Scores of 93% and 79%
Of the 56 final-seat trainees due to qualify next month, 53 will staying on at IM. This equates to an impressive score of 93%. The four trainees heading for pastures new were unable to secure roles within their preferred team, according to the firm.
The 52 new recruits will work across IM’s new client services team covering business and personal clients.
Marissa Sanders, head of early careers at IM, said:
“Our latest retention rates represent an outstanding result, by our own very high standards and when compared with the industry average. I want to pay tribute to the quality of all our trainees this year, who have had to face the challenges posed by the pandemic while continuing to achieve outstanding results.”
She continued: “The supervisors have also had their work cut out to offer the same levels of support trainees need and deserve, while working under the restrictions resulting from lockdown.”
Meanwhile, Bird & Bird is retaining 15 of its 19 trainee solicitors due to qualify this autumn — or 79%.
The international outfit confirmed five join its commercial division, four qualify into IP and three start lawyer life in employment. Corporate, disputes and risk/compliance gain one associate each. All the new recruits are on permanent deals.
The Legal Cheek Firms Most List shows the firm dishes out around 18 training contracts each year, with rookies receiving a salary of £40,000 in year one. It doesn’t divulge year two pay for trainees, but does disclose a newly qualified rate of £71,000.
Earlier this year Bird & Bird joined a raft of City firms in dishing out appreciation bonuses to lawyers and staff. This, the firm said, was in recognition of their “hard work and extraordinary contributions” during the pandemic.
You can check out all of Legal Cheek’s autumn retention rate coverage here.