London firm confirms eight out of nine qualifying trainees will stay
Nabarro has put a disappointing autumn retention result behind it to reveal an encouraging spring figure of 89%.
The international outfit, which is best known for its property law work, confirmed that eight of its nine soon-to-be newly qualified (NQ) lawyers had committed their futures to the firm, with only one trainee deciding to head for the exit upon qualification this March.
The London Wall-based practice — that offers around 25 training positions annually — will be glad to see the back of its autumn 2015 figure, when only 77% of its junior lawyer talent opted to stay.
Despite the firm revealing earlier this summer that revenues had rocketed by 21%, pay boosts for its fresh-faced associates have remained modest.
With an extra £2,000 being chucked their way as of last summer, those starting life as a lawyer at Nabarro’s London office will take home £61,000, while their regional-counterparts will be on a remuneration package of around £38,000.
Nabarro — which has UK outposts in Sheffield and Manchester, as well as international offices in Brussels, Dubai and Singapore — posted a perfect retention score of 100% this time last year.
Yesterday the firm revealed that three NQs would be heading to the firm’s real estate department. Funds and indirect real estate would receive three new lawyers; meanwhile, corporate, banking & finance and intellectual property would gain a new associate each.
Nabarro’s graduate recruitment manager Mel Brooking said:
We work hard to give our trainees a positive experience of Nabarro across six seats, so it is always a pleasure to see a high proportion choosing to qualify with the firm. I would like to wish them all well as they start the New Year in their chosen practice areas.
Recording its highest rate since 2014, the ultra-elite outfit confirmed 38 out of 40 of its trainees due to complete their training contract in March had accepted permanent job offers.