. 

• Slaughter and May. Known for corporate advisory, banking, and finance. And works with more FTSE 100 companies than any other law firm.

The term itself was coined by legal journalists in the 1990s. It’s not a term the firms use, but it has stuck, and you’ll find it used all over the industry.

What types of work experience do they offer?

If you’re looking for a career at a Magic Circle law firm, getting some work experience under your belt will up your chances. The good news is that there are many ways to do that.

All five law firms offer some of the UK’s most popular schemes. You’ll find something whether you’re at sixth form, college, university or a fresh graduate.

That’s not all. There are other ways to get work experience with a Magic Circle law firm. They also offer virtual internship programmes and training programmes for students in Years 12 and 13. All super valid ways to get your foot in the door.

It’s worth checking out their websites to find out more about the various schemes they offer (some include some international work experience, too!)

What’s it like to work for one?

Working for a Magic Circle law firm is fast-paced and intense, but really rewarding. 

From day one, you’ll get stuck in and work on real-life projects that mean something. Think everything from research, reviewing documents, sitting in on client calls and even attending court.

You might think that people who work for Magic Circle law firms are intimidating, but our student community says they’re much more approachable than you think:

I had not experienced a corporate environment before the scheme, but I immediately found the atmosphere at A&O Shearman to be welcoming and genuinely people-focused. The flat management structure was clear in practice as fee earners at all levels were enthusiastic about sharing their experiences and incredibly generous with their time. Vacation Scheme Student, A&O Shearman

If you want to get more of a feel for the culture at a Magic Circle firm, it’s always worth checking them out on Instagram or LinkedIn.

How hard is it to get into a Magic Circle law firm?

Schemes with Magic Circle law firms are competitive (so are many law work experience schemes), but it’s not impossible.

These firms typically expect you to have a 2:1 or above, and you don’t necessarily need to have studied law either. Beyond what you did at university, they’re looking for candidates who can communicate clearly, work in teams, handle pressure, and think on their feet. 

The application process usually starts with an online application, followed by online tests. Law firms normally use the Watson-Glaser Test (especially for their training contracts), which lasts around 30 minutes and looks at your critical thinking, logical reasoning and how you analyse arguments.

If you impress, you’ll then take part in an assessment centre which will include group tasks and a final interview.

You’ll find an outline of the full application process on their careers sites.

Interested in applying for Clifford Chance? Here’s some application advice from a Spark Intern:

Be yourself. The application process has many stages, but I found that the key element that ran through it was to lean into your own experiences (whether related to law or not). Clifford Chance has lawyers from all backgrounds and walks of life, and I found that what draws them all together is that they all have their own stories. Commercial knowledge is important, but character and interpersonal relationships are essential in the people-oriented sector of commercial law and in Clifford Chance itself. Spark Intern, Clifford Chance

How much do Magic Circle lawyers earn?

Salaries at Magic Circle law firms are pretty impressive.

Joining a training contract? You’ll start on £56,000 in your first year, jumping to £61,000 in your second year. Once you become a fully qualified solicitor, you’ll start on £150,000.

If you’re joining as an apprentice, you could earn £28,000+. This usually increases every year of your training. Plus, you’ll get a £3,000 one-time sign-on bonus when you join. 

Vacation schemes at Magic Circle law firms are between £500 and £550 per week.

If you’re on a full-time scheme (like an apprenticeship, grad scheme or training contract), you’ll also get a load of really cool employee benefits. These can include:

• On-site healthcare: GPs, dentists, mental health support and physiotherapy (London offices)

• On-site gyms: free personal training, sauna access and sports halls (London offices)

• Free meals and private taxis home if working past 8pm

• 20+ days of holiday per year

• Hybrid working

• Pensions

• Concierge services.

Every firm will tell you exactly what they offer their employees on their websites.

Can I work elsewhere?

Yes! You have more options than you think. 

Silver Circle law firms come just under the Magic Circle and include Macfarlanes, BCLP, Ashurst, Herbert Smith Freehills Kramer and Travers Smith. They all offer work experience opportunities for students, from solicitor apprenticeships to training contracts.

There are also many other law firms like Bristows, DLA Piper, Latham & Watkins and Simmons & Simmons, who offer some of the UK’s most popular work experience schemes. 

You can also find work experience with the legal departments of businesses like the BBC, Tesco plc and many more.

If you're looking for something smaller, local and regional law firms are worth exploring. You’ll get tailored training, more responsibility early on and a closer working relationship with clients and your team.