The latest batch of trainee retention figures from two of London’s most prominent law firms reveals a mixed picture of stability and strategic evolution. Mishcon de Reya has posted an 86% retention rate, keeping 19 of its 22 qualifying trainees, while Macfarlanes follows closely with 83%, retaining 24 of its 29. These numbers, while strong by historical standards, invite a closer examination of how elite law firms are balancing talent development, salary competitiveness, and alternative career pathways in a market that continues to evolve under pressure from both clients and junior lawyers.
Mishcon de Reya retains 86% of trainees, with two on solicitor apprenticeship track
Mishcon de Reya announced that 19 out of 22 trainees who completed their training contracts this qualification round will remain with the firm. Seventeen of those will qualify as solicitors and begin their roles as associates this month. The remaining two are following a less conventional route: they are progressing through Mishcon de Reya’s six-year solicitor apprenticeship programme and are expected to qualify and start as associates in February 2027. This dual-track approach underscores the firm’s commitment to broadening access to the profession while maintaining rigorous standards.
The 19 new associates will be deployed across a range of practice areas. They will join teams within the firm’s corporate, dispute resolution, employment, innovation, private, and real estate departments. Such a wide distribution suggests that Mishcon values versatility and cross‑practice exposure, a hallmark of its training philosophy. The firm’s newly qualified solicitors will start on a salary of £110,000, up from a second‑year trainee salary of £57,000. That jump of nearly 93% reflects the premium placed on qualified talent in the current London market.
The solicitor apprenticeship programme: a growing alternative pathway
Mishcon de Reya’s retention announcement highlights two trainees who are part of the firm’s six‑year solicitor apprenticeship programme. This route combines academic study with extensive practical experience, offering an alternative to the traditional law degree and Legal Practice Course pathway. It is designed to attract candidates from a wider range of backgrounds and to provide them with the same rigorous training as their university‑trained peers. The fact that these two individuals are on track to qualify and become associates in 2027 signals that apprenticeship programmes are no longer experimental—they are becoming embedded in the talent strategies of leading firms. Daniel Lipman, partner and training principal at Mishcon de Reya, emphasised the firm’s pride in this alternative route, noting that it provides “an alternative route into the profession while combining academic study with extensive practical experience.”
Macfarlanes retains 83% of trainees, offers all newly qualified permanent contracts
Macfarlanes, the elite London firm known for its deliberately lean structure and high‑quality work, has offered newly qualified positions to 24 of its 29 trainees qualifying this month, yielding an 83% retention rate. All 24 will join the firm on permanent contracts. This is a slightly lower rate than Mishcon’s, but still comfortably above the 70–75% average that many City firms have reported in recent years. Adam Campbell, early careers partner at Macfarlanes, congratulated the qualifying trainees and highlighted the firm’s focus on “early responsibility, close support, and exposure to high‑quality work” as the foundation for long‑term careers.
Macfarlanes’ newest associates will start on a salary of £150,000. That figure is significantly higher than Mishcon’s £110,000, reflecting Macfarlanes’ smaller size, higher profitability per lawyer, and its reputation for paying top of market to retain talent. The gap between the two firms’ NQ salaries also illustrates the growing stratification within the London legal market: firms with lower leverage and higher billing rates can afford to pay more, while firms that take on larger trainee intakes may offer somewhat lower starting salaries but compensate with broader practice exposure and faster career progression in certain areas.
What retention rates actually tell us about firm culture and strategy
Retention rates alone do not tell the full story. They are a snapshot of how many trainees accept offers, but they do not reveal why those offers were made—or why some trainees declined. In both Mishcon and Macfarlanes’ cases, the numbers are high, suggesting that most trainees feel the firm has met or exceeded their expectations. However, the few who leave may do so for a variety of reasons: relocation, desire to move in‑house, pursuit of a different practice area, or simply a mismatch of culture. For firms, retention rates above 80% are generally considered healthy, especially in a market where lateral hiring is active and competition for top junior talent remains fierce.
What is the significance of an 86% or 83% retention rate for trainees? In the context of London law firms, these figures indicate that both Mishcon de Reya and Macfarlanes are successfully converting most of their training cohorts into permanent associates. This signals strong firm culture, effective mentorship, and competitive remuneration. It also suggests that the firms are selecting trainees well—ensuring that those who join their training programmes are likely to want to stay. Retention rates are a key metric for law firm recruiters, as high turnover can disrupt client relationships and increase recruitment costs.
Salary progression from trainee to NQ: a steep climb
The salary data from both firms highlights the dramatic leap that trainees experience upon qualification. Mishcon de Reya’s NQs move from £57,000 in their second year of training to £110,000—a jump of £53,000. Macfarlanes’ trainees, whose exact second‑year salary is not disclosed in the current data, are likely to see an even larger percentage increase given the £150,000 NQ starting figure. Such increases reflect the market reality that qualified solicitors are far more valuable to firms than trainees, who are still under supervision. The competitive landscape in London has seen NQ salaries rise steadily over the past decade, with top firms now routinely paying between £100,000 and £160,000. This trend shows no sign of abating, as firms vie to attract and retain the best talent.
