66% and 36%
RPC and Reed Smith have recorded low scores in the latest trainee retention season.
RPC, which has 18 trainees set to qualify later this year, is retaining 12 of them, equating to 66%. Of the 18 trainees, 17 applied for roles within the firm, with one opting to focus on a practice area not currently offered by RPC.
The firm said that the five final-seat trainees who were unsuccessful in their applications “applied for highly competitive roles within RPC and, unfortunately, were not successful in securing positions in those popular practice areas”.
This result is down slightly from last year’s figure of 81% (13 out of 16).
Meanwhile, Reed Smith confirmed it has retained four of its 11 trainees. Whilst eight applied for roles, only six were made offers, and four accepted. This gives an overall retention score of 36%.
This is a reduction from the firm’s spring retention score when it retained eight out of 13 NQs, or 62%.
Commenting on the latest retention, David Ashmore, Reed Smith’s Training Principal, said: “Congratulations to our new class of associates, who expand the next generation of talent at the firm. We are proud to be investing in their future successes and career development.”
“In a competitive market, we continue to work hard to attract and retain our talent.”
Both firms have recently increased their NQ salaries, with RPC boosting pay within its London commercial team to £90,000, whilst Reed Smith has increased NQ rates to £125,000.
This retention season has already seen some low scores, including BCLP which recorded a rate of 58% (11 of 19), and A&O Shearman, which posted a score of 66% (37 of 56).
At the other end of the spectrum, Burges Salmon clocked a perfect 100% in its latest round, keeping on all 24 qualifying trainees in permanent roles.