Magic Circle Law Firms: A Complete Guide

Magic Circle law firms are the elite of the UK legal world. If you’re a student dreaming of a career as a lawyer, you’ve probably heard this term.

But what exactly is the Magic Circle? This guide will explain everything – from where the name came from, to their history, differences, salaries, and how you can aim to join their ranks one day.

Read on for an introduction to the most prestigious law firms in London and what it takes to get there.

What are the Five Magic Circle Law Firms?

The following five law firms are together referred to as the ‘Magic Circle’:

• Allen & Overy
• Clifford Chance
• Freshfields Bruckhaus Deringer
• Linklaters
• Slaughter and May

We’ll explore all of these firms and how they came to be part of the Magic Circle in more detail below.

Origins of the term

Despite its mystical name, the “Magic Circle” isn’t about wizards or card tricks – it’s a group of top-tier law firms. The term was coined by legal journalists in the late 1990s to group together a handful of law firms that stood out above the rest. Before that, there was an informal group known as the “Club of Nine” (a collection of leading London firms).

Around the year 2000, this club broke apart, and commentators started referring to the most outstanding firms as the “Magic Circle.” In essence, it was a catchy nickname for the five firms that had consistently outperformed their peers in big corporate deals and international work.

It’s not an official title, but it caught on quickly because it perfectly captured the idea of an exclusive, almost legendary circle of top law firms.

Breaking Into Law

Watch our webinar on Breaking into Law with solicitor Sophy Lelliott for insights and top tips.

Breaking Into Law

History of the Magic Circle

Each Magic Circle firm has its own proud history, some going back over a century (in fact, Freshfields’ roots trace back to the 18th century!). However, as a group, the Magic Circle concept emerged only in the late 20th century. By the early 2000s, the five firmshad grown into global legal powerhouses. They expanded aggressively beyond London, opening offices worldwide to serve international clients.

During the 1990s and 2000s, these firms handled many of Europe’s and the world’s biggest mergers, acquisitions, and finance deals. They earned reputations for top-notch expertise in corporate law, banking, and finance, which solidified their prestige. The Magic Circle firms often topped league tables for revenue and profits among UK law firms.

Over the years, the group’s composition hasn’t changed – it’s still these same five names. (There have been debates occasionally – for example, some wondered if Slaughter and May should be classified differently because it’s smaller and more UK-focused than the others. But it remains firmly in the Magic Circle in most people’s eyes.)

In recent years, the Magic Circle has continued to evolve to stay competitive globally. For instance, Allen & Overy announced a major merger with a US firm in 2023 to extend its reach even further. What hasn’t changed is that all five are still considered the pinnacle of the legal profession in the UK, combining long-standing tradition with modern, international ambition.

Differences between Magic Circle law firms

The Magic Circle firms have a lot in common – prestige, high-quality work, and demanding workloads – but they aren’t identical. Each firm has its own character, areas of strength, and style. Here’s a quick rundown of what makes each of the five unique:

Allen & Overy (A&O)

A&O is an international powerhouse, especially strong in banking and finance. It’s known for a modern, friendly culture and has dozens of offices worldwide.

Clifford Chance (CC)

CC is the largest Magic Circle firm with a truly global reach. It excels in high-value transactions (such as major corporate and finance deals) and is often praised for its supportive, team-oriented culture.

Freshfields Bruckhaus Deringer

Freshfields is highly prestigious (its origins date back to the 18th century). It handles many high-profile matters across diverse industries and has a broad international footprint in Europe, Asia, and beyond.

Linklaters

Linklaters is a heavyweight in corporate and finance law with offices in over 20 countries. It’s known for technical excellence and innovation, and it offers consistently strong training for its junior lawyers.

Slaughter and May

Slaughter and May is the most UK-focused of the five, with just a few offices abroad. It advises more FTSE 100 companies than any other firm and relies on a network of partner firms (“best friends”) for global work. Slaughters has an elite, traditional reputation and prides itself on creative problem-solving for clients.rotection.

