Cleary bucks trend with 100 per cent retention rate

Cleary Gottlieb Steen & Hamilton has become the first US firm to announce a 100 per cent retention rate for trainees due to qualify in its London office in the autumn.

Cleary has offered all six of its September 2009 qualifying trainees solicitors jobs at the firm with all six accepting job offers.

Last September Cleary retained all five of its London-based trainees with four qualifying into the corporate team and one into the competition team.

Graduate recruitment partner Andrew Shutter commented: “We pride ourselves on selecting, training and retaining the best possible trainee solicitors. We’re very pleased to have such a strong group of trainee solicitors joining our firm as associates and have very high hopes for their successful careers within the firm.”

The announcement comes after Lawyer2B.com reported that Bird & Bird has retained 100 per cent of its trainees keeping all 16 trainees in London.

The only other US firms to have confirmed retention rates thus far are Shearman & Sterling and Weil Gotshal & Manges, which are holding onto 64 and 85 per cent of newly qualified solicitors respectively.

At Cleary starting salaries will remain at 2008 levels with first year trainees taking home £40,000, second year £45,000 and newly qualified lawyers receiving £92,000.