Norton Rose Fulbright becomes latest firm to unveil retention rate in the 60s

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Firm keeps 16 of its 26 NQs, with two more on fixed term contracts

International heavyweight Norton Rose Fulbright has kept 18 of its 26 newly qualified lawyers (NQs). With two of those on fixed term contracts, this amounts to an autumn retention score of 62%.

The firm has revealed it made 18 offers to nine male and nine female final seat trainees; all accepted. NQs at the 59-office firm will enjoy a recently enhanced salary of £75,000, Norton Rose Fulbright having in July announced pay increases of £3,000. Trainee remuneration got a boost too, from £42,000 for first years to £44,000, and from £47,000 for second years to £48,000. Profit per equity partner (PEP) at the firm — whose plush London office is located just across from Tower Bridge — is £440,000.

This latest retention rate is quite the drop on its previous scores. In spring 2017, the global giant unveiled a solid 83% figure, while this time last year it was 85%.

It makes the City firm one of nine to reveal an autumn retention figure in the 60s. Berwin Leighton Paisner (67%), Browne Jacobson (67%), DWF (66%), Freshfields (66%), Squire Patton Boggs (65%), Dentons (64%), Mishcon de Reya (64%) and Taylor Wessing (62%) have all posted similar scores.

Trainee autumn retention 2017

Burges Salmon100%28/28
Watson Farley & Williams100%15/15
Blake Morgan100%9/9
Cleary Gottlieb Steen & Hamilton100%9/9
Sullivan & Cromwell100%4/4
Latham & Watkins95%21/22
Macfarlanes92%23/25 (two on FTC*)
Slaughter and May91%29/32
Travers Smith90%18/20
Ince & Co90%9/10
Stephenson Harwood90%9/10
Blake Morgan89%8/9
Reed Smith86%12/14
Allen & Overy85%40/47
Gowling WLG84%21/25
Bird & Bird83%15/18
White & Case83%15/18
Covington & Burling83%5/6
Osborne Clarke82%14/17
Clifford Chance81%42/52
Addleshaw Goddard81%38/47
Bond Dickinson81%22/27
Eversheds Sutherland80%44/55
Herbert Smith Freehills80%28/35
Hogan Lovells80%24/30
Clyde & Co79%34/43 (one on FTC)
Mills & Reeve79%15/19 (one on FTC)
DLA Piper78%75/96
Simmons & Simmons78%21/27
Shearman & Sterling75%12/16
Pinsent Masons74%67/91
Mayer Brown73%8/11
Charles Russell Speechlys71%17/24
Trowers & Hamlins70%7/10
Berwin Leighton Paisner67%16/24
Browne Jacobson67%6/9
Squire Patton Boggs65%Not disclosed
Mishcon de Reya64%9/14
Norton Rose Fulbright62%16/26 (two on FTC)
Taylor Wessing62%16/26
Kirkland & Ellis56%5/9
Weil Gotshal50%5/10
Stewarts Law25%1/4

*Fixed term contract

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