Firms announce trainee retention rates

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White & Case LLP recently published a 100% retention rate for its trainees who are due to qualify in September, bringing the firm’s overall retention rate for 2024 to 87%.

White & Case’s retention rate has increased compared with previous years, sitting above its five-year average (82%). The firm’s latest cohort are due to qualify across a range of practice areas, including:

• capital markets;
• commercial litigation;
• construction;
• debt finance;
• financial restructuring and insolvency;
• international arbitration;
• intellectual property;
• mergers and acquisitions;
• project development and finance; and
• white collar.

Most of the newly qualified lawyers will remain in London, but six will relocate to the firm’s Abu Dhabi and Dubai offices.

White & Case’s executive partner in London, Inigo Esteve, said: “Recruiting, retaining and developing the best legal talent at every level in the profession characterises more than 50 years of success in the London market since our office first opened in 1971. Trainees join White & Case knowing that we’re committed to supporting the development of our lawyers throughout their careers and have a strong track record of promoting our best associates to partner.”

Meanwhile, Linklaters LLP becomes the latest magic circle firm to release its autumn trainee retention rate (78%), following reports from A&O Shearman, Clifford Chance, Freshfields Bruckhaus Deringer LLP and Slaughter and May in previous weeks.

Trainee development partner at Linklaters, Chris Stevenson, praised the firm’s new lawyers, stating: “This is an exceptionally talented group of junior lawyers who have already demonstrated dedication, resilience and remarkable skill. They have limitless opportunities to grow and excel across our global platform, supported by industry-leading training and a culture that nurtures high-performance and teamwork.”

According to reports, Freshfields retained 86% of its trainees, while Slaughter and May and Clifford Chance retained 84% and 75%, respectively. However, while Freshfields’ retention rate remained level across its two cohorts, Slaughter and May’s percentage fell slightly from its 95% spring rate.

A&O Shearman retained 66% of trainees, a lower rate compared to figures seen by the firm prior to its merger. The drop can be attributed to the firm’s combined trainee intakes, which created a larger than average qualifying cohort.

These announcements follow recent pay rises at several firms. Last week, White & Case announced a £25,000 pay rise for its  newly qualified (NQ) lawyers in London to £175,000. Linklater’s NQ pay also recently increased to £150,000.