Slaughter and May posts 100 per cent retention rate

Slaughter and May has revealed a retention rate of 100 per cent for its March 2017 qualifiers.

All 25 trainees that were eligible to qualify next year have received offers from the City firm.

This time last year, Slaughters announced a retention rate of 95 per cent for its March 2016 qualifiers. A total of 40 trainees were eligible to qualify and 38 accepted offers made by the firm.

In the autumn, the firm retained 89 per cent of its autumn 2016 qualifiers.

Following a year-long review into employee benefits, Slaughters last week revealed it would introduce sabbaticals and flexible working options for its associates.

The firm has also boosted associate salaries by around eight to 10 per cent.

Newly-qualified lawyers will receive £78,000 instead of £71,500, while associates with one year PQE will pick up £87,000 instead of £79,000. The salary for lawyers with three years PQE has broken the £100,000 mark for the first time.

Trainee rates have not been changed, with the firm’s annual salary review expected to take place as usual next May.