City’s top TC provider posts spring score of 80%
The London office of magic circle player Linklaters has confirmed a spring 2019 retention result of 80%. From a March qualifying cohort of 51, the 30-office-firm confirmed that 41 had put pen to paper on permanent deals.
Those opting to stick around will start on a recently improved newly qualified (NQ) base rate salary of £83,000, while trainee pay currently sits at £47,000 in year one, rising to £52,500 in year two. The firm, which offers roughly 100 training contracts each year, more than any other City outfit, says remuneration for NQs can reach as much as £90,000 with performance-related bonuses.
Commenting on today’s result, Linklaters’ trainee solicitor partner, Richard Hodgson, said:
“We are pleased to once again retain a high number of quality lawyers from our March qualifiers. I look forward to seeing their careers progress as they embark on their roles as associates in a best in class and globally minded firm.”
Historically, Linklaters is a solid retention performer, especially given the size of its annual rookie intake. In recent rounds the Silk Street outfit has posted scores of 73% (43 out of 59), 84% (43 out of 51), 84% (47 out of 56) and 86% (44 out of 51).
But how does today’s 80% result stack up against its magic circle rivals’? Clifford Chance revealed an impressive spring score of 90% (46 out of 51) earlier this month, while Allen & Overy and Slaughter and May confirmed results of 83% (39 out of 47) and 97% (34 out of 35), respectively. Freshfields is the only remaining member of the elite fivesome yet to reveal its spring 2019 score.
Turning to life at Linklaters, it scored A*s for training, peer support, perks and canteen, in our Trainee and Junior Lawyer Survey, as well as As for quality of work, tech, office and social life. Its impressive performance sees it shortlisted in no less than six categories at the Legal Cheek Awards, held later this month at London’s iconic Cheesegrater building.