The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
CMS Cameron McKenna’s retention rate for London-based trainees due to qualify next spring has plummeted to just over 60 per cent.
Thirty final seat trainee solicitors are competing for just 19 jobs when they qualify in February 2011, with more than 10 per cent of the newly qualified (NQ) roles based between the firm’s Aberdeen, Bristol and Edinburgh offices.
Graduate recruitment partner Simon Pilcher said: “Traditionally, we’ve had a high retention rate and in an ideal world we’d like to offer every trainee a role. However, in such challenging times we need to be prudent and we can only offer roles for which there’s a business need.”
The new figures have tumbled from previous qualification rounds at Camerons, with almost 82 per cent of NQs being retained in September 2010 and 79 per cent in March.
Camerons is the first firm to reveal its spring 2011 qualifier statistics, with previous announcements in August and September showing improved results from most firms.
Magic circle firms Allen & Overy and Freshfield Bruckhaus Deringer, for instance, reported NQ retention rates of 80 per cent and 89 per cent respectively.
Other firms boasted over 90 per cent, including White & Case, Baker & McKenzie, Slaughter and May and Shearman & Sterling.
A spokesperson said Camerons’ trainees have until Monday (29 November) to make their applications and therefore no decision has been reached as to who will be offered the positions.