As Shoosmiths and DAC Beachcroft reveal respective 57% and 77% scores
The London office of US law firm Jones Day has finally confirmed its 2017 autumn retention figure. It’s 76%.
Of the 21 final seat trainees who qualified last month, 16 have opted to stay on as newly qualified (NQ) associates. The Ohio-headquartered outfit, which offers around 20 UK training contacts annually in the UK, confirmed that it made 18 offers, with two rookies declining.
Legal Cheek’s Firms Most List 2017-18 shows that Jones Day’s NQs will start on a impressive £100,000. This puts them £5,000 better off than their opposite numbers at fellow US player Dechert, and just £1,500 behind those finding their associate feet at the London office of New York stalwart Sullivan & Cromwell. Trainees at Jones Day currently earn £47,000, rising to £54,000 in year two.
The firm — which has a number of lawyers currently serving in President Donald Trump’s White House administration — scored well in our Trainee and Junior Lawyer Survey 2017-18. It bagged an A* for perks and a host of As for, among other things, training, quality of work and social life.
Meanwhile, national player Shoosmiths has posted a disappointing 57% result. The firm — which offers roughly 22 training positions each year — has retained just 12 of its 21 autumn NQs.
A spokesperson revealed to Legal Cheek that the firm actually had space for 23 new associates but was unable to match NQs with their preferred departments or offices. Shoosmiths trainees earn £26,000 in year one, rising to £27,000 in year two. Upon qualification, a newbie associate will earn a salary of £40,000.
Shoosmiths did OK in our Trainee and Junior Lawyer Survey 2017-18. It scored As for training, quality of work, peer support and work/life balance, but got a B for partner approachability and C for social life.
Elsewhere, international outfit DAC Beachcroft confirmed it had retained ten of its 13 autumn NQs. Giving it a respectable score of 77%, the firm confirmed that four trainees would be based in London, three in Bristol, two in Leeds and one in Manchester. The new recruits will be spread across a number of the firm’s key practice areas including corporate, clinical risk and real estate.
DAC Beachcroft — which chalked up As for partner approachability, quality of work and work/life balance in our recent survey, with Bs for training and peer support — offers around 13 training contracts each year. Salaries for NQs in the regions range from £37,000 to £40,000 depending on location, while those in London start lawyer life on £60,000.
Trainee autumn retention 2017
|Watson Farley & Williams||100%||15/15|
|Cleary Gottlieb Steen & Hamilton||100%||9/9|
|Sullivan & Cromwell||100%||4/4|
|Latham & Watkins||95%||21/22|
|Macfarlanes||92%||23/25 (two on FTC*)|
|Slaughter and May||91%||29/32|
|Ince & Co||90%||9/10|
|Allen & Overy||85%||40/47|
|Bird & Bird||83%||15/18|
|White & Case||83%||15/18|
|Covington & Burling||83%||5/6|
|Herbert Smith Freehills||80%||28/35|
|Clyde & Co||79%||34/43 (one on FTC)|
|Mills & Reeve||79%||15/19 (one on FTC)|
|Simmons & Simmons||78%||21/27|
|Shearman & Sterling||75%||12/16|
|Charles Russell Speechlys||71%||17/24|
|Trowers & Hamlins||70%||7/10|
|Berwin Leighton Paisner||67%||16/24|
|Squire Patton Boggs||65%||Not disclosed|
|Mishcon de Reya||64%||9/14|
|Norton Rose Fulbright||62%||16/26 (two on FTC)|
|Kirkland & Ellis||56%||5/9|
*Fixed term contract