The number of applications received per training contract vacancy jumped by a whopping 87 per cent between 2009-10 and 2010-11, according to the latest survey published by the Association of Graduate Recruiters (AGR).
The AGR’s Summer 2011 survey, published today (28 June), revealed a staggering 65.5 applications per training contract vacancy compared to 35 last year.
This figure, however, remains lower than those for investment banks or fund managers, which revealed a jump from 84 applications per vacancy to 232.5.
Meanwhile, the AGR has also upgraded its forecast for vacancies at law firms claiming that they rose by 14.6 per cent between 2009-10 and 2010-11. This follows a prediction by the organisation that training contract positions would drop by 11.8 per cent in 2009-10.
Job applications across all sectors have jumped to an average of 83 per vacancy, while vacancies are expected to grow by three per cent.
Despite the highest median starting salary boosting from £36,600 last year to £37,000, the research anticipates that no further change in salary will occur this year.
Investment banks and fund managers sit in second place for another year running revealing a median salary of £36,500 compared to £35,000 last year. The median starting salary across all sectors has increased to £25,500, up from the 2008 and 2009 figure of £25,000.
Readers' comments (5)
Anonymous | 28-Jun-2011 1:38 pm
Given that this is no surprise to anyone it seems your decision to allow the College of Law to whinge about the alleged lack of LPC students something of a mistake I think.
Every student or graduate is very aware of how difficult it is to secure a training contract. Why didn't you?
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Beth | 28-Jun-2011 5:39 pm
Only 65? I applied for pupillage at a set that had *371* applications for 2 pupillages. Most sets get at least 100 applications per pupillage available. And that's with applicants limited to 12 applications through the online system.
What these figures don't tell you is how many applications each applicant makes on average. If each applicant makes 30 TC applications, 50% of them will get jobs on average. It doesn't mean there's one TC per 65 applicants.
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TWP | 1-Jul-2011 8:59 am
@Beth
No, but it does mean that 65 people apply for each position. So your likelihood of securing the TC is 1/65 or less.
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Beth | 1-Jul-2011 11:41 am
@TWP, your likelihood of securing any particular TC at any particular firm is 1/65. Your likelihood of securing a training contract is more like n/65 where n is the number of applications you make.
The 1/65 is about applications, not unique applicants.
In other words, if each applicant made 65 applications, this would imply there were 65 applicants for 65 positions and everyone would get a TC. If, as I suspect is likely, applicants make 20-30 applications each (on average), then the overall odds are more like 1/2 or 1/3. Still much better than pupillages where there are c. 3,000 unique applicants for c 350 pupillages!
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Savas Argirou | 28-Jan-2012 0:39 am
I read with interest the comments made to this article. As the person responsible for interviewing trainees at my firm, the biggest problem I find with applications is that too many potential trainees shoot themselves in the foot by sending covering letters that are obviously doing the rounds at several hundreds if not thousands of firms - and the prime example is the individuals on this article working out percentages.
Spend a little time researching the firm you are applying to, spend sometime personalising your application form, show some interest in the firm - dont just send CV's and covering letters as if they have been copied many times. Reduce the amount you send out and instead concentrate on individualising your application(quality not quantity shoud be your motto) - it works, believe me I know.
And for some of you that are still at the early stages of your LPC or Law Degree, get out there and do some legal work experience in your summer vacations, as employers this means a great deal to us - indeed on several occassions we have offered training contracts to individuals that have impressed on summer vacation experience.
Savas Argirou
Managing Director
Savas & Savage Solicitors
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