The demand for Training Contracts far outnumbers the supply of students. There are approximately 30,000 potential applicants across the country for 5,000 – 6,000 Training Contracts per year; a chance of approximately 18.5 per cent. This figure is closer to 5% at the most prestigious international firms.
High standards are anticipated. In most cases, this entails a minimum of a 2:1 degree, As and Bs at A-Level, relevant work experience or vacation schemes, and a high level of commercial awareness, depending on the firm.
The application process is multi-layered and involves some or all of the following:
Detailed written application
Psychometric tests
Verbal and numerical reasoning tests
HR interviews
Assessment Centres (involving commercial problem exercises, presentations, group exercises, negotiating exercises etc)
Partner interviews