All six Macfarlanes qualifiers have committed their future to the “silver circle” outfit
Macfarlanes has revealed a perfect spring retention score of 100%, retaining all six of the trainees who are due to qualify with the firm next month.
The single-office City outfit, which offers 30 training contracts annually, is known for its strong corporate practice and a well-regarded private client team.
The newly-qualifieds (NQs) will start on a salary of £70,000, though it’s not known which teams these fresh-faced associates will be working in. Today’s news marks a vast improvement on the silver circle firm’s Autumn 2015 retention figure of 74%, when only 14 of its 19 NQs stayed with the firm.
Macfarlanes’ graduate recruitment partner, Seán Lavin, said:
We recruit and train each generation of our trainees in the hope and expectation that all of them will qualify with the firm and have long careers here. As such we are of course very pleased to have achieved 100% retention this March.
Yesterday, fellow City firm Osborne Clarke trumpeted their perfect retention score.
Keeping all seven of its March qualifiers, the outfit — which offers 20 training contracts annually — bounced back from a disappointing Autumn 2015 performance of just 67%.
Elite magic circle player Slaughter and May kept 38 out of 40 of its spring qualifiers, equating to a 95% result. US outfit Weil Gotshal & Manges announced a perfect UK retention result of 100% late last month. And Herbert Smith Freehills continued their solid retention run, revealing that 94% of its trainees had committed their future to the firm.