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Well The New Silks List Will Be Announced By
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Penrose2017
Posted - 11 January 2017 22:40
The End Of The Month. I bet there are many families, friends, and other wetting their lips in anticipation. Can you imagine the amount of younguns 10 -15 years call, aged 30 to 35 who are going to see their earnings and charge out rate double, and the huge dosh they will now earn.


Who would want to be a solicitor, grasping at a shot of "partnership" a t 10/15 years PQE, when you can be a PI/Clin neg/employment silk and look forward to pre- tax earnings of £1MM Plus..
Lord Judge
Posted - 11 January 2017 22:43
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£1m netnet is what you mean...

Or is not Matty that uses that term?

Either way, it's funny.
🐝 buzz
Posted - 11 January 2017 22:43
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How many silks get the nod at 35 or under?
Penrose2017
Posted - 11 January 2017 22:46
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Buzz, don't know , as the announcement is not until the end of this month. My guess is there will be 6 or so? Place your bets. I know of 2 who have applied, under 35, but they are putting a marker down as much as anything.
Penrose2017
Posted - 11 January 2017 22:47
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Judge, you are bad!
🐝 buzz
Posted - 11 January 2017 22:47
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Well if that's right the answer to your question is 6 or thereabouts.
nernernernerner
Posted - 11 January 2017 22:49
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This is total bait and I'm not biting.

But number 1, no one gets silk at 35 or under. Exceptions to everything but that's the rule.

Number 2. Partners outearn senior barristers. Salaried US partners are c.350-450k. Equity 1-2m+.

Most senior barristers plateau in the low 6 figures. You'll most likely take a cut when becoming QC esp in PI/employment. Most becoming silk are in the 150-300k area and becoming silk, most towards the lower end of that.

At the very top sets, individuals can earn more than those in city law firms, but outside of these and including many, if not most, of the Bar top 30, over their careers they earn less than city lawyers and almost all outside a coterie earn less as solicitors become partners.

Number 3. Expenses, chambers rent and wigs.
Penrose2017
Posted - 11 January 2017 22:50
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Buzz, I meant last time round it was about 6 who got the nod who were under 35 give or take. The last few years has produced more than that who were 15 years call or less. Albeit some were career changers.
🐝 buzz
Posted - 11 January 2017 22:51
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Salaried US partners are c.350-450k

Lol
Penrose2017
Posted - 11 January 2017 22:55
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Matty, Bazzas do get made up under 35, or under 15 years call.


Big lol at salaried partners in US firms , who are newly made up on 350-450. What about MC/SC firms Matty?
Penrose2017
Posted - 11 January 2017 22:57
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Buzz, are u saying SP's at US firms are on 350-450 k? Sounds punchy to me?
Lord Judge
Posted - 11 January 2017 22:57
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I'm a solicitor but...

1. Bazzas make more money. They get all the rich women too.

2. You underestimate how much a half-decent bazza in London earns...

3. Heh at using supposed US rates v average barristers.... or even City solicitors v avg barristers... compare average bazza v average solicitor and see where you get to...

And you accept on your own case ( ) ... :

4. that "most" bazzas earn in the low 6 figures... most solicitors don't make it to that point... in the City maybe but otherwise, no they do not.

5. "at the very top sets individuals cna earn more than those in city law firms"

sub-standard trolling Matty

Lord Judge
Posted - 11 January 2017 22:58
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I am a salaried partner in a US firm on 2371284703847023874092384903824908234098234082390475875984759438758437590438509834584 395874398584930859403906854690806590468430985904859347598437589760890 schillings a year ... so Matty must be right
🐝 buzz
Posted - 11 January 2017 23:00
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Nope. In most cases much less on first being given a badge. But of course any reflection of reality isn't really part of Matty's gameplan here.
misshoolie
Posted - 11 January 2017 23:00
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Oh my Christ this again.
Penrose2017
Posted - 11 January 2017 23:04
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Miss H, Matty is back, play please.
Penrose2017
Posted - 11 January 2017 23:05
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And so is hugheyy talking about his £1.8MM gaff in Redland he bought before Xmas....
misshoolie
Posted - 11 January 2017 23:07
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FFS you're as bad as each other.

