News

Slaughter and May reveals 93% autumn trainee retention score

By on
15

38 out of 41

Slaughter and May’s London office

Slaughter and May has become the fourth magic circle firm to reveal its autumn 2020 trainee retention score.

From a September qualifying cohort of 41, Slaughters made 38 permanent offers — all of which were accepted. A firm spokesperson said: “This strong showing bodes well for the long-term future of the firm.”

Its newly qualified (NQ) lawyers will start on a salary of £87,000 after the firm opted to reduce pay in May to negate the financial impact of COVID-19. Pre cut, Legal Cheek‘s Firms Most List showed NQ base rates sat at roughly £92,000, with performance bonuses bumping earnings to in excess of £100,000.

Secure your place: The UK Virtual Law Fair Series 2020

Last month fellow magic circle players Clifford Chance and Allen & Overy posted results of 78% (36 out of 46, plus two on fixed-term deals) and 93% (38 out of 41) respectively. Freshfields, meanwhile, chalked up a score of 84% (32 out of 38) but declined to say whether any of its new associates were on fixed-term deals. Linklaters is yet to reveal its autumn figures.

For all the latest commercial awareness info, and advance notification of Legal Cheek's careers events:

Sign up to the Legal Cheek Hub

15 Comments

Troll

Top of the silver circle!

(98)(20)

Forever Associate

What LC and RoF need to do is review the NQ cohorts once they hit 2 PQE, and see how many are still at the firms. They probably all have that 2 year restrictive covenant re GDL/LPC fees but once that’s up how many remain loyal to the machine?

(7)(24)

Bs

That’s utter rubbish… you can quit whenever as an associate with no obligation to repay anything.

(23)(0)

MC Trainee

There’s no restrictive covenant in my contract, this isn’t a thing.

(21)(0)

Kev

Would SPB be a better long-term option?

(2)(1)

Anonymous

As far as I am aware DWF is the only firm that has a 2 year LPC/GDL fee repayment obligation post-qualification…

(20)(0)

Slaughters Trainee

An elite firm doing some of the biggest, fattest and juiciest deals in the city once again proving its muster. As far away from a high street firm as you can get.

(18)(28)

Jonathan

God bless the PDR

(12)(0)

Slaughters Trainee

Yes – a clear vindication of the Partner’s Dining Room strategy. When you have 100+ of the world’s finest legal minds all dining in one space, it’s inevitable that sparks will fly. It’s official: Slaughters has outgrown the Magic Circle. The firm is in a league of its own.

(19)(18)

Anon

Finest legal minds? A bunch of people who put together boilerplate deals or delegate work to counsel and take notes in court.

If they had any talent or intellect, they would be barristers.

(54)(5)

Anon

Hard luck missing out on pupillage this year, I’m sure self-funding the BPTC next year will work out just fine!

CMS

Why thank you. I don’t know about the juiciest deals but we’re certainly elite.

(18)(2)

Cravath

Uh-uh uh-uh. Cool story bro.

(4)(0)

Jonathan

Impressive, but hardly surprising. And you can bet that the two that are not staying on will have gone in-house. Slaughters alumni make up more GCs than any other firm in FTSE 100 companies.

There have been some fantastic deals recently which you can read about on the firm’s recently revamped website. It really is onwards and upwards!

(9)(21)

Is there a reason for me to care?

Can someone explain the obsession with comparing these statistics?

(3)(0)

Comments are closed.

Related Stories