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Thursday, 01 March 2018 09:29

Trainee Retention Rates 2018

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.

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Mayer Brown, Berwin Leighton Paisner (BLP) and CMS Cameron McKenna Nabarro Olswang all advised on the £1.3bn purchase by Hong Kong investors LKK Health Products of London landmark skyscraper, 20 Fenchurch Street, or the ‘Walkie Talkie’.

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Wednesday, 05 September 2018 09:40

Mayer Brown ups NQ pay to £78,000

International law firm Mayer Brown has joined a host of firms to hike newly qualified (NQ) and trainee salaries.

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Chicago-bred Mayer Brown saw its global revenue rise 5.8% to $1.38bn as profit per equity partner (PEP) hiked 8.2% to hit $1.7m in 2018.

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Mayer Brown has confirmed that nine out of 11 of its September 2019 qualifiers will stay on at the firm, amounting to an 82% retention rate.

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Leading global litigation funder, Harbour has launched a training contract starting this September after receiving authorisation from the Solicitors Regulation Authority (SRA). 

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Fried, Frank, Harris, Shriver & Jacobson, RPC, Mayer Brown and Bryan Cave Leighton Paisner were among the firms to enjoy a pre-summer deal rush this week as Sports Direct bought Jack Wills and private equity player Aurelius acquired BT’s fleet business.

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Slaughter and May has become the third Magic Circle firm to announce the retention level of its spring 2015 qualifying group, with 37 of the 42-strong intake set to remain at the firm.

This figure of 88% is Slaughters’ lowest retention score since also achieving the same mark in August 2013. That said, it is still an impressive score, and in-keeping with the firm’s consistently high performance. In the past four years, Slaughters’ rate of retention has ranged between 85% and 100%.

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Mayer Brown has announced that it will be the first City law firm to offer the University of Law’s (ULaw) Articled Apprenticeship scheme, which enables candidates to obtain a degree, postgraduate qualification and the recognised training required for full solicitor status.

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