News that the Law Society is turning its attention to the wide-eyed law students at the very beginning of their legal careers is welcome, but it may be a case of too little too late.

The Law Society is now addressing a problem which has required attention for some time, with no one to date prepared to take responsibility. For the past five years the number of Legal Practice Course (LPC) places – and consequently LPC graduates – has significantly exceeded the number of training contracts available. Over time, this has led to bitter competition for places, not only at the magic circle firms, who take on hundreds of trainees each year, but also through the regions, on to the high street and crucially in the long-suffering legal aid firms. Many students have sat and re-sat exams, completed hundreds of application forms and been rewarded with letters of rejection. News that a career in the law is no longer an easy ride to a champagne lifestyle and early retirement may not be a shock to some, but to the students who have been dazzled by glossy brochures provided by law firms and LPC providers the reality can be hard to take.

The number of solicitors on the roll has increased from 75,072 in 1998 to 112,433 in 2008, an increase of 49.8% in only 10 years. Clearly the profession cannot sustain such a large intake year on year. Demographic and economic shifts have also meant that solicitors, along with the rest of society, are working until much later in life. A collapse in pension provisions, salary freezes and a hollow property market will all mean that senior partners are going to be hanging around the office that much longer. The imminent introduction of alternative business structures will also be a shock to the whole system as 'Tesco Law' threatens the traditional high street solicitor. At the same time, anyone with their heart set on a career in criminal law should take time out to consider the anticipated effects of 'Best Value Tendering' on the marketplace.

In 2008 there were 7,606 passes from the LPC with 6,303 new training contracts registered. Add to the mix the unfortunate jobless LPC graduates from the past five years (say, 6,500), barristers transferring (286 in 2008 and set to increase) and foreign lawyers re-qualifying (1,593), and an even worse picture emerges. On top of this there are all the students who have had their training contracts deferred or even cancelled, plus the mass of recently laid off lawyers.

Training contracts are, of course, only the stepping stone. On the basis of this year's newly qualified solicitor retention rate figures to date, it is forecast that the number of trainees not retained by their firms upon qualification is likely to rise to 30% this September (from 10% 12 months ago).

So who is to blame? Is it the SRA for allowing LPC institutions to expand their available places year on year? Is it the LPC institutions for blinding their paying customers with success stories and branded pens? Are the careers services to blame for being overly upbeat? The students themselves for not researching their careers? Or is it the credit crunch and Gordon Brown?

But when it comes down to it, blame isn't too important. What needs to happen now is for the profession to react in such a way that new solicitors continue to be representative of the society they serve. As competition becomes fiercer, let's hope that the profession does not revert to the preserve of the old boys' public school network of yesteryear and true diversity continues to succeed. That is the true challenge facing the profession.

Kevin Poulter is member of the Law Society Junior Lawyers Division board and a solicitor at Wake Smith & Tofields. The views expressed in this article are not necessarily those of the Junior Lawyers Division.

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