34 out of 37 trainees kept on
Allen & Overy (A&O) has become the first law firm to reveal its spring 2021 trainee retention result.
Of the 37 trainees due to qualify in March this year, 36 applied for permanent newly qualified (NQ) solicitor positions at the firm. A&O made 34 offers, all of which were accepted, handing the magic circle firm a spring score of 92%. A spokesperson confirmed that none of the new associates will be on fixed-term contracts.
A&O, which offers about 85 training contracts each year, did not disclose the departments its new recruits will qualify into.
Today’s score is in line with the firm’s autumn 2020 result of 93% when the firm kept on 38 of 41 qualifying rookies. A&O retained 81%, or 30 out of 37 trainees, in the last spring round.
NQs can expect to earn £95,000, comprised of salary and sign-on bonus, after the firm increased salaries last year following a 10% COVID cut. This sizeable sum still falls short of the pre-COVID £100k package previously awarded by the firm.
James Partridge, graduate recruitment partner at A&O, said:
“I’m really pleased we’re seeing such a high retention rate, which speaks not only to the calibre of the upcoming talent at the firm but also our continued commitment to investing in our future lawyers during the pandemic. I’d like to congratulate all those qualifying in March after what has been an extraordinary year and I look forward to seeing their careers continue to flourish.”
The rest of the elite fivesome, Clifford Chance, Freshfields, Linklaters and Slaughter and May, are expected to follow with their own spring trainee retention announcements in the coming weeks and months.