Latham & Watkins, Dentons and Taylor Wessing reveal mixed retention fortunes
Some good, some not so good
A trio of international law firms have confirmed their latest retention results.
First up, Latham & Watkins. The London office of the Los Angeles-founded outfit has revealed 21 of its 22 trainees due to qualify this September have opted to stick around, equating to a stellar 95% result.
Latham is one of several firms that chooses not reveal the departmental destinations of its news recruits, however Legal Cheek understands there is a mix across corporate, finance, and litigation.
Commenting on its autumn rate, Kem Ihenacho, Latham’s training principle, said:
We are proud to have developed a programme combining meaningful responsibility with plenty of bespoke training and support. It is an environment in which this latest group of outstanding trainees has thrived, and we congratulate them on their achievements.
The firm, which pays its fresh-faced associates a hefty £124,000 a year, racked up As for quality of work, peer support, partner approachability and international secondment opportunities in our Trainee and Junior Lawyer Survey.
Elsewhere, global colossus Dentons has chalked up a lacklustre 68% rate. It confirmed that 14 out of its 21 London rookies had decided to stay put, and five out of seven across its Milton Keynes and Watford outposts. London newly qualified associates (NQs) will start on £65,000, while their outside of the City peers will pocket £44,000.
Dentons, which offers around 30 training contracts annually and is the largest law firm in world by lawyer headcount, recently confirmed a tie-up with Scottish outfit Maclay Murray & Spens.
Finally, Taylor Wessing. The top-rated technology practice has posted a disappointing autumn retention score of just 62%. Of its 26 NQs, 16 will be staying on as associates. Legal Cheek’s Most List shows that the new recruits will enjoy a trainee to associate salary uplift of £21,000 (48%), as they’ll now be taking home £65,000 a year.
The NQs will join departments including: disputes, patents, construction, and tax. Kirstie McGuigan, head of the UK graduate recruitment committee at Taylor Wessing, said:
Our commitment to developing top quality lawyers remains a priority. We want to work with the best talent; the best legal minds and the best business instinct. It’s disappointing our retention rate is down on last year, but that’s a product of a number of factors and doesn’t paint the full picture.
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