Rounding out the Magic Circle retention rates, Allen & Overy has announced an 86% retention rate for the trainee intake qualifying in September 2015 while Linklaters is keeping on 84%.
The firm saw 42 of the 44-strong intake apply for newly-qualified positions. All but one of these received offers, and 38 ultimately accepted positions at the firm.
A&O’s rate is higher than the 82% it achieved last autumn, but is down slightly from its performance this spring, which saw it retain 93% of qualifiers.
James Partridge, A&O partner and training principal, said: ‘Our trainee retention rate for September 2015 is 86%, this is another pleasing result which demonstrates the consistently high standard of the trainees here at A&O, as well as our commitment to supporting their long term careers with us.’
Meanwhile, Linklaters kