I have a training contract (TC) lined up to start next September with a top 10 firm. I have been having discussions with friends whose TCs start next September and in two years’ time, all at top 10 and top 20 firms. A couple of those starting in 2009 are worried the credit crunch will mean their TC gets cancelled, especially those that are away on gap years.

I told them it`s unlikely as firms that big, with a broad range of practice areas, could cope with the crunch. Likewise, most are already recruiting for their next intake. Any thoughts?