96%
CMS has retained 24 of its 25 trainees due to qualify this spring.
The international firm confirmed to Legal Cheek that none of the newly qualified (NQ) lawyers are retained on a fixed-term contract (FTC), handing it a spring retention score of 96%.
Twenty-two new associates will qualify in London, whilst the firm’s Bristol and Dubai offices will gain one NQ each.
In terms of the practice areas they will specialise in, five NQs will join the firm’s energy, infrastructure and project finance team; four are headed to technology and media; and another four will join the corporate team. Three rookies are bound for the firm’s insurance and reinsurance practice; two will enter real estate; and another two will qualify in litigation and arbitration. Corporate and leveraged finance; capital markets and derivatives; funds and indirect real assets; and employment all gain one NQ each.
The new qualifiers in London will start on a recently improved salary of £95,000, Legal Cheek‘s 2022 Firms Most List shows. The NQ rate in Bristol is £61,000.
CMS’ spring score is in line with its autumn score when the firm kept 47 of its 51 qualifying trainees. One NQ was retained on a FTC, handing the firm an autumn score of 90%.
CMS became the second highest training contract provider in the UK in August last year, when it increased trainee places by 20% to 95. CMS is beaten only by Linklaters which offers around 100 training contracts each year.