International firm Clyde & Co will take on 90% of its trainees this autumn, but junior lawyers’ pay has been reduced in response to coronavirus.
Of the 40 trainees in the qualifying cohort, 36 will stay on at the firm, with 29 based in London.
However, NQs have seen their pay reduced from £70,000 to £68,000. Meanwhile, salaries for first year trainees has fallen from £40,000 to £38,000, while second year trainees will receive £40,000 as opposed to £42,000.
James Major, training principal, said: ‘We are delighted that such a significant proportion of our trainees will be staying with the firm. Our home-grown talent is vital to the long-term health of the firm, especially at such an uncertain time in the wider business market. We are excited that we will have such a talented group of newly qualified solicitors and look forward to supporting them to develop a career here and reach their full potential.’
Given coronavirus uncertainty, Clyde & Co has also deferred salary reviews and promotions processes, that typically take place between April and June, to October.