Top firms reveal autumn retention rates
updated on 22 July 2011
Top law firms have announced their autumn retention rates, following the lead of Shearman & Sterling which revealed in June that it would keep on 11 of its 12 NQs (see "Shearman is first to announce Sept retention rate").
Reported in Legal Week, Slaughter and May tops the bill with a 100% retention rate, after offering all 59 of its autumn qualifiers a job. Herbert Smith will hold on to 44 of its 55-strong intake (equating to a retention rate of 80%), Berwin Leighton Paisner will keep 19 of 20 (95%) and Travers Smith will keep 13 of 17 (76%). Hogan Lovells is to keep 24 of its 33-strong group (73%), A&O will keep 38 of 53 (72%) and Macfarlanes 22 of 24 (92%).
Barlow Lyde & Gilbert (BLG) enjoys an 80% retention rate, having offered eight of its 10 September qualifiers jobs. Managing partner Neville Eisenberg told Legal Week: "The fact that the firm is reasonably busy explains in part why we have a high retention rate. We also intentionally do not recruit huge numbers of trainees, so that we can give our young lawyers the best chance of a job. The objective of course is never to lose anyone, but the difficulty that some firms have experienced in recent years is that one recruits four or more years ahead, so with uncertain economic conditions it's difficult to forecast how many NQs you are going to be able to take on."
