Taylor Wessing retention falls to lowest in almost a decade

Taylor Wessing has posted 62 per cent retention for September 2017, its lowest result in nine years.

With 26 trainees reaching qualification, it is the firm’s largest ever intake. Sixteen will remain with the firm as newly-qualified solicitors.

Two trainees each will qualify into the firm’s patents; IT, telecoms & competition; disputes; private client, private equity, private capital/corporate finance, and real estate, planning & environment practices.  A further one each will qualify into the construction and tax teams. 

Head of the UK graduate recruitment committee Kirstie McGuigan said: “Our commitment to developing top quality lawyers remains a priority. We want to work with the best talent; the best legal minds and the best business instinct. It’s disappointing our retention rate is down on last year, but that’s a product of a number of factors and doesn’t paint the full picture.

Rumours have been swirling for months that retention across the country will be poor this autumn, with fewer newly-qualified (NQ) roles are on offer than in past years.

This morning, Freshfields announced that it was to retain just 66 per cent of its intake this September. Overall, 28 firms have published their results so far, with 79 per cent of trainees retained at the firm that trained them – down on the 82 per cent average of the last few retention rounds.

Autumn 2016 retention so far Trainees retained Fixed term contract Trainees left Total number of qualifiers Percentage retained
Burges Salmon 28 0 0 28 100
Watson Farley & Williams 15 0 0 15 100
Walker Morris 14 0 0 14 100
Fieldfisher 13 0 0 13 100
Sullivan & Cromwell 4 0 0 4 100
Latham & Watkins 21 0 1 22 95
Ashurst 19 0 1 20 95
Slaughter and May 29 0 3 32 91
Stephenson Harwood 9 0 1 19 90
Blake Morgan 8 0 1 9 89
Reed Smith 12 0 2 14 86
Allen & Overy 40 0 7 47 85
Mills & Reeve 15 1 3 19 84
Bird & Bird 15 0 3 18 83
Osborne Clarke 14 0 3 17 82
RPC 14 0 3 17 82
Herbert Smith Freehills 28 0 7 35 80
Shearman & Sterling 12 0 4 16 75
Pinsent Masons 67 0 24 91 74
Mayer Brown 8 0 3 11 73
Withers 8 0 3 11 73
Royds Withy King 4 1 2 7 71
Trowers & Hamlins 7 0 3 10 70
Freshfields 27 0 14 41 66
Mishcon de Reya 9 0 5 14 64
Taylor Wessing 16 0 10 26 62
Kirkland & Ellis 5 0 4 10 55
Weil Gotshal & Manges 5 0 5 10 50