Slaughter and May's 87% retention rate shows new confidence
19 February 2010
There were clear signs of renewed confidence amongst leading firms this week, as further details were released of trainee retention rates. Slaughter and May
now tops the RollOnFriday table, with a recession-busting 87% retention figure - with Nabarro
hot on its heels with an 86% result.
However not every firm shares the same business confidence. Denton Wilde Sapte
still languishes at the bottom of the table with a dismal 14% retention rate, while Reed Smith, Lovells, Irwin Mitchell and Stephenson Harwood all remain below 70%.
It seems confidence is strongest amongst the biggest firms - Freshfields
for example managed 80% and Herbert Smith
at first sight seem close behind at 79%. However, that figure alone ignores the fact that HS has just asked its new joiners to defer their start dates - and the firm is also happily sacking students
The RollOnFriday retention table currently stands as follows:
||No. of qualifying trainees
||No. being kept on
||Percentage being kept on
|Slaughter and May
Bear in mind that all of these firms would be offering jobs to 90% or more of their NQs in boom times. RollOnFriday analysts advise investors to buy Slaughters, hold Clifford Chance and sell DWS**.
Use the button below to send in your firm's rate.
*FFS, that's 14%. What are you playing at DWS?
** Law firm values may go up slowly as well as down very rapidly indeed. You may not recover the value of your initial investment, RollOnFriday analysts have no qualifications, track record or basic social skills. Your house may be at risk and so may your parents' house. Please don't play with matches and ask a grown up to help with the scissors. Careful now, thanks.