Simmons & Simmons has revealed a retention rate of 71 per cent, a significant drop from last autumn’s rate of 89 per cent.
Of a cohort of 24, a total of 17 trainees were offered newly-qualified (NQ) roles with the firm and all accepted this offer. One of the NQs will work in the firm’s Amsterdam office while the other 16 will be based in London.
Last autumn, Simmons & Simmons took on 34 of 38 trainees after offering 35 jobs, giving it a retention rate of 89 per cent (10 September 2012). In spring this year it took on nine of 11 trainees in newly-qualified roles, translating to a retention rate of 81 per cent (4 March 2013). In spring 2012 it took on just 25 per cent of its cohort, giving two of eight qualifiers NQ jobs (17 February 2012).
CMS Cameron McKenna has also announced its retention rate. The top ten firm is giving 28 of 34 qualifying trainees NQ jobs, translating to a rate of 82 per cent. Of the 28 trainees staying with the firm, 23 will join the London office. Two will join the insolvency and recovery group in Bristol; one will work across real estate and finance in Edinburgh and another will be employed in the Edinburgh disputes department. One more will work in the employment team in Aberdeen.
Of the 23 NQs employed in London, six will work in the banking department and three apiece will go to the corporate and energy groups. Capital markets, insurance and IT/IP have all found space for two NQs, while the remaining five are qualifying into disputes and construction, financial services, international private equity, pensions and real estate.
Last autumn CMS took on 84 per cent of its cohort, retaining 26 of 31 qualifiers in NQ roles (23 July 2012), while this spring, it gave 19 of 28 NQ jobs, translating to a retention rate of 68 per cent (17 January 2013).