34 out of 37 trainees saved on
Allen & Overy (A&O) has grow to be the primary legislation agency to disclose its spring 2021 trainee retention outcome.
Of the 37 trainees attributable to qualify in March this 12 months, 36 utilized for everlasting newly certified (NQ) solicitor positions on the agency. A&O made 34 presents, all of which have been accepted, handing the magic circle agency a spring rating of 92%. A spokesperson confirmed that not one of the new associates will likely be on fixed-term contracts.
A&O, which presents about 85 coaching contracts annually, didn’t disclose the departments its new recruits will qualify into.
Right now’s rating is in keeping with the agency’s autumn 2020 result of 93% when the agency saved on 38 of 41 qualifying rookies. A&O retained 81%, or 30 out of 37 trainees, within the final spring spherical.
NQs can count on to earn £95,000, comprised of wage and sign-on bonus, after the agency increased salaries last year following a 10% COVID cut. This sizeable sum nonetheless falls in need of the pre-COVID £100k package beforehand awarded by the agency.
James Partridge, graduate recruitment companion at A&O, mentioned:
“I’m actually happy we’re seeing such a excessive retention charge, which speaks not solely to the calibre of the upcoming expertise on the agency but in addition our continued dedication to investing in our future legal professionals in the course of the pandemic. I’d prefer to congratulate all these qualifying in March after what has been a rare 12 months and I stay up for seeing their careers proceed to flourish.”
The remainder of the elite fivesome, Clifford Chance, Freshfields, Linklaters and Slaughter and May, are anticipated to comply with with their very own spring trainee retention bulletins within the coming weeks and months.