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CMS has announced its long-awaited retention rate, keeps 43 NQs

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25

66% for newly-merged firm

New firm CMS has unveiled its first retention rate since its three-way merger went live in May.

After months of speculation about its trainee and newly qualified lawyer (NQ) capacity, the international outfit has now confirmed 47 solicitors will be staying on. With four of these on fixed term contracts, we’ve calculated CMS’s retention score as 66%.

The firm, which says it has a total of 65 trainees in the intake, told us 34 new solicitors would be starting lawyer life in its London office. Four are Edinburgh-based, four more are in Sheffield and three will be practising in Glasgow. Of the two remaining lawyers, one is in Aberdeen and the other in Bristol. The newbie solicitors will be working in departments including real estate, human capital, corporate, and litigation & arbitration.

This is the first post-merger retention result the firm has shared, though in March it did reveal a combined pre-merger spring score of 76%. To break this down by firm, CMS Cameron McKenna chalked up a score of 64%, while Nabarro and Olswang did notably better with 100% and 88% respectively.

Speculation about the firm’s trainee and NQ capacity began in the weeks following its merger announcement. With firms usually recruiting at least two years in advance, a three-way tie-up means three firms’ intakes would coming together under one roof.

In a seeming attempt to combat this, we revealed in November that the firm was offering its future trainees a cash incentive to defer their training contract start dates by a year. Twenty-five future solicitors jumped at the chance of a £10,000 gap year, meaning CMS dished out a total of £250,000 in deferral payments.

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25 Comments

Anonymous

SHIT firm.

(15)(10)

Anonymous

Agreed. I’m leaving as an NQ to a top US shop, this firm is such SHYTE.

(6)(9)

Anonymous

This is BS. I work at a “top US shop” and occasionally deal with CMS (including their pre-merger components). I can’t speak for every lawyer there, but in my experience they are good at what they do and in many cases they have some excellent lawyers. Whatever your particular grievance, it smacks of immaturity to leave comments such as this on a website.

Granted, as an (ex) employee there, your first hand experience has some weighting and you may legitimately have things to moan about (but for the objective bystander the presumption is that you view is shaped by trivial matters from your trainee days such as seat/supervisor allocation not working in your favour and the quality of roast potatoes in the canteen).

It’s probably helpful that you are advised at this early stage of your career to be a little bit more professional when talking about your former firm. We certainly wouldn’t hire someone if they turned up at an interview complaining that their current/former firm was “SHYTE”. Observations such as yours tend to say more about the employee than the employer.

(35)(11)

Anonymous

Get a life you dork

(17)(18)

Anonymous

Hello CMS PR Team – I see you’re on it. Good, busy weekend ahead.

(13)(11)

Anonymous

Lol take a look at this weak beta. C U next Tuesday, gimp.

(3)(7)

Anonymous

So it’s 66% or 72% including those on fixed term contracts. Not the <50% some here were predicting.

(9)(1)

Anonymous

The night is still young.

(6)(1)

Anonymous

– 34 in London and 13 elsewhere (4 Edinburgh, 4 Sheffield, 3 Glasgow, 1 Aberdeen, 1 Bristol).
– 4 of the above are fixed term contract. It is likely that those are all in London, taking the London figure down to 30 proper jobs.
– There are no figures about what office the non-retained are attached to. From my knowledge of the firm (and former firms) it is likely that the 13 non-London jobs may even exceed the number of trainees that commenced their TC outside of London. On that basis we can deduce that all of the non-retained are London based.
– 65 total less the 13 non-London is 52.
– 30/52 = just below 58% (London).

58% is not as bad as I thought, well done CMS.

(4)(2)

Anonymous

People are fucking desperate.

(4)(1)

Anonymous

Okish retention rate. No reason to brag or Diss it.

(8)(1)

👀

The CMS PR team are in for a long evening monitoring this thread.

(19)(1)

Trews

You can’t polish a putrid turd. All you’ll get is your hands covered in shit.

(17)(2)

Anonymous

Top bantz, 7/7.

(4)(2)

Anonymous

Hey Patrick

(0)(1)

Patrick

Oh, uh, it’s – cranberry juice. Uh, cran-apple.

(1)(0)

Anonymous

Savage.

(1)(0)

Anonymous

Ron Burgundy is the king of CMS.

(1)(0)

Dong Bang Minerva

Dechert’s retention rate is 50%.

You heard it here first folks.

(3)(0)

In the know

Haha SUPER SHIT firm though.

(5)(2)

Anonymous

Top bantz.

(0)(0)

Asmodeus

“we’ve calculated”

(6)(0)

Anonymous

Word on the street is they forgot to register a trainee for the current intake… she only found out two days before starting…..

(3)(0)

Anonymous

Top CMS bantz.

(3)(0)

Anonymous

Efficient HR. Impressive.

(2)(0)

Comments are closed.