We (Ten-Percent Legal Recruitment ) were called today by a student with a very interesting proposition. In view of the Alternative Business Structures, if your plan is to run your own law firm once qualified, why bother getting a training contract? I started to reel off the usual stuff about training contracts and becoming a solicitor before thinking this through. She (the student) has a very valid point. Why bother getting a training contract and going through all the hassle of qualifying as a solicitor if you can set up your own law firm, recruit a solicitor to be a partner (and after all in the current market law firms seem to think that solicitors don't need to be paid a salary anyway!), get them to give you a training contract at some point and qualify whenever you feel like it? Furthermore, you can use the Law Society/SRA exemption for any work that you have done already that is at training contract level? How much money could be saved? Professional Indemnity insurance is lik...
Award winning blog with 100s of articles on the legal profession, legal recruitment and legal job markets by Jonathan Fagan, MD of Ten-Percent Legal Recruitment, recruitment consultants based in the UK providing a full range of services for solicitors.