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More firms are announcing their NQ retention rates. Skadden and Howard Kennedy are top of the pile this week with 100%, with Mishcon de Reya taking the wooden spoon with just 50%.

Howard Kennedy is keeping on four out of four qualifiers and a spokesman said that the firm was "delighted" with that result. Skadden is also keeping on all seven of its London qualifiers. They'll see their pay rise to £94k p.a. as of next month (although at the cost of having constantly to look over their shoulders for irate Chelsea fans). Dickinson Dees gets a special mention too for posting an 87% retention rate, a huge improvement on last year's disastrous 36%.

There was worse news at SJ Berwin, where only 19 of the 34 qualifying trainees are staying with the firm: a far cry from March's 100%. A spokesman blamed the number of deferred trainees who were qualifying: "the September 2012 intake was one of the biggest we have had for a few years. We offered deferrals back in 2010 to ensure they had first class training. Our overall figures for the year, which are higher, are more indicative of our normal trainee intake."

But the biggest surprise perhaps came from Mishcon de Reya, the firm which announced "turbo-charged" financial results only a month ago. Only nine of the 18 trainees shortly to qualify will be retained, which is a pisspoor result for a firm that makes much noise about how it values its people, and which saw its turnover rise by 20% this year.

    Mishcon yesterday

The firm also blamed its deferrals. A spokeswoman said: "The 2010 intake was our biggest ever as a result of deferred training contracts. It was important to us to honour all our training contract offers despite the difficult economic climate. On average we take between 8-10 NQs a year; this year was particularly tough as many candidates applied for a select number of positions in one department. We are working with all of our trainees to assist them in their future careers, whether within law or in other fields, and wish them the best."

Firm
Number of trainees
Number retained
Retention rate
(retention rate March 2012)
 Burges Salmon
21 21 100% (86% Sept 2011)
Debevoise & Plimpton
6
6
100%
Farrers
10
10
100% (90% Sept 2011)
 Howard Kennedy
4
4
100%
Jones Day
11
11
100% (100%)
 Skadden 7
7
100%
Shearman & Sterling
8
7
87.5% (91.5% Sept 2011)
Slaughter and May
48 42 87.5% (90%)
 Dickinson Dees
15
13
87% (36% Sept 2011)
CMS Cameron McKenna
31
26
84% (81%)
Ashurst
29
24
83% (78%)
SNR Denton
29
24
83% (60%)
White & Case
16
13
81% (94%)
 RPC 15
12
80% (100% Sept 2011)
 Clifford Chance
62
48
77% (76%)
 Olswang 14
9
64% (54.5%)
 SJ Berwin
34
19
56% (100%)
 Orrick 6
3
50%
 Mishcon de Reya
18
9
50% (86% Sept 2011)
If you've got the low down on retention at your place, drop us a line at the usual place (anonymously of course).
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Comments

Anonymous 03 August 12 23:17

Linklaters results are interesting. Not so much the numbers, as the way some people found out who wasn't qualifying.