Magic circle firm Clifford Chance will keep 42 of its 56 qualifying trainees this September, meaning its retention is 75 per cent.
A total of 54 trainees applied from newly qualified (NQ) positions at Clifford Chance, meaning just two chose not to remain at the firm. There were 44 offers made to the soon-to-be qualified lawyers, meaning that 10 missed out on a job at the firm.
January retention for Clifford Chance slumped to 71 per cent from 78.2 per cent in Autumn 2023. Four of the cohort did not apply to jobs at the firm and eight weren’t offered a place.
Two months ago, Clifford Chance increased its NQ pay by £25,000. Newly qualified solicitors at the top tier firm will now make £150,000 per year.
The salary increase came under a fortnight after Linklaters and less than four weeks after Freshfields Bruckhaus Deringer.
Trainee salaries will also rise in line with Freshfields and Linklaters from 1 September. First year trainees are expected to receive £56,000, with second years on £61,000.
In April, The Lawyer revealed that Clifford Chance had been reported to have rescinded training contract offers from future trainees who failed SQE1 on their first attempt.
