Shearman boasts 91.5 per cent retention rate

Shearman & Sterling has offered newly qualified (NQ) jobs to all but one of the trainees who are due to qualify into the US firm’s London office in September.

The firm has offered NQ roles to 11 out the 12 Autumn 2011 qualifiers giving it a retention rate of 91.5 per cent for a second year running.

Shearman’s London managing partner Nigel Buckworth said: “Having young lawyers train with us and develop their careers with us is an important way of maintaining and consolidating the firm’s culture. We value their contribution to the firm’s growth and future success.”

Marcus Franks HR director added: “We’re very committed to our strategy of internal growth and are pleased with this year’s outcome.”

The firm now has a short wait until its next batch of 13 trainees join the firm in September with a starting salary of £39,000.

The news comes as fellow US firm Kirkland & Ellis announced plans to double its trainee intake after offering jobs to all of its NQs (read more).