Best Magic Circle law firm

There’s really no single “best” Magic Circle firm – all five are at the pinnacle of the profession, and which one ranks highest can depend on what you value.

Size & Revenue

If you look at size and revenue, firms like Allen & Overy and Clifford Chance have recently led the pack (each generating around £2 billion in yearly revenue, making them among the largest law firms in the world).

Profitability

In terms of profitability, all Magic Circle firms are highly profitable. However, Freshfields and sometimes Slaughter and May have been noted for especially high profits per partner, thanks to their elite client work.

Reputation

When it comes to reputation, all are extremely well-regarded. Some might argue Slaughter and May has a special prestige in the UK due to its selective approach and blue-chip client list, while others might point to Clifford Chance or Linklaters for their global influence, or Freshfields for its long heritage.

The truth is, each Magic Circle firm excels in different ways (and often they leapfrog each other in various rankings year to year). For an aspiring lawyer, the “best” often comes down to personal fit – which firm’s culture, practice areas, and opportunities align most with your interests. Rest assured, any Magic Circle firm is a world-class place to be.

Magic Circle law firms salary

One big attraction of Magic Circle firms is the high pay – though it comes in return for very hard work.

To give you an idea, as of 2024 a newly qualified solicitor in a Magic Circle firm earns around £120,000–£125,000 a year as a base salary. Even before qualifying, during the two-year training contract, trainees earn roughly £50,000 in the first year, rising to about £55,000 in the second year (remarkably high for entry-level jobs).

At more senior levels the numbers only grow. An experienced associate (a lawyer who’s been qualified for a few years) can be earning well into six figures. Partners – the senior lawyers who own a share of the firm – often take home over £1 million per year each.

These figures might sound unbelievable, but they reflect the fact that Magic Circle firms handle multi-billion-pound deals and complex cases. Clients are willing to pay high fees for the best legal advice, and these firms in turn can reward their staff generously. Of course, the high salary comes with long hours, big responsibilities and intense pressure – but for many lawyers, the challenge is part of the appeal.

Magic Circle law firms in London

All five Magic Circle firms are headquartered in London, putting them right in the heart of the UK’s legal and financial world. Most have their main offices in the City of London (the square-mile business district around the Bank of England), while Clifford Chance is based in Canary Wharf (another major financial hub in the city).

Being in London means these firms are next door to the big banks, corporations, and institutions they advise, which is part of what makes London such a global legal hub.

For someone aiming to join a Magic Circle firm, it’s safe to assume you’ll be working in London – at least at the start of your career. The London offices of these firms are huge (hundreds of lawyers in one building) and extremely busy.

The work is high-pressure, but you’re also surrounded by the buzz of one of the world’s great cities. London offers a vibrant lifestyle and networking opportunities, although it comes with a high cost of living. Many Magic Circle lawyers say there’s nowhere they’d rather start their careers than in London, given the exposure and experience it offers.

While London is home base, each Magic Circle firm has a network of international offices as well. After a few years, you might have the opportunity to complete a stint abroad in New York, Hong Kong, Paris, or elsewhere. But no matter where you roam, the London headquarters remains the centre of the action and the symbol of the firm’s identity.

Law Summer Schools

Our law summer schools offer an incredible opportunity to experience a career as a lawyer.

Learn from top barristers, visit courts and law firms, and take part in a mock trial.

Discover More

How to get into Magic Circle law firms

If you’re aiming for a Magic Circle firm, it’s smart to start planning early. Here are some key steps to put yourself in a strong position:

Excel in your studies

Grades matter. Aim for top marks in your school exams (e.g. A-levels) and, later, at university. These firms typically expect at least a 2:1 (upper second-class) honours degree. Whether you choose to study Law or another subject, make sure you do well – academic excellence is the first filter in most applications.

Attend university and get a solid degree

You will need to go to university to become a solicitor (unless you pursue a rare apprenticeship route). Magic Circle lawyers tend to come from leading universities (more on that later), but what’s crucial is that you perform strongly wherever you go.

