Dip in retention form for City duo
International outfit Trowers & Hamlins and private client specialist Withers have revealed mediocre 70%-ish autumn retention scores.
Trowers, which offers around 23 training contracts annually, has kept hold of seven out of ten of its trainees due to qualify this September, giving the firm a retention result of 70%.
The outfit confirmed that the newbie lawyers will take up positions within its commercial property, corporate commercial, projects and construction, and real estate departments. Four will be based in London, two in Exeter and one in Manchester. Legal Cheek’s Most List shows that those starting lawyer life in the City will pocket a salary of £62,000, while those in the regions will take home £40,000.
Anna Clark, partner and training principal at Trowers & Hamlins, said:
We would like to congratulate our outstanding trainees on becoming qualified solicitors. Their effort and hard work has been much appreciated, and we are delighted to offer them permanent roles to grow and prosper in their legal careers here at Trowers.
Meanwhile, Withers — the go-to law firm for the rich and famous due to its expertise in wealth planning and privacy — has notched up a retention score of 73%. The outfit confirmed that eight of its 11 trainees due to qualify this September had accepted permanent associate positions. Withers’ new crop of legal talent will trouser a salary of £60,000.
The latest figures mark a slight dip in retention performance for both firms. Earlier this year Trowers posted a 92% spring result, keeping 11 of its 12 second year trainees. Meanwhile, Withers — which, unlike most City firms has just one intake each year — posted an autumn 2016 score of 83%.
It’s been a busy few days for retention news. Earlier this week, Fieldfisher (100%), Slaughter and May (91%), Ashurst (95%) and Shearman and Sterling (87%) all posted impressive results.
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