London offices of Jones Day and Covington & Burling keep all qualifying trainees
Jones Day made 20 offers to the 20 final-seat trainees due to qualify next month all of which were accepted. It is not known whether they have been retained on permanent or fixed-term contracts.
The new associates can expect to earn £100,000 after Jones Day cut London NQ pay by £5,000 last month. That’s still a healthy 69% uplift on year two pay which stands at £59,000. First years at the firm earn £52,000.
Meanwhile, Covington & Burling will keep all eight of its autumn qualifying trainees. They are understood to all be on permanent deals. NQs at C&B earn £120,000, according to our Firms Most List.
A number of law firms have announced their autumn trainee retention results in the past two months.
So far fellow US firms Ropes & Gray and Sidley Austin are the only other City outfits to post pandemic-proof scores of 100%, though, admittedly, they do have much smaller cohorts. Ropes will retain all five of its soon-to-be associates, while Sidley will keep all 11 qualifying trainees. One Sidley NQ is being kept on a six-month fixed-term contract.