Freshfields Bruckhaus Deringer and Slaughter and May have released their retention results for the September cohort, achieving 86 per cent and 84 per cent respectively.
There are 37 trainees staying on in newly-qualified positions at Freshfields out of the 43-sized cohort. Slaughters is keeping one fewer trainee from the same sized batch of trainees, meaning 36 out of 43 will take on NQ roles in the autumn.
Yesterday, Clifford Chance posted its results, stating that three-quarters of its qualifying trainees, 42 out of 56, will take on NQ positions. Linklaters and A&O Shearman are yet to reveal their figures.
In January, it was reported that Freshfields retained 31 of 37 qualifiers (84 per cent). Meaning while, Slaughter and May boasted a retention rate of 94.6 per cent, meaning that just two of its 37 final-seat trainees didn’t keep places at the magic circle firm.
Freshfields upped its newly qualified (NQ) solicitor salaries to compete with the US market in May, increasing annual pay from £125,000 to £150,000.
First-year trainees now receive £6,000 more per year, rising from £50,000, and second-year trainee salaries have risen from £55,000 to £61,000.
Meanwhile, Slaughter and May decided to hold its pay at £125,000.
Training principal and partner at Freshfields Craig Montgomery said: “We are thrilled that many of our trainees are choosing to advance their careers at Freshfields. Our commitment to their development reflects our belief in fostering a strong, diverse workforce for the future and is a vital part of our strategy to cultivate a dynamic and forward-thinking global firm.”
