A host of firms have revealed their retention figures for 2020.
Slaughter and May made offers to 38 of 41 final-seat trainees, all of whom accepted on permanent contracts. In a statement, a spokesperson said: “This strong showing bodes well for the long-term future of the firm.” The result exactly matches Allen & Overy, which also kept on 38 of 41.
Results are less strong at Herbert Smith Freehills, however, which has retained 22 of 32 final-seat trainees, with one of them on a fixed-term contract, after 29 applied for jobs. The firm cited the “unprecedented uncertainty” of Covid-19 as a reason for the low retention figures.
Mayer Brown is also keeping one trainee on a fixed-term contract in its employment team, in addition to six staying on a permanent basis, out of a total of 10 qualifiers.
Three of those retained permanently will join the litigation practice, with the other three going to intellectual property, employment and corporate. Training principal Stuart Pickford said: “Our retention record reflects our ability to attract and retain the very best talent, and we are delighted that six of our qualifiers have accepted a permanent role at the firm. We always aim to match the needs of the business with the first choice of our trainees; however, we accept that this is not always possible. Congratulations to our 2020 autumn qualifiers, who have thrived over the past two years and I wish those pursuing opportunities outside the firm every success.”
Meanwhile, Baker & McKenzie had 18 newly-qualified jobs available for 17 trainees. Of those, 14 were offered positions and all accepted for a final retention rate of 82 per cent. All are on permanent contracts. The three candidates who were not successful had applied to oversubscribed teams.
Five Bakers trainees will become NQs in the corporate department, three will join employment, two go to banking, two to competition and once each to disputes and tax.
Training partner Arron Slocombe said: “We are delighted to welcome another strong group of trainees into permanent roles as qualified lawyers across both our transactional and advisory departments. This autumn’s retention rate remains high and represents our ongoing commitment in attracting and retaining the very best talent to help grow our business in the future. We wish them every success in what, we hope, will be a long and fulfilling career.”