Early summer marks the start of another newly qualified or 'NQ' season. This is a busy time for not only those seeking positions and for recruiters, but also for firms as they put the finishing touches to their budgets and decide on their NQ intake, both internal and external.
While we have seen an improvement this year in terms of NQ jobs becoming available, particularly outside London, the 'good old days' of trainees being kept on as a matter of course have yet to return. However, it is not all bad news, as difficult times can often give rise to new and exciting opportunities that can offer first-rate solutions to both parties with a little lateral thinking and flexibility.
From our own research and statistics, we have seen that, at best, firms nationwide are generally retaining up to 70% of their trainees, although there are some firms again retaining none of their trainees. This is better than last year but there is still a lot of competition for jobs and, of course, firms have used this to their advantage to get the best NQ possible for each job.
The best advice we can give NQs is not necessarily to compromise in your overall goal but to adopt a realistic approach in terms of geographical requirements as well as work type. The quality of the work and the reputation of the firm far outweigh the benefits of, for example, having your heart set on London. This may seem like an obvious statement but it deserves reiterating. Obviously, personal circumstances have to be taken into account such as a family move, schooling and so on, but it is certainly food for thought.
We are continuing to see the greater number of NQ positions coming up in the regions rather than in London, and of course when jobs arise in London, there is an enormous amount of competition – but this is even the case in more remote spots such as Exeter. Practice areas offering most opportunities this year are again property, both residential and even more so commercial property, as well as, to a certain extent, employment and corporate law. Quieter areas appear to be intellectual property and banking, as well as commercial litigation.
While the job market is far from fluid, with a realistic and pragmatic approach as well as realistic expectations, there are still good opportunities for NQs and now is certainly the time for firms to take advantage of the wealth of talent available.
Sally Trigues is senior consultant at Legal Opportunities
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