business and careers for students

Law

Being a lawyer could mean any one of very wide variety of different careers. Here we focus on working as a solicitor at a large commercial firm, including City law firms.

These firms concentrate on business and finance-related work, acting for large corporates, banks, hedge funds, pensions funds, insurance companies, governments, start-ups and individuals in the business world.

Corporate lawyers at these firms help clients with the legal aspects of how their businesses are set up, operate, and develop. The finance lawyers are another important team, who help clients raise money from banks or on the financial markets. Not everything in business goes smoothly and when disputes arise, lawyers help resolve them or guide clients through a trial or other dispute resolution process. You’ll also find some lawyers at large commercial law firms doing other business and finance-related work. Most big commercial firms also get involved in charity and community activities; when doing so involves using legal knowledge, it’s known as pro bono.

As a graduate trainee, you’ll start with a two-year training contract where you’ll gain experience across the firm’s practices, usually through four six-month “seats” in different departments. Then, you’ll join a team permanently at your firm or elsewhere as a qualified lawyer. Many large commercial firms have networks of international offices because of the global nature of today’s business and finance worlds, so you may well get the opportunity to spend some time abroad as a junior lawyer. A secondment to a client is also a popular option. As you progress, you might end up becoming a partner, or moving in-house.

You don’t need an undergraduate law degree to become a lawyer, but having one means you only have to get one qualification at law school after graduating (the LPC, usually a one-year course) rather than the two qualifications non-law graduates have to complete before they can join a firm (the GDL, also usually a one-year course, then the LPC). Unless you want to take some time out, you need to get a law school place and a training contract while you’re still at university. To get an offer from a large commercial firm consider doing an internship at one of these firms, known as a vacation scheme. Joining your university law society is another good way to improve your chances while you’re still studying.

In our Law section you’ll find plenty more information and advice about a career at a large commercial law firm.



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