A score of 79%
Global law firm Pinsent Masons has posted its latest retention score. Of the 72 trainees due to qualify this September, 57 have put pen to paper on permanent deals and will be taking up newly qualified (NQ) associate roles — or 79%.
Deborah McCormack, head of early talent, said: “At Pinsent Masons our newly qualified trainees will be empowered to think innovatively and champion change to ensure our business is operating at its best for both our clients and our people. I’m pleased to welcome them into an environment where they’ll have the opportunity to thrive.”
Legal Cheek‘s Firms Most List shows Pinsents’ newest recruits will start on a recently improved salary of £72,500, while their counterparts in the regions and Scotland will earn £44,000 and £43,500 respectively. The firm’s London trainees earn £41,000 in year one, rising to £44,000 in year two.
Last week Pinsents confirmed a 2.5% uplift in gross profit to £192 million but a 5% downturn in profit per equity partner (PEP) from £653,000 to £620,000. Global turnover hit £482 million for the year ending 30 April, which equates to a rise of 7%.
“The past year has been one of unprecedented change and complexity for our clients,” managing partner John Cleland said. “We’re continuing the transformation of our business from an expertise-based law firm into a modern, international professional services business with law at its core.”