17 out of 19
Travers Smith has posted a solid autumn trainee retention score of 89%.
Of the 19 rookies due to qualify next month, 17 accepted newly qualified (NQ) solicitor roles at the London-headquartered outfit. Travers, which offers around 25 training contracts each year, confirmed none are on fixed-term deals.
The two-office-outfit’s dispute resolution team will receive five newly-qualified (NQ) lawyers, two join funds, and a further two will start lawyer life in corporate M&A and equity capital markets. The remaining eight will be split equally between commercial; employment; finance; pensions; real estate; private equity & financial sponsors; derivatives & structured products; and financial services & markets.
In terms of cash, Travers’ latest recruits will start on a salary of £85,000 — although NQs have the “potential” to earn between £93,500-£110,500 with bonus. Legal Cheek‘s Firms Most List shows trainees receive £46,500 in year one, rising to £52,000 in year two.
This time last year, Travers retained 17 of its 21 London qualifying trainees — or 81%.
Last week CMS posted an autumn result of 72%, keeping hold of 44 of its 61 trainees due to qualify in August. This followed scores of 100% (11 out of 11) and 89% (16 out of 18) by Sidley Austin and Mills & Reeve, although both figures include an NQ on a fixed-term deal.