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Freshfields posts 83% newly qualified lawyer retention rate

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Anglo-German magic circle giant makes 43 offers — and is snubbed by three new lawyers

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Global City law firm Freshields Bruckhaus Deringer announced at the end of last week that 40 of a 48-strong trainee cohort will remain at the firm after they qualify as solicitors next month, equating to a retention rate of 83%.

The magic circle player revealed that it made offers to 43 of its trainee lawyers, with three daring to reject the elite outfit.

The 83% figure is a marginal drop on its spring performance, when the firm retained 85% of its trainee intake.

Freshfields is only the second magic circle firm to announce an autumn retention figure, with Slaughter and May revealing last month that it was retaining 89% of its young legal talent.

The new Freshfield lawyers shouldn’t expect a bumper pay packet post-qualification. Earlier this year the firm announced that NQ salaries would remain unchanged at £67,500 leaving junior lawyers at the firm languishing at the bottom of the magic circle pay table.

Previously:

The Judge Rules: Anything less than a 100% qualifying lawyer retention is a law firm fail [Legal Cheek]