Your frotting over people you either do know, in which case banging on about it here is weird; or don't know in which case it's really fan boy and odd

His tragic low rent American psycho tribute act.

🐝 buzz
Posted - 11 January 2017 23:09
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Less of an American Psycho tribute act and more of a Morrison's "Oops, we dented the can" shelf tribute act imo.
Penrose2017
Posted - 11 January 2017 23:10
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Miss H, I kmow lots of bazzaz, I was at Bar School, with lots who became my closest friends, I was in Chambers doing a pupillage , with some of whom became my closest friends, I had a tenancy briefly, and then instructed them, and I shared a house with many, one of whom has applied for Silk as I say.
nernernernerner
Posted - 11 January 2017 23:13
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At c. 5+ PQE, you're over 200k and by 8 PQE closing on 300k with bonuses. Salaried partner salaries go from over 300k easy peasy.

Market's changed, grandad.

Lord Judge, you make a series of points which are actually the same point. That I'm comparing apples and oranges, and fair enough. When I talk about "city" solicitors, I really only mean US/MC lawyers. I've never sought to compare the average solicitor with the average barrister, as if anyone could do such a thing.

What I have said is correct and nuanced. Those working at the very top commercial sets will probably outearn those in city firms. Those outside e.g. Hardwicke, 7BR, 11KBW, Outer Temple, 2TG...will earn at best about as much as the MC lawyers, and probably less. And some cases definitely less. And in the LR will have less earning potential as partners make more than senior barristers. Exceptions of course to this.

Outside of the sort of ordinary commercial/excellent employment/public/PI sets, earnings at the bar has a significant drop - Farrer's Building or 5 Essex Court will have people struggling to keep up with the silver circle firms, and probably will be earning Stephenson Harwood salaries. These are all non entities to me.
🐝 buzz
Posted - 11 January 2017 23:17
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Oh do shut up Matty you child. Some of us have actually done this quite recently while you were still shitting in your pants and burning the midnight oil at the photocopier.
The Real Anna
Posted - 11 January 2017 23:18
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Matty, where have you been for the last month or so since your most recent spack out on here? We all know you have no life, so where did you disappear to?
nernernernerner
Posted - 11 January 2017 23:19
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My understanding you did this in the 1920s when you still had hair, whilst I am doing this now. Thanks.
🐝 buzz
Posted - 11 January 2017 23:20
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*yawn*

It's like a shìt hyoo
nernernernerner
Posted - 11 January 2017 23:23
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Well, you're wrong on the figures. You just are. You haven't been bold enough to put a number on it, you've just mocked real world figures I put up. As in with bonus, some firms are paying that. So you're wrong. And you're throwing your toys out of the pram.
🐝 buzz
Posted - 11 January 2017 23:26
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*yawn*

Like an even shitter hyoo with every post.
Penrose2017
Posted - 11 January 2017 23:26
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Bonuses Matty in law are minimal as a percentage of guarantee salary. It is not the same model as Ibanking or PE, where bonuses generally make up the greater part of one salary.

Bonuses might be more appreciable if you are a SP, on an earn out. But a bog standard SP salary will be basic, even at US shops.
Penrose2017
Posted - 11 January 2017 23:27
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Matty, what is your source please?
🐝 buzz
Posted - 11 January 2017 23:28
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Probably meths or turpentine.
🐝 buzz
Posted - 11 January 2017 23:29
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He'll have a double. No ice.
nernernernerner
Posted - 11 January 2017 23:31
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Bonuses aren't that minimal and are paid in relation even in London to the Cravath scale. Minimal compared to IB or banking. Still associates in London can eat 50k+ bonuses. And at the very top close to or over 80k. Salaried partners operate in a different way and depends on the model the firm uses, often it's hybrid.
🐝 buzz
Posted - 11 January 2017 23:36
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So we've now moved down from a minimum of 350k to a minimum of £300k. Should I bother hanging around to see where you get to by midnight Matty?
🐝 buzz
Posted - 11 January 2017 23:40
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Plenty of US firms pay new salaried partners at just below or around £200k
Penrose2017
Posted - 11 January 2017 23:43
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Maty a hybrid of fvcking what you loon? You saying a service partner who is an SP, is on an earn out or profit share for doing work handed to them!!?
If a Cravath 5 year Associate is on say 175, are u suggesting they get a bonus of 50k , about 1/3rd of their base?
nernernernerner
Posted - 11 January 2017 23:43
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So I think you're a shining example of how far mediocrity and average intelligence can get you as a solicitor, buzz.

