One associate-to-be is on a fixed-term contract
Sidley Austin has become the first major law firm to reveal its autumn 2020 retention score.
The US outfit confirmed that all 11 trainee solicitors based in its London office have opted to stick around post-qualification. With one associate-to-be on a six-month fixed-term contract, this hands Sidley a score of 100% or 91%, depending on how you interpret its figures.
The firm’s M&A and private equity team will receive four rookies, two will join banking and financial services, while the remaining five will be split equally between competition; global finance: investment funds; insurance; and restructuring. All will be based in London.
Retention rates aside, our Firms Most List shows that Sidley’s new City recruits will start on a hefty salary of £135,500. Trainees receive £50,000 in year one, rising to £55,000 in year two.
“Our 2020 qualifiers are a strong group and the second cohort of trainees to qualify with us following the overhaul of the trainee recruitment process a few years ago,” a firm spokesperson said. “The main changes we made were to expand our vacation schemes (we now run five each year) and to try and recruit all (or almost all) our trainees from our vacation schemes.”