More training contract deferrals
- 22nd February 2010
The recession may officially be over but more deferrals of training contracts have been announced this week. City giant Herbert Smith has started the process of deferring future trainees who were due to start their training contracts this September and in March 2011.
The firm has reportedly asked the future trainees for volunteers to defer for six months in return for a cash incentive of £10,000 to smooth about the numbers of its twice yearly intakes. A year ago, the firm asked around 79 trainees to defer their training start dates.
A spokesperson for Herbert Smith says: “Similar to what we did last year, we are seeking through deferrals to rebalance our future trainee intakes. We are committed to doing this in order to ensure we can continue to provide a high quality training environment for them, particularly given the difficult and uncertain market conditions law firms continue to face. The financial incentive we are offering reflects our commitment.”
Meanwhile, Ashurst has announced it will be retaining just 14 trainee solicitors out of 21 on qualification this spring and Denton Wilde Sapte retaining just 14% of this spring’s qualifiers.