Slaughter and May reveals solid 91% autumn retention score

29 out of 32 rookies commit their future to the elite magic circle firm

Slaughter and May has announced 91% of its September qualifiers will be staying on at the firm.

The elite magic circle outfit, which offers around 80 London training contracts annually, has confirmed today that 32 associates-to-be had applied for full-time positions, with 29 staying on. This equates to a solid autumn retention figure of 91%.

Legal Cheek’s Most List shows that those opting to stick around will see their pay packets swell from £48,000 (second year trainee salary) to £78,000 (newly qualified (NQ) salary), an increase of £30,000 or 63%. It’s worth noting the firm rolled out a series of pay freezes across its London office earlier this summer.

The Bunhill Row bunch has remained tightlipped about which departments its newbies will begin their NQ life, but Legal Cheek understands there is a good spread across the firm’s key specialisms.

Commenting on today’s result, a spokesperson for the firm said:

Our overall retention rate was again in line with previous years. We remain encouraged by our consistently high retention rates and are confident that all these talented lawyers will make a strong contribution to the firm.

Slaughter and May is traditionally a strong retention performer, regularly posting results of around 90%. In the past 12 months, the magic circle outfit has racked up rates of 100% (25 out of 25) and 89% (32 out of 36).

So what’s lawyer life like at one of the City’s top players? In Legal Cheek’s 2016 Trainee & Junior Lawyer Survey, Slaughter and May scored an A for its training and Bs for, among other things, quality of work, peer support and perks. The firm — which has just four offices across the globe — scored Cs for partner approachability and social life.

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22 Comments

Anonymous

Not just US firms, the SC is overtaking the bottom end of the MC now in both trainee and NQ pay.

(5)(0)
Adam Deen

They’ll never pay more than elite MC firms like DLA, Eversheds and Irwin Mitchell, you mark my words.

(5)(5)
Jones Day Associate

Thick Cock.

Like us lads at Jones Day, huuuuuuuuge!!!

(1)(1)
Anonymous

But…but…I work for an elite magic circle firm! Tommy from LC said so!!!

(5)(0)
Not self-entitled

Not saying I cant see the humor in the joke, but its quite douche-like to make puns about poverty when you’re earning 78k . They’ll always be people earning more and people earning less, people working harder people working less; be happy you’re working (I assume hard) in a, frankly, overpaid job.

(8)(9)
Anonymous

I would say your statement, “Not saying I can’t see the humour in the joke” is false.

(18)(1)
Anonymous

Because in order to be serious one must also not have a sense of humor. Noted.

(2)(1)
Doc. Ludvig Friedrich Von Lowenstein

Is there every day now, to be an anal retention article?

(4)(0)
Anonymous

And how many of these people have been “retained” on FTC’s?

(7)(2)
Anonymous

Aren’t I right in thinking that Slaughters doesn’t factor in bonus to their pay figures, whereas other MC firms do?

(8)(0)

Comments are closed.