One on fixed-term deal
Herbert Smith Freehills (HSF) has recorded an autumn retention price of 69%, maintaining 22 out of 32 qualifying trainees.
The silver circle agency stated it obtained 29 functions and made 22 affords all of which have been accepted. They’re being retained on everlasting offers, aside from one rookie who’s on a fixed-term contract in Moscow.
New associates can anticipate to earn as much as £105,000 (inclusive of bonus) upon qualification after the agency took the decision in June to not lower NQ pay regardless of the unsure monetary local weather led to by COVID-19. Authorized Cheek estimates that HSF’s base price sits at round £93,000.
“In mild of the unprecedented uncertainty brought on by COVID-19, we’ve got provided fewer NQ positions this September than regular,” a agency spokesperson stated. “This has been a really tough determination made in very particular circumstances. Retaining our trainee expertise stays a key precedence for the agency.”
Earlier this 12 months the agency chalked up a spring rating of 84%, maintaining 27 out of 32 trainees. Within the final autumn spherical it retained 71%, holding on to 27 out of 38 new qualifiers.
At the moment’s information signifies that three out of 5 of the silver circle have up to now launched their retention scores. Macfarlanes introduced this week that it’s going to maintain 22 out of 25, or 88%, of its final-seat trainees, whereas Travers Smith stated in June it should retain 17 out of 19, or 89%, of qualifying trainees. Ashurst and Bryan Cave Leighton Paisner are but to disclose their outcomes.
In different HSF-related information, the agency took the choice in June to delay the start dates of its incoming trainees by six months in response to the pandemic, and in change for £8,000.