Genuinely, it's a compliment.

Of course I didn't say 350 was a minimum. I just said c.350-450. I shouldn't have to explain what "c." means. I then later said "over 300 easy peasy". As a matter of basic reading comprehension, your illegitimate 3 year old could see the two are not contradictory.

Meanwhile you make, or at least did make, far more than a barrister who got a double first from Oxford and slogged his guts out in xyz very good set.

Good show.


Penrose2017
Posted - 11 January 2017 23:45
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Buzz, but Cravath is not just any US firm as Matty will attest to, these guys have associates who earn 50% bonus on their base, I will have you know.
🐝 buzz
Posted - 11 January 2017 23:47
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So it would be equally true to say they were on c.150k-750k. But you didn't mean that did you you silly boy. Oops. You appear to have to come rather unstuck there when you said go from 300k. But in the intervening few minutes that had escaped your tiny little mind. Sorry!
Penrose2017
Posted - 11 January 2017 23:49
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Matty, what you say about Buzz, assuming you are correct, what does that say about you, with your incredible intelligence at a mega non MC.US/SC firm who has still not reached partnership, despite you being 10 years PQE. What does that say about your brilliance?


Buzz is a partner, you are not, he night have a tad more understanding than you about such matters? No Associate gets 33% of base as a bonus.....
🐝 buzz
Posted - 11 January 2017 23:49
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Yes picking an outlier an excellent way to make a general point about US firms. Matty isn't the sharpest tool in the box though.
nernernernerner
Posted - 11 January 2017 23:50
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Cravath scale for 5 year associate now is c.200k + 50-55k bonus, but few firms will match that in London.

And I mean hybrid equity.
nernernernerner
Posted - 11 January 2017 23:53
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Under 200 for a US partner...he's delusional or works for an odd shop. Maybe it's Locke Lord or something, I don't know. The figure he just produced is veritably untrue for the majority of US firms in London, a figure which will see junior associates touching.

But it's to be expected as I've suggested above.
🐝 buzz
Posted - 11 January 2017 23:54
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**** is Matty 10PQE? Christ even a numpty like me was made up at 7PQE.
Penrose2017
Posted - 11 January 2017 23:54
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Buzz, I doubt if a 5 year PQE solr at Cravarh makes 250 all in, comprising 200 base and 50 bonus.It is like saying a PE Investment Manager at Blackstone , with 5 years experience make £1MM., not including carry.

By hybrid do you mean FSP's?
nernernernerner
Posted - 11 January 2017 23:55
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I'm not 10PQE. But I am up to speed on the numbers.
🐝 buzz
Posted - 11 January 2017 23:55
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When where you last a partner in a US shop and when did you last apply for a position in one Matty? I'm guessing never.
nernernernerner
Posted - 11 January 2017 23:56
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And I'm up to speed on the numbers for obvious reasons, sweetheart.
🐝 buzz
Posted - 11 January 2017 23:57
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Fucking hell Matty. Not on track for a partnership badge but you are pushing 10PQE though. Probably best to end it all now.
Penrose2017
Posted - 11 January 2017 23:58
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And he is on 200k, according to him, not bad for an assistant at a non US/MC/SC FIRM..

