37 of 43 and 36 of 43
Freshfields and Slaughter and May have posted strong autumn trainee retention scores of 86% and 84% respectively.
This makes Freshfields the top performer within the Magic Circle so far, keeping on 37 of its 43 qualifying trainees. All rookies who were offered a role accepted it.
Slaughters comes in at a close second, retaining just one fewer with 36 out of 43 trainees. The firm confirmed to Legal Cheek that all NQ solicitors have been retained on permanent contracts.
Earlier this week Clifford Chance announced that it was keeping on 75% of its trainees (42 of 56), with A&O Shearman earlier recording a retention rate of 66% (37 of 56).
Linklaters is the only Magic Circle firm not to have released its retention figures so far.
Whilst Freshfields’ retention has stayed relatively level across this year, posting an 84% score for its spring qualifying cohort, Slaughters’ score had dropped slightly, falling from a very impressive 95% spring score.
Speaking on the latest retention figure, Craig Montgomery, partner and training principal at Freshfields, said:
“We are thrilled that many of our trainees are choosing to advance their careers at Freshfields and their exceptional skills and dedication during the Trainee Associate Programme have been impressive. Our commitment to their development reflects our belief in fostering a strong, diverse workforce for the future and is a vital part of our strategy to cultivate a dynamic and forward-thinking global firm.”
Earlier this year Freshfields raised NQ pay to a new high of £150,000, with Clifford Chance, Linklaters and A&O Shearman all swiftly following.
Slaughters is the only Magic Circle firm to have kept its NQ salary at £125,000 so far, although it has raised trainee pay in line with its Magic Circle rivals.