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Norton Rose Fulbright has revealed a 92 per cent retention rate for its May qualifiers, in its transition to a four-seat system.
The City firm offered 24 of 26 trainees newly-qualified positions with the firm. Of those 24, all accepted.
The firm is currently transitioning to a system whereby trainees will spend six months in four departments and as a result had three qualification rounds in 2013 and a later than usual spring qualification process in 2014. From this autumn, a regular pattern will be restored, with trainees qualifying in March and September.
The firm previously allowed students to take six seats of four months, including a compulsory international seat. Trainees also typically undertook two banking seats, a corporate seat, a disputes seat, plus a seat of their free choice.
The new scheme allows trainees to spend time in corporate, banking and dispute resolution and gives them a fourth option covering an international office, a client secondment or another spell in a London practice group.
Training principal Michael Black said: “We take great pride in our recruitment and training processes and are delighted to have such a consistently high retention rate on qualification.”
Norton Rose Fulbright is the last of the large firms to release its spring 2014 retention figures, in what has been a largely positive season. Among the better performers were Ashurst, which kept on 96 per cent of its qualifiers, and Slaughter and May, which kept on 95 per cent. Eversheds, Nabarro, Olswang, Osborne Clarke and Trowers & Hamlins all kept on 100 per cent of their much smaller intakes. Overall, 24 firms reported results, and a total of 454 out of 526 (86 per cent) of qualifiers stayed on at the firm that trained them.