Reed Smith records 77% spring trainee retention rate

10 out of 13

Reed Smith has confirmed it will retain 10 trainee solicitors due to qualify next month, handing the firm a retention score of 77%.

Three of the firm’s new associates will join their financial industry group, with a further two going to the corporate team and the remaining five split between energy & natural resources; transportation industry; real estate; labour & employment; and global corporate disputes teams. They are all on permanent contracts.

The Legal Cheek Firms Most List 2023 shows the new recruits will start on a salary of £107,500, up from second year trainee rate of £55,000.

Reed Smith’s training principal, Nick Harris, said:

“We are pleased to report that 10 out of our 13 NQs will be continuing their careers with Reed Smith. A huge congratulations to our talented new class of associates. We look forward to helping them fulfil their full potential at the firm.”

The firm recently launched a scheme to support first-year students from backgrounds underrepresented in law, with successful participants ‘fast-tracked’ through its 2024 vacation scheme application process.

On this, Reed Smith’s graduate recruitment manager, Rebecca Schrod, commented: “Over the last few years, we have introduced a number of DEI initiatives to try to support diverse individuals in pursuing a career in the legal profession.”

“We are well aware that diversity of thought drives innovation, which is essential to the firm’s future success, and so we want to ensure that we are removing barriers that inhibit diverse individuals from pursuing a career in the legal profession,” she added.

Last year the firm announced plans to move from its current digs at the top of Broadgate Tower (pictured top) to Blossom Yard & Studios in Spitalfields in early 2024.