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Linklaters keeps 47 of its 56 trainees upon qualification

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Magic circle retains 84% of rookies as newly qualified solicitors

Global titan Linklaters has posted a solid retention score of 84%.

Of the 56 final seat trainees due to qualify this September, 47 will be staying on as newly-qualified (NQ) associates. Linklaters — which is largest training contract provider in the City, with 110 positions annually — confirmed it had made 53 offers, with all but six accepting.

According to Legal Cheek’s Most List, the firm’s rookie associates will start on a very respectable £78,500 a year. A bonus scheme can take top performers up to £90k. Year one trainee salaries currently sit at £43,000, rising to £49,000 in year two.

Traditionally, Linklaters is a strong retention performer. In the last three retention rounds it’s notched up results of 86% (44 out of 51), 91% (51 out of 56) and 83% (45 out of 54).

The Barbican-based outfit’s latest set of financials show that profit per equity partner (PEP) had risen to £1.57 million, up from £1.45 million, while revenues hit £1.43 billion — an uplift of almost 10%.

Elsewhere in the magic circle, Allen & Overy confirmed last week that 40 out of 47 September qualifiers had opted to stick around, equating to a solid retention score of 85%. Meanwhile, Slaughter and May kept hold of 29 out of 32 NQs, giving it a score of 91%. Finally, Freshfields — confirming Legal Cheek predictions — posted an uncharacteristically low 66% (27 out of 41). Clifford Chance is the only magic circler still to reveal its autumn 2017 score.

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35 Comments

Anonymous

47 out of 56, now that’s a trainee intake. Commendable to retain so many from such a large intake.

(11)(0)

Anonymous

53/56 offered as well.

(9)(0)

Anonymous

Don’t believe the hype – not one NQ will earn 90k.

(11)(0)

Anonymous

So?

(5)(1)

Anonymous

Magic circle to 100k by 2020? What do we think? Don’t think 78,500 will attract the best for long when even mid-tier shops like Sidley are paying 120k

(5)(10)

Anonymous

“mid-tier shops like Sidley”

Take a look at this joker. You don’t know much about US law firms, do you? Sidley could buy a sweatshop like Linklaters out five times over you dumb fuck. 😂😂😂

(9)(41)

Anonymous

My law firm’s proverbial wanger is bigger than your law firm’s proverbial wanger.
*beats chest*

(35)(0)

Nonsense

Sorry, could you explain how Sidley Austin could buy Links five times over? Their revenues aren’t too different at all – do you know something about Sidley’s capital reserves or financing facilities in place which would allow it to do what you said?

(17)(2)

citylawyer

There are around 10 US firms that are at a similar level of prestige and get a similar quality of work to the MC, they are: Skadden, Sullivan and Cromwell, Davis Polk, Weil, Cleary, Wachtell, Cravath, Simpson Thacher, Latham and Kirkland. Sidley is certainly not on that list.

http://adamsmithesq.com/2014/08/the-elite-face-off-ny-vs-london/

(21)(5)

Anonymous

White and case? Definitely in the U.K. anyway

(3)(17)

Anonymous

oh piss off with your bullshit. there’s no “list”, we see sidley on the other side all the time. some of those like cravath and wachtell don’t have (real) offices in london anyway. there are dozens of us firms which are good to work for.

you’re clearly not a lawyer either else you’d know it always depends on the practice area.

(4)(16)

Anonymous

“clearly not a lawyer” – resorting to personal attacks. clap clap clap

(3)(1)

Anonymous

Sidley is a crap firm, headquartered in Illinois, it’s nowhere near the likes of Linklaters. Jog on.

(20)(2)

Anonymous

Who let the retard out? Headquartered in Chicago, only one of the largest economic areas in the world. Get the fuck outta here you dumb fuck. 😂😂😂

(2)(14)

dubious

Chicago is in Illinois. It’s not a NY firm ……and not even the best or second best firm in Chicago – I’m looking at you Kirkland and Bakers. It’s crap and the fact that you look down on Linklaters is pretty hilarious.

(12)(1)

Anonymous

go home mate and suck your own dick

(2)(4)

Anonymous

I’ll have to get off your mum first.

Wankington Bear

I do that, and can highly recommend it. Good enough for Steve Bannon, good enough for me I say.

Diane Abbott MP

It just doesn’t add up.

(30)(2)

Anonymous

78k… how much more per month after tax than someone on 68-70k? A few hundred a month? Won’t help you much in London.

(8)(6)

Nonsense

You’re an idiot.

(11)(4)

Anonymous

Personally I’d enjoy an additional £483.33 per month for doing the same work. £5800 a year could pay for one hell of a holiday.

(10)(3)

Anonymous

Genuine question – how is Linklaters sustaining these huge trainee intakes, even as other magic circle firms reduce the (already smaller) sizes of theirs?

(6)(0)

Anonymous

By not upping salaries to the level of us shops

(5)(1)

Anonymous

But the other MC firms don’t pay US level salaries either

(4)(0)

Anon

Low profit margins.

(1)(2)

Anonymous

putting the magic back in the circle

(7)(0)

Anonymous

Another genuine question – certain firms are paying £67-£72k but might not even be considered ‘silver circle’ yet Linklaters pays £78k. I assume you’d be working twice as hard at the latter, so what’s the draw other than prestige?

(8)(0)

Anonymous

Literally just prestige… people are a bit obsessed with it, especially LC commenters 😂

(15)(0)

Anonymous

Prestige made me happy

(2)(1)

Anonymous

Prestige is everything – I like having big loads of prestige dumped all over me

(10)(0)

JD Partner

You’d do well at our shop.

(8)(0)

Anonymous

Linklaters v Freshfields – go

(2)(1)

SHOOSMITHS PR GIMP

Whaddabout Shoosmiths?

(5)(0)

Anonymous

Freshfields is a dogshit firm

(2)(1)

Comments are closed.