NEXT
Sign in to follow

International Edition

Trainee retention rates at UK top 10's HK bases remain high as firms continue to invest in Asia

Trainee retention rates at the Hong Kong offices of the UK's top 10 law firms have remained broadly static on last year as firms continue to invest in Asian markets, despite a comparatively uncertain year for the local economy. Ninety percent (55 out of 62) of newly qualified lawyers (NQs) at the UK's top firms in Hong Kong were offered jobs this September, all of whom accepted, according to research by Legal Week.
3 minute read

International Edition

Hearts and minds: law firms must engage their staff to avoid fragmented cultures

We're living in uncertain times, and the legal industry is facing complex challenges. Clients are becoming more demanding, and competition to win and retain them has intensified. Mergers and acquisitions, globalisation and the rise of the virtual law firm can lead to fragmented cultures. Alongside this, you have the frustration of junior lawyers and associates facing a longer wait for partnership, and evidence that many firms are shrinking the relative size of their equity partnerships.
5 minute read

International Edition

Belt-tightening takes its toll as newly qualified recruits dip 6%

The number of newly qualified (NQ) lawyers accepting roles at the UK's top 20 law firms has fallen 6% year-on-year as the effects of the uncertain market continue to be felt at the lower end of the profession. In total 672 NQs took up roles at the top 20 firms this year, a drop of 6.3% on the autumn 2012 qualifying round, in which 717 lawyers were recruited, according to research by Legal Week. The trend reflects a broader dip in the number of qualifying lawyers this year, with cutbacks in firms' graduate recruitment during the worst of the downturn now playing out further down the line. There was a total of 825 qualifying lawyers across the group this autumn, down 7% from last year's figure of 887, with firms including Eversheds, Herbert Smith Freehills and Simmons & Simmons all seeing a decrease in the number of NQs coming through the ranks this year.
4 minute read

International Edition

Eversheds and Clydes announce retention rates for autumn intakes

Eversheds and Clyde & Co have become the latest UK top 50 firms to confirm their autumn trainee retention rates for 2013, following a clutch of announcements in recent weeks. Eversheds is keeping on 84% of its newly qualified (NQ) lawyers this autumn after offering 40 of its 45 qualifiers a role at the firm, with 38 accepting. The percentage is flat on last autumn's round, when the firm retained the same proportion of NQs.
3 minute read

International Edition

Law firm optimism grows despite flat volumes in last quarter, CBI study reveals

Hopes for increased business volumes and profitability at law firms have reached their highest peak since 2007, according to a survey of senior industry professionals. The report, produced by the Confederation of British Industry (CBI), found that although respondents from management, legal and other professional services reported that business volumes were flat over the last quarter, firms were confident that business volumes would pick up over the coming three months.
3 minute read

International Edition

Ex-Dewey trainees qualify at Ropes as Latham expands London intake

Ropes & Gray and Latham & Watkins have set out plans to expand their trainee programmes in London, as both firms post strong retention rates for their autumn qualifying intakes in the City. Ropes has retained all five of its newly qualified (NQ) lawyers - the first batch to qualify with the firm in the City - with the autumn intake including a number of ex-Dewey & LeBoeuf trainees cast adrift when the firm collapsed last year.
3 minute read

International Edition

A&O trims annual trainee intake for third time in four years

Allen & Overy (A&O) has announced that it will trim back the number of trainees it takes on from 2015, as the firm joins Olswang and Wragge & Co in confirming retention rates for its autumn qualifiers. The magic circle firm will recruit 85 trainees per year as of 2015, down from the current annual intake of 90.
3 minute read

International Edition

Holman Fenwick posts 100% retention as FFW hands NQs 12-month posts

Holman Fenwick Willan, Field Fisher Waterhouse and Bird & Bird have all announced the details of their autumn trainee intakes, as more details of UK top 50 retention rates continue to emerge. Holman Fenwick is retaining 100% of its trainees after offering all 15 associate positions with the firm. Six of those are to be based in overseas offices including Geneva, Piraeus, Dubai, Hong Kong and Singapore.
2 minute read

International Edition

Norton Rose Fulbright boosts newly qualified pay by £1,500 to £63,000

Norton Rose Fulbright has raised salaries for its newly qualified (NQ) lawyers by £1,500, alongside the announcement of a 92% retention rate for this September's trainee intake. The new NQ salary, which came into effect at the start of 1 July this year but has been backdated to 1 May, has seen pay boosted to £63,000 from £61,500.
2 minute read

International Edition

Dentons, Ince and Watson Farley post autumn trainee retention rates

Dentons, Ince & Co and Watson Farley & Williams (WFW) have announced their trainee retention rates for September 2013, with the former two firms keeping on just over two thirds of their qualifiers. Dentons posted a 68% retention rate after 17 of its newly qualified (NQ) trainees accepted a job offer at the firm. Of its 25 trainees, five chose not to apply and three were unsuccessful.
2 minute read

TRENDING STORIES

Law Pro Logo

Featured Firms

Law Offices of Gary Martin Hays & Associates, P.C.

(470) 294-1674

Law Offices of Mark E. Salomone

(857) 444-6468

Smith & Hassler

(713) 739-1250

More from ALM

More from ALM

Legal Speak is a weekly podcast that makes sense of what’s happening in the legal industry.

Resources

  • 5 Proven Steps to Accelerate Business Growth in a Crowded Legal Market

    Brought to you by AllRize

    Download Now

  • 2024 Report: Digital Payments in Class Actions and Mass Torts + a Special Look at Industry Fraud

    Brought to you by Western Alliance Bank, Member FDIC.

    Download Now

  • Law Firm Office Space Perspective: Major U.S. Markets

    Brought to you by JLL

    Download Now

  • Expanding Your Practice Areas: How to Expand Offerings that Attract and Retain Clients

    Brought to you by Filevine

    Download Now