Slaughter and May, SNR Denton reveal NQ retention rates

Slaughter and May has revealed a 90 per cent newly qualified (NQ) retention rate for March 2012.

Jeremy Cape

Jeremy Cape

The top 10 firm has announced it is keeping 26 out of its 29 spring qualifying trainee solicitors.

This result is similar to previous qualification rounds, with the firm retaining 96 per cent of NQ lawyers in March 2011 and 100 per cent in September 2011.

Meanwhile, SNR Denton has posted a 60 per cent NQ retention rate for spring 2012, holding on to six out of 10 trainee solicitors after offering all 10 a position at the firm.

The retention rate is a slight boost from its summer 2011 qualification round where the firm revealed it was holding onto only 52 per cent of its trainees.

Trainee recruitment partner Jeremy Cape said: “We were pleased this year to offer places to all of our talented trainees who have demonstrated over the past few years that they will all become successful lawyers.

“As a result of the firm’s EMEA strategic review, we are focussing on building key practice areas including several teams in our banking and finance practice. As a result, not all places offered complemented the ambitions of qualifying trainees.”

All of the top 20 law firms have now revealed their spring 2012 retention rates, with Eversheds’ and SJ Berwin’s results sitting at the top end, keeping 100 per cent of their intakes (22 February 2012).

Simmons & Simmons had the lowest keeping only 25 per cent retention rate (17 February 2012).

Firm Trainees NQs Retention (%)
       
Eversheds 8 8 100
SJ Berwin 8 8 100
Travers Smith 4 4 100
Wragge & Co 6 6 100
White & Case 16 15 94
Ince & Co 15 14 93
Slaughter and May 29 26 90
Allen & Overy 57 51 89
BLP 17 15 88
Herbert Smith 40 35 88
Nabarro 15 13 87
Linklaters 57 49 86
Freshfields 48 41 85
Hogan Lovells 36 30 83
Stephenson Harwood 6 5 83
Baker & McKenzie 20 16 80
CMS Cameron 31 25 81
Ashurst 27 21 78
Norton Rose 23 18 78
Clifford Chance 51 39 76
Pinsent Masons 20 14 70
SNR Denton 10 6 60
Reed Smith 16 9 56
Macfarlanes 5 2 40
Simmons & Simmons 8 2 25