Whilst it may seem that like there is plenty of uncertainty within the legal profession, including the limited spaces available on the much sought after Training Contracts and Pupillages, it seems that some firms are having very high retention rates!
Maybe there is a light at the end of the tunnel if you have successfully completed your LLB, LPC and Training Contract and then a firm chooses to keep you on – rather than you having to find somewhere new to work as an NQ in a slightly struggling legal climate!
This spring, Nabarro will retain all of its eight qualifying trainees, and they would progress into a newly-qualified capacity at the firm.
Over the last few years it has been very rare it seems for a firm to have a 100% retention rate so perhaps this is now the turning point.
Nabarro has stated that all eight of the current trainees, soon to be NQ Solicitors, will work out of the London office and they will all take on the role in varying sectors.
Nabarro’s graduate recruitment partner James Snappe commented that Nabarro do always try to retain as many of their trainees as possible, and there has been a massive increase in the percentage of retention since Autumn 2012.
Nabarro’s retention rates since 2012:-
Spring 2014 – 100% (8 out of 8)
Autum 2013 – 94% (17 out of 18)
Spring 2013 – 78% (7 out of 9)
Autumn 2012 – 69% (9 out of 13)
To date there have been only two other firms who have released their retention results for Spring 2014 – Allen and Overy are going to keep 84% of their 49 trainees, whilst Osborne Clarke are going to keep 100% (they have six trainees at present).
So my plan is to keep an eye out as and when more retention rate reports come in – and see whether or not the Legal Market is picking up for NQ Solicitors, or whether these are going to be the lucky few!
rebecca x
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