Pinsent Masons has announced its newly qualified (NQ) retention rates with 79 per cent of trainees being kept on for March 2011.
The top 20 firm has offered 11 out of 14 of its final seat trainee solicitors a permanent NQ position, showing a steady result compared with other firms’ Spring 2011 retention rates.
Meanwhile, Wragge & Co’s retention rate plummeted to 72 per cent, keeping five out of a cohort of seven qualifying trainees, although one of the seven trainees opted not to apply for a permanent position with the Birmingham giant.
The figures showed a drop from last year, when 86 per cent of its qualifying trainees were retained in March 2010, and 92 per cent were offered a place in September 2010, although one trainee dropped out of the running.
Elsewhere, Stephenson Harwood was the second firm to announce a 100 per cent NQ retention rate for 2011, with all five qualifying trainees being given a position at the firm.
The news arrives after several top law firms revealed their retention rates, with US firm Weil Gotshal & Manges being the first to reveal a 100 per cent retention, while Slaughter and May remains the highest for the top ten City firms offering jobs to 96 per cent of its trainees.
Meanwhille, the other members of the top ten with spring qualifiers revealed steady figures all round, with Allen & Overy offering jobs to 87.5 per cent of its trainees and Norton Rose announcing a figure of 86 per cent.
However, Hogan Lovells’ preliminary results showed a dip from last year’s, with the newly merged firm offering around 66 per cent of its Spring qualifying trainee’s NQ positions.