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  #509 (permalink)  
Old 26-12-2015, 10:23 AM
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Retention rates are quite bad also. Big fours retention rate is slightly above 60%. Medium firms retain less than half of their trainees. And small firms (below 30 lawyers) do not even retain. This figures are set to get worse as the market reaction is usually delayed by two years due to trainees securing their TC 1-2 years before graduation.

Therefore, the market has obviously not recovered from the glut, and with a slowing economy and possible recession next year, lesser transactions, etc, it's going to be quite a rough time ahead.

In such situations, people usually resort to whatever connections they can find.
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