_{HR meetings across the City are underway to discuss the fate of their trainees}

BCLP, HSF and Allen & Overy are the latest City firms to start putting pen to paper with job offers for their spring qualifying trainees.

At BCLP, as things stand, the firm has retained just four out of its spring cohort of 14 trainees in London - 29%. However, the number is not fixed, said the firm. A BCLP spokeswoman told ROF that the US firm is actively trying to find positions for the remaining trainees. RollOnFriday understands that there is currently at least one potential position in the pipeline of a permanent internal role (which would bring the firm's retention score to around 36%, if successful). 

“Our qualification process remains in progress as we work to find as many roles as possible for our people. While the exact number of positions and offers has not been finalized, we do expect a notably lower retention rate than we’ve seen historically at this point in time, under 40%," said the spokeswoman. "Looking ahead, we hope to extend further offers and will continue to support our qualifiers throughout their last seat and beyond.”

A retention score of under 40% at BCLP would represent a dip for the firm following a good mark last year, when the firm kept on 79% of its qualifiers. Trainees in the autumn cohort will be keeping their fingers crossed that the retention numbers go back up, later this year. 

BCLP's London NQs will be paid a base salary of £105k.  

HSF has posted a stellar retention score of 97%, as it is giving permanent roles to 29 out of 30 qualifying trainees this spring. The firm is on a roll, as it recorded a 93% retention rate overall last year. NQs at the silver circle firm are paid a base salary of £120k.

"Continuing to maintain a high retention rate in what remains a competitive environment is no easy task, so I am delighted to see this trend continue," said David Rosen, HSF's training principal. "We remain committed to recruiting the best talent and building a solid career path for them and these latest figures are testament to our ability to deliver on that promise."

Meanwhile, ahead of the imminent merger with Shearman & Sterling, Allen & Overy has posted a retention rate of 77%, as it is taking on 30 out of its 39 qualifying trainees this spring. The firm posted a retention score of 93% in autumn 2023 and 87% last spring. NQs at the firm will be paid a base salary of £125k.

“We’re delighted that so many of our trainees have decided to remain at A&O, and further their careers at this exciting time for the firm as we merge with Shearman & Sterling to become A&O Shearman," said A&O's training principal, James Partridge. "We continue to invest in and develop our people, and this retention rate reflects the strength of our people pipeline. Congratulations to our latest cohort of qualifying solicitors.”

If you know the retention score at your firm, do get in touch. 

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