Magic Circle Law Firm Reveals High Retention In Qualifying Trainees
Freshfields Bruckhaus Deringer’s head count keeps growing as they retain nearly all of their qualifying trainees for spring 2020.
Founded back in 1743, the firm has confirmed it will retain 90 per cent of its newly qualified talent by making offers to 36 out its 39 qualifiers.
Legal Cheek said that:
“Freshfields became the first and so far only magic circle firm to go truly MoneyLaw, upping salaries for its newly qualified solicitors to six figures: £100,000 plus bonus.”
It will come of no surprise that those candidates who have been offered positions, 35 have already accepted the job offers which will see them work for one of the lucrative five magic circle law firms based in London.
Training principal Craig Montgomery said:
“We are delighted that we are retaining such a high proportion of our February 2020 qualifying intake. This is a real testament to the strength of the lawyers who have qualified with us in this round and we are incredibly proud of their achievements. It also reflects our ongoing commitment to recruiting, retaining and developing top talent for the future.”
Freshfields has beaten a fellow magic circle firm, Clifford Chance’s retention result – with them keeping on 34 of 40 this coming March.
Many law firms are investing in LawTech by setting up their own legal services centres in a bid to boost efficiency and deliver value and new services to their clients.
Freshfields, like the other magic circle law firms has injected vast amounts of money into new artificial intelligence-derived technology which has provided employment in the North West after opening a centre in Manchester.