Regional and firm‑size variations in NQ pay
While Mishcon and Macfarlanes both operate in London, their salary structures differ markedly. Macfarlanes’ £150,000 puts it in the upper tier of City firms, alongside magic circle firms and certain US‑based competitors. Mishcon’s £110,000 is competitive but not at the absolute top, which aligns with its brand as a high‑growth, entrepreneurial firm rather than a traditional elite partnership. For prospective trainees, these differences factor into decisions about where to apply. Some may prioritise the highest starting salary; others may value a more varied practice mix or a less hierarchical culture. The fact that both firms achieved retention rates in the 80s suggests that neither approach is clearly superior—each works for the right cohort.
Industry context: trainee retention in a post‑pandemic market
The legal profession has seen significant shifts in trainee retention since the pandemic. Remote and hybrid working, rising salary expectations, and increased awareness of wellbeing have all influenced how trainees evaluate their firms. Many firms that previously struggled to retain trainees have improved their retention by investing in pastoral care, mental health support, and flexible working policies. Moreover, the boom in transactional work during 2020‑2022 created a very active associate market, leading some firms to offer retention bonuses and accelerated promotion tracks. As market conditions normalise, retention rates are settling back to levels that reflect underlying firm quality rather than temporary market heat.
Mishcon and Macfarlanes both have long‑standing reputations for good training. Mishcon has a strong brand in litigation and private client work, while Macfarlanes is known for its corporate, finance, and real estate practices. Their retention rates for this autumn cohort are consistent with past years, though slightly lower than some of their peer firms have reported. For example, a few City firms recently posted rates above 90%. The difference may stem from the specific composition of this year’s trainee groups, or from the fact that some trainees choose to pursue in‑house roles or other careers immediately after qualification. There is no single benchmark that defines success; context matters.
Quotes from firm leaders reinforce commitment to training
Daniel Lipman, Mishcon’s training principal, framed the retention news as evidence that junior lawyers see a future at the firm. “Our junior lawyers are the future of the firm, and I am delighted that 19 members of this year’s cohort have chosen to continue their careers with us, resulting in a retention rate of 86%. They have embraced every opportunity to learn and develop while making a valuable contribution to their teams and our clients.” He also specifically highlighted the apprenticeship route, saying, “It is particularly rewarding that this group includes two colleagues who are progressing through our Solicitor Apprenticeship programme, which provides an alternative route into the profession while combining academic study with extensive practical experience. We are very proud of all 19 and look forward to seeing their careers flourish at Mishcon.”
Adam Campbell of Macfarlanes similarly praised the qualifying cohort. “Congratulations to all of our qualifying trainees on reaching this important milestone. We are proud to offer an outstanding training experience that combines early responsibility, close support, and exposure to high‑quality work, enabling our trainees to develop the skills and confidence to build long and successful careers.” These statements, while standard in form, are backed by the firms’ actual retention outcomes. They reflect a genuine priority on junior talent development—a theme that has become central to law firm strategies in the war for talent.
How these figures compare to the wider legal market
Across the City, trainee retention rates have been volatile in recent years. A survey by the Law Society and various recruitment platforms suggested that the average retention rate for London firms fluctuates between 70% and 85%. Firms that fall below 60% face tough questions about culture or workload management. At 86% and 83%, Mishcon and Macfarlanes are comfortably above the median. However, they do not top the charts. Some firms, such as Clifford Chance or Linklaters, have occasionally reported rates above 90% in the past, though those rates have slipped in some recent cycles. The key takeaway is that consistent retention in the low 80s is a sign of a well‑managed training programme that aligns trainee expectations with firm reality.
Why some trainees still decline offers
Even with high retention, a minority of trainees choose to move on. At Mishcon, three trainees out of 22 will not be staying—a 14% attrition rate. At Macfarlanes, five out of 29—17%—are leaving. These individuals may have secured roles in other firms, in‑house positions, international opportunities, or entirely different careers. Some may have been asked to leave due to performance issues, though firms rarely disclose such details. For the firms themselves, a small amount of churn can be healthy, spreading alumni across the legal ecosystem and building long‑term networks. The real danger is when retention drops precipitously, indicating systemic problems.
Future implications for law firms and trainees
The data from Mishcon and Macfarlanes is a snapshot, but it points to broader trends. The solicitor apprenticeship model is gaining traction; Mishcon is not alone in expanding this route. Other firms, such as Allen & Overy and Freshfields, have also launched apprenticeship programmes. This diversification of entry pathways will likely change the composition of trainee cohorts over the next decade. More trainees will come from non‑traditional backgrounds, and firms will need to adapt their training methods accordingly. Additionally, salary levels will continue to be a focal point. As the cost of living in London rises and as competition from US firms intensifies, UK firms must decide whether to keep pace with the highest pay or differentiate on culture, training quality, and work‑life balance. Mishcon’s £110,000 and Macfarlanes’ £150,000 represent two strategic choices in that landscape.
For trainees currently considering their options, these retention figures serve as useful signals. A high retention rate suggests that those who have been through the programme largely found it rewarding. But it is worth asking: why did the few who left decide to go? Engaging with current and former trainees, reading salary data alongside practice area exposure, and understanding a firm’s strategic direction are all essential steps. The legal market is cyclical, and today’s strong retention does not guarantee tomorrow’s. However, the fact that both Mishcon and Macfarlanes are investing in alternative pathways, maintaining competitive NQ pay, and publicly celebrating their trainees indicates a long‑term commitment to talent that should withstand market fluctuations. As these 43 new associates step into their roles, they will shape the next generation of their firms—and the firms themselves will watch closely to see whether their training investments pay dividends in loyalty performance.