After a non-law degree, you can take a one-year law conversion course, so don’t worry if you don’t study Law at undergraduate level. The important thing is to graduate with a good degree result.

Build skills and explore law

Being a top lawyer requires more than good grades. Try to develop skills like communication, teamwork, and problem-solving through extracurricular activities (for example, debate club, student council, sports teams, or any leadership role).

At the same time, seek out chances to learn about the legal profession. This might mean attending a law firm’s open day, shadowing a local solicitor, or joining a law summer school.

Our dedicated guide to the best work experience for law contains more suggestions.

Secure a training contract

Ultimately, to become a solicitor at a Magic Circle firm, you’ll need to obtain a training contract with one of them. A training contract is a two-year apprenticeship at the firm after you finish university (and any law exams).

Most firms recruit trainees two years in advance, mainly through their internships. That means by your penultimate or final year of university, you’ll be applying for these positions. The process is competitive – typically involving an online application, aptitude tests, and interviews or assessment centres.

Magic Circle law firms internships

In the UK, internships at law firms are called vacation schemes. A vacation scheme is a short placement (usually one to three weeks) that you do during university holidays to experience working at the firm.

All the Magic Circle firms offer vacation schemes for students (typically in your second year of a law degree or third year of a non-law degree). These schemes are more than just work experience – they are the primary route to securing a training contract (a graduate job as a trainee solicitor). In other words, if you impress the firm during the vacation scheme, there’s a good chance you’ll be offered a trainee position to start after you graduate.

Because of this, vacation schemes at Magic Circle firms are highly competitive. Hundreds of students vie for a limited number of spots each cycle. The application process usually involves an online form, maybe some aptitude tests, and an interview (or assessment exercises) if you get through initial cuts.

If you’re aiming for a Magic Circle firm, you will want to apply for their vacation schemes early in your university life. It’s a great opportunity to learn and make connections – and success there can effectively secure your career entry point. Even if it’s challenging to get in, doing a vac scheme is immensely valuable for your CV and skills.

Many candidates who miss out on Magic Circle schemes might do internships at smaller firms first and try again – so there are multiple paths. The key is to seek out some legal work experience because it makes you a stronger candidate and also helps you confirm that this career is right for you.

What are the preferred universities for Magic Circle firms to hire from?

A common question is whether Magic Circle firms only hire from certain universities. The official stance is that they consider applicants from any university – there’s no list of “preferred” universities you must attend.

In practice, however, a large proportion of Magic Circle trainees and lawyers did study at some of the more highly ranked universities. Oxford and Cambridge graduates, for example, are numerous in these firms.

Many others come from Russell Group universities (the big research universities in the UK) such as Durham, Bristol, Nottingham, Warwick, and the London universities (e.g. LSE, UCL, King’s College). These universities produce a lot of candidates with top grades and opportunities to build relevant skills, which likely contributes to their strong showing in Magic Circle recruitment.

That said, it is absolutely not a requirement to have gone to one of these universities. Magic Circle firms increasingly emphasise that they value diversity and are keen to recruit talent from all backgrounds. Every year, they do hire trainees who studied at a wide range of universities – including less famous ones – as long as those individuals shine in the application process. Your goal should be to excel wherever you study.

In short, attending a world-renowned university can be an advantage in terms of networking and opportunities, but it’s neither a golden ticket nor a strict necessity. Magic Circle firms want the brightest and most driven candidates – and those can come from any university. Focus on your own achievements and skills, and you can make a strong impression regardless of where you come from.

Expert Support for Law Applications

If you’ve got your sights set on a Magic Circle firm, you’ll need to excel in your legal studies as early as possible. That means studying law at a top university.

At Dukes Plus, we’ve been helping law applicants get into leading universities since 1999 – including Oxford, Cambridge, UCL and more. Our law admissions consultants are experts who can support you with everything from LNAT preparation to personal statements and interviews.

To learn more about how we can give your law application a boost, book a free consultation with our friendly team.