As applications for TCs at the international outfit soar by 54%
The London office of Reed Smith has confirmed an autumn retention score of 77%.
Of the 13 trainees to qualify this autumn, 10 have secured associate positions at the international firm. Reed Smith’s energy and natural resources group will gain two new lawyers, while corporate and commercial disputes team will also receive two. The remaining newly qualified (NQ) lawyers will join structured finance, shipping, employment and IP. All are on permanent contracts.
Brigid North, training principal at Reed Smith, said:
“We are pleased to report that this year, 10 out of our 13 qualifiers will be pursuing their careers with us as associates. We continue to enjoy strong retention rates, which we believe are testament to the great effort we put into finding the right trainees, and into nurturing and investing in them once they join us. We send our congratulations to our new crop of associates and very much look forward to helping them fulfil their potential at the firm.”
North also revealed that the competition for training contracts remains fierce, adding: “It is also pleasing to see sustained appetite to join the firm at trainee level. In fact, applications for training contracts have increased by 54% since 2014, meaning we are even better placed to hire and retain the most talented and diverse candidates.”
Today’s news marks a slight drop on the firms autumn 2017 result. On that occasion, Reed Smith chalked up a rate of 86% (12 out of 14), including one rookie it rescued from King & Wood Mallesons (KWM) following the collapse of its UK arm.
Retention performance aside, our Firms Most List 2019 shows that Reed Smith’s new City recruits will start on a salary of £75,000, while trainees earn £43,000 in year one, rising to £47,000 in year two. It currently offers around 25 training contracts each year.
But what’s life like high up in the Broadgate Tower? In our Trainee and Junior Lawyer Survey 2018-19 Reed Smith scored an A* for its office and As for training, peer support, quality of work, partner approachability, tech, perks and canteen.