Mayer Brown has confirmed a dismal retention rate for trainees qualifying this Autumn, as predicted by RollOnFriday last week.
The firm is is only giving jobs to ten of its 18-strong cohort qualifying in September. Three did not apply. The 55% retention rate follows a 40% rate this Spring, when only two out of five trainees were retained.
Last week RollOnFriday discovered it was slashing its 2016 intake by half, and suggested current trainees might be in line for a cut-throat game of musical chairs. And so it proved. A spokeswoman tried to look on the bright side, saying, "We are delighted that ten of our trainees will take up a permanent position at the firm". As for the rest, "Some of our trainees will be leaving us in order to pursue opportunities outside the firm and we wish them all the very best for the future".
There has been disappointment for 20 trainees at CMS, too. Following the takeover of struggling Dundas & Wilson, CMS found itself with an extra 26 final seat legacy D&W trainees to add to its 35. It has revealed that only 67% of the trainees are getting jobs (41), one of whom is on a six month contract. The pain has hit both firms' intakes, with 11 D&W trainees and 9 CMS trainees missing out on jobs.
Apparently the merger, which has already been responsible for redundancies, is to blame. A CMS spokeswoman told RollOnFriday "an integration of practices" had resulted in a reduction in NQ positions. She said jobs had been offered "in the particular parts of the business where we are most focused on investment and growth".
The table below sets out the current position across the field:
There are still plenty of firms yet to announce their retention figures. If you've come across yours, please let RollOnFriday know.
Tip Off ROF
The firm is is only giving jobs to ten of its 18-strong cohort qualifying in September. Three did not apply. The 55% retention rate follows a 40% rate this Spring, when only two out of five trainees were retained.
Last week RollOnFriday discovered it was slashing its 2016 intake by half, and suggested current trainees might be in line for a cut-throat game of musical chairs. And so it proved. A spokeswoman tried to look on the bright side, saying, "We are delighted that ten of our trainees will take up a permanent position at the firm". As for the rest, "Some of our trainees will be leaving us in order to pursue opportunities outside the firm and we wish them all the very best for the future".
 |
A trainee pursuing an opportunity outside Mayer Brown yesterday |
There has been disappointment for 20 trainees at CMS, too. Following the takeover of struggling Dundas & Wilson, CMS found itself with an extra 26 final seat legacy D&W trainees to add to its 35. It has revealed that only 67% of the trainees are getting jobs (41), one of whom is on a six month contract. The pain has hit both firms' intakes, with 11 D&W trainees and 9 CMS trainees missing out on jobs.
Apparently the merger, which has already been responsible for redundancies, is to blame. A CMS spokeswoman told RollOnFriday "an integration of practices" had resulted in a reduction in NQ positions. She said jobs had been offered "in the particular parts of the business where we are most focused on investment and growth".
The table below sets out the current position across the field:
There are still plenty of firms yet to announce their retention figures. If you've come across yours, please let RollOnFriday know.
Comments
73
91
90
85
81
88
90
82