Norton Rose boosts trainee retention to 89% of May qualifiers
Norton Rose has posted a sharp increase in its trainee retention rate by keeping on 89% of its May 2013 intake of qualifiers. The top 10 firm offered newly qualified (NQ) solicitor roles to 18 of its 19-strong trainee intake, with 17 acceptances.
April 18, 2013 at 08:22 AM
2 minute read
Norton Rose has posted a sharp increase in its trainee retention rate by keeping on 89% of its May 2013 intake of qualifiers.
The top 10 firm offered newly qualified (NQ) solicitor roles to 18 of its 19-strong trainee intake, with 17 acceptances.
The rate is up on its January intake, when the firm kept on 76% of its NQs after 13 of its 17 trainees accepted jobs at the firm, as well as its respective autumn and spring 2012 qualifying rounds, which each saw 78% retention rates.
In March, Legal Week research revealed a 9% fall in trainee retention rates across the bulk of the UK's largest law firms, with the top 20 UK firms keeping on an average of 76.5% of newly qualified (NQ) lawyers.
The latest retention figures come from Norton Rose as it undergoes a shift in its trainee rotation system after announcing last year that it planned to reduce its training contract from six seats to four over a two-year period.
As a result, the firm will see a total of three qualification rounds this year, in January, May and September. This will be slimmed back down to two intakes in 2014, in May and September. From 2015 onwards, the intakes will be in March and September.
The new system requires trainees to undertake seats in corporate, banking and disputes, with the fourth option offering experience either at an international office, on a client secondment or in another London-based team.
The new scheme also sees the firm open up its trainee rotation programme to Sydney and Perth for the first time. Two London trainees are expected to go to Australia, with two Australian lawyers travelling to London.
Previously Norton Rose's rotation programme enabled London trainees to spend four months of their two-year contract in one of the firm's international offices in Asia, the Middle East or Europe.
Norton Rose is set to merge with US firm Fulbright & Jaworski on 1 June.
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