Graduate vacancies in the legal profession have slumped by 3 per cent in the past 12 months, while starting salaries have been frozen at an average of 28,000, according to an annual survey of graduate recruitment trends.
The new statistics from the Association of Graduate Recruiters (AGR) reveal that the legal profession continues to offer one of the highest starting salaries and is still the third biggest graduate recruiter, with 10 per cent market share.
Accountancy firms emerged as the biggest graduate recruiters, with 23 per cent market share.
While vacancies increased by more than 43 per cent in the logistics sector, graduate jobs in the legal market have slipped by 3 per cent.
Law firms are not alone in freezing starting salaries either. The AGR survey reveals that the two other highest paying sectors, investment banking and consulting, have also been brought to a standstill.
AGR chief executive Carl Gilleard said: “There’s definitely nowhere near a crisis comparable to the situation in the early 1990s and it’s important that those graduating this summer don’t lose their nerve.”