Intern retention figures released today by two international firms provide mixed evidence of confidence in the legal services market. Fall 2022 retention rates – an important indicator of sentiment – are down from last year at Eversheds Sutherland (pictured above) but have increased slightly at DAC Beachcroft.
Eversheds Sutherland reported that 34 of its 43 legal trainees (79%) had accepted roles as newly qualified lawyers. Eight additional UK interns qualified six months earlier in March this year, resulting in an overall UK intern retention rate of 82%, the firm said. Last year, the rate was 87%.
This number includes the firm’s first cohort of legal apprentices, who will join the firm’s practice teams, six as lawyers and one as a legal technologist. Lorraine Kilborn, Director of Human Resources, said: “Attracting, retaining and developing diverse junior talent, from diverse socio-economic backgrounds, will enable our firm to grow and we are delighted that so many young lawyers are now starting their careers at solidify.’ Kilborn revealed that 10 ex-paralegals are taking the new Barristers Qualifying Examination route to become barristers.
DAC Beachcroft meanwhile announced it would retain 89% of its articling students, with 16 of the Newly Qualified (NQ) attorneys remaining in permanent positions with the firm. Last year’s figure was 87%. NQs will be based in London, Bristol, Manchester and Leeds.
Anthea Lane, Partner and Head of Training at DAC Beachcroft, said: “We are delighted to welcome them to our team of talented colleagues, recognized for their knowledge and exceptional commitment to customer service.