Upturn buoys retention rates
1 September 2014
By Catherine Baksi
Many firms are taking advantage of more benign economic conditions this year and keeping on more of their qualifying trainees.
This year’s trainee retention rates reflect a bullish outlook among major firms, according to a snap survey by the Gazette.
Reynolds Porter Chamberlain, Fieldfisher and US firm Weil, Gotshal & Manges are among those to have announced that they will keep 100% of trainees qualifying this autumn.
City-headquartered RPC said it will retain all 15 trainee solicitors who applied to qualify at the firm this year, making it the second time in four years the firm has achieved a 100% rate. Last year it retained 13 of its 16 trainees (81%).
Managing partner Jonathan Watmough said: ‘We invest a lot of time and money in our trainee programme, and set the bar for qualification very high. It’s always particularly pleasing, therefore, when we get such an outstanding group who make the grade, and doubly gratifying when we are able to offer them all positions.’
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