Matty you must be 10 years PQE, as you said repeatedly you got an offer of a pupillage at a top commercial set ten years ago but declined it, as there was no money in it??? Remember?
🐝 buzz
Posted - 12 January 2017 00:01
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Anyone would think he just makes all this up.
nernernernerner
Posted - 12 January 2017 00:02
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You're winding me up. It wasn't a "top" commercial set. And I have never said I do not work for such a firm. I have given a 5-10 PQE range which I might be in. I have said I am on track for partner.

I'm not giving you anymore.

Just FTAOD, because of the salary increases in law firms in relation to inflation, and because of inheritance and parental property, I am exponentially better off than buzz ever was in relation to my PQE.
🐝 buzz
Posted - 12 January 2017 00:03
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You don't actually know what exponentially means do you?
🐝 buzz
Posted - 12 January 2017 00:06
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Apart from those numerous times you've mentioned not being on track for partner. To be fair to the partners in your firm, I wouldn't make someone up who was unsure whether or not he was on track so a sensible decision by them.
nernernernerner
Posted - 12 January 2017 00:07
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I think I meant to say I am better off than you in relation to your age/PQE every year that goes by. Property increases. Salary increases a lot in relation to inflation.
nernernernerner
Posted - 12 January 2017 00:10
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I didn't necessarily say that.

Just because you're given the expectation you're on track, doesn't mean you'll get it. It's luck, timing and sometimes people say things and mismanage your expectations. That's life. You can be told you're doing great and then there's a restructuring and you're gone.

You can never predict the future. I can though. And i'm on track.
🐝 buzz
Posted - 12 January 2017 00:11
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Well it's nice of you to tell us what you think you meant to say. Dare I hope that you'll eventually say exactly what it was you meant to say?
🐝 buzz
Posted - 12 January 2017 00:13
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Heh @ others mismanage your expectations. No, you mismanage your expectations. They'll be perfectly happy with how they've managed them.
Penrose2017
Posted - 12 January 2017 00:14
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Matty u said , you obtained a pupillage at a top non MC set, ten years ago, that makes you ten years qualified or there abouts. Shall I spend time copying and posting the post?

Salary increases a lot in relation to inflation? Does it now. If you are a partner , in a lock step shop on 300k, do you think next year you are on 306k matty, or more.

For what its worth you are not on partnership track, if u were u would have a basic understanding of the fundamentals. And you don't .
nernernernerner
Posted - 12 January 2017 00:14
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Anyway, you've very nicely diverted from the fact you were grossly wrong on US partnership figures. That or you've unwittingly revealed you've worked at the arse end of the US, possibly in some kind of transatlantic merger or some bastardisation of one like Locke Lord.
Penrose2017
Posted - 12 January 2017 00:15
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Matty if you are on track, why are you interviewing at MC firms, according to you? Why not stay put?
🐝 buzz
Posted - 12 January 2017 00:16
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Took a few posts longer than expected but I'll take this as a win. Thanks Matty.

http://www.rollonfriday.com/Discussion/AccommodationWanted/tabid/81/Id/11381695/c urrentPage/0/Default.aspx

nernernernerner
Posted - 12 January 2017 00:17
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So then if I obtained the pupillage when I was an NQ, it would make sense that I would be about 10 PQE now. Except I didn't say that.

This is really a bit of a cripple fight. Especially from buzz.
Penrose2017
Posted - 12 January 2017 00:18
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Matty the senior partners at KKR,and Blackstone bagged 50-100 million bags sterling last year,is that the norm,?
🐝 buzz
Posted - 12 January 2017 00:18
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Lolz. Game set and match to me.
Penrose2017
Posted - 12 January 2017 00:21
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OLPAS was ten years ago, or maybe more. I have been through the system, so I know. You said u applied through OLPAS.
nernernernerner
Posted - 12 January 2017 00:22
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Not sure what game you're playing but in the real world you've been pawned.
🐝 buzz
Posted - 12 January 2017 00:24
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No repechage for first round losers in this tournament Matty. Best get back to putting that Bible together.
nernernernerner
Posted - 12 January 2017 00:26
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OLPAS was around 7/8 years ago, after I applied

I applied before I took my TC.

