35 out of 37
Slaughter and May has posted a strong spring trainee retention rate of 95%
Thirty-five of its 37 trainees qualifying this spring have been retained, all on permanent deals. This marks the highest retention rate of the Magic Circle firms for the spring 2024 season.
Translating to a score of 95%, this represents a slight uptick on the Slaughters’ autumn 2023 figure of 93% (37 out of 40). It falls slightly short of its 2023 spring rate which saw all 47 trainees stay on.
The Legal Cheek Firms Most List 2024 shows Slaughters takes on around 95 trainees each year, representing one of the largest cohorts in the City. Newbies can expect to take home £50,000 in their first year, and £55,000 in their second. The firm’s newly qualified associates now earn £125,000, reflecting a 7% increase from their previous salary of £115,000, which was implemented at the end of last year.
Slaughters is the final MC firm to reveal its spring 2024 rate. Linklaters posted a score of 84% (41 out of 49), whilst Allen & Overy recorded a rate of 77% (30 out of 39). Elsewhere, Freshfields confirmed a score 84% (32 out of 37) and Clifford Chance recorded 71% (40 out of 56).