If you are applying for training contracts you should keep an eye on law firm trainee retention rates as they are published. After all, the ultimate goal of completing a training contract is to become a newly qualified (NQ) lawyer so a firm's retention rate may play a role in your decision where to apply.
Leading global litigation funder, Harbour has launched a training contract starting this September after receiving authorisation from the Solicitors Regulation Authority (SRA).
Allen & Overy (A&O), Herbert Smith Freehills (HSF) and US firm Reed Smith have helped to quash the nervousness among trainee lawyers across the City, with each keeping over 90% of their recently qualified trainee intakes.HSF has kept on 39 of its 42 trainees as newly qualified lawyers, giving it a retention rate of 93%. All 39 trainees offered a permanent job at the firm accepted, with one trainee having chosen not to apply.
Allen & Overy has announced an 86% retention rate for the trainee intake qualifying in September 2015. 42 of the 44-strong intake applied for NQ positions. All but one of these received offers, and 38 ultimately accepted positions at the firm.
For Allen & Overy’s full Lex 100 2015/16 profile, see here
Magic Circle outfit Allen & Overy commands acclaim for its finance and projects work, and possesses an enviable list of blue-chip corporate clients. Unsurprisingly, trainees chose to laud A&O as a ‘prestigious firm with an outstanding reputation’. The firm is also deemed to have a ‘commitment to teaching’ and a ‘focus on innovation’.
Allen & Overy (A&O) has published a solid trainee retention rate of 91% for spring 2016. From a total intake of 43, 41 trainees applied for newly qualified (NQ) positions at the firm. 39 offers were then made, with all of them being accepted.
Magic Circle giant Allen & Overy has released its spring 2017 trainee retention rate.
Below is a fully interactive table, which shows the pay for those firms who have an extended profile with The Lex 100. If you'd like to compare firm's survey results go to our brand new Law Firm Comparison table or click through to our Firms section for a more detailed analysis of each firm.
Tweets by @TheLex100