That doesn't mean I applied 7/8 years ago, or 12/14 years ago. I means I applied when I applied.

HTH
🐝 buzz
Posted - 12 January 2017 00:28
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Aw bless. I can just imagine the tears are beginning to flow now.

*dangles partnership carrot on fishing line*

*attaches fishing line to Matty's head*
nernernernerner
Posted - 12 January 2017 00:32
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I find this funny because I have indicated I am going through the processes right now. Obviously I can't say anything more than that. I am holding something carrot shaped right now and I am pulling on it. I am almost on cloud 9 right now. This is why I've been absent. I'm actually doing pretty well.

OK, best of luck all.
Penrose2017
Posted - 12 January 2017 00:35
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Maty, this is utter bollocks,and you know it is. You got an Inn scholarship u said and to do that you had to be a member of an Inn and on the BVC.

Now if you did the LPC, and decided to to subsequently do the BVC you are not entitled to EVEN apply, agreed?

When did you get this scholarship matty. Now remember I have been through the process, as has someone sitting here now, and a cousin. Said cousin applied before OLPAS, what was the system called then?

And if you did the LPC , and decided to become a bazza, my recollection says you didn't have to do the whole of the BVC. !! So when was it?

This is becoming a Tec Rugby/I played for Colstons best team ever. FFS.
🐝 buzz
Posted - 12 January 2017 00:35
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"I am holding something carrot shaped right now and I am pulling on it."

Don't imagine for a moment that anyone else thought otherwise.
nernernernerner
Posted - 12 January 2017 00:45
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The process re joining the Inns, applying for scholarships and the BVC has not changed. So I question the veracity of what you have said about becoming a barrister because the above has never been correct.
Penrose2017
Posted - 12 January 2017 01:02
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When did you get your Inn scholarship matty? You are now saying it was pre OLPAS, if that is the case you must be nearer 15 years PQE. When did you get your pupillage offer?

You are now suggesting u applied before OLPAS, What was the on line system called then?

Yes your post above is correct, so u got an Inn Scholarship, whilst SRA registered , doing the LPC right, yes or no?

Here comes the radio silence. I might be wrong I am guessing you are a paralegal>

If you did the BVC, name 3 core subjects and the pass marks required?
Penrose2017
Posted - 12 January 2017 01:03
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What was the name of the scholarship?
Lord Judge
Posted - 12 January 2017 07:48
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Loving the work here.
unpresidented
Posted - 12 January 2017 08:08
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More to the point, when did you get the blow to your head.....?
PhoenixSunsOutGunsOut
Posted - 12 January 2017 14:34
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List is out. 6 solicitors got made up.
Nexis
Posted - 12 January 2017 14:56
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Good lord. Is this nonsense still going on?

Generally, wot buzz said.

Penrose2017
Posted - 12 January 2017 14:57
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So the youngest silk was 37, bloody impressive but I was 2 years out. Be interested to see the range of call levels , before they got the nod.
Penrose2017
Posted - 12 January 2017 15:07
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Well there are loads who got it in the 14-16 years post pupillage. One of whom came in and did Advocacy excersises with us at Bar School, and then was on the panel when I interviewed there, and then I attended a trial with him as a mini-pupil. He is a really nice genuine chap, and a brilliant lawyer. He was marked out by our tutors and members of his chambers as being a Silk in record time if he wishes. This was when he was about 4 years call! Well done him.
Penrose2017
Posted - 12 January 2017 15:35
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Well in total there were 11 who got silk, who were 14/15 years call, or ten percent of successful applicants which is a lot . There was even a criminal bod just 14 years a tenant who got the nod. Criminal silks have historically taken silk at 30 years plus stage.
Penrose2017
Posted - 12 January 2017 15:45
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Well in total there were 11 who got silk, who were 14/15 years call, or ten percent of successful applicants which is a lot . There was even a criminal bod just 14 years a tenant who got the nod. Criminal silks have historically taken silk at 30 years plus stage.
cockpit
Posted - 12 January 2017 15:47
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oooh, there's someone on the list whom I fancied rotten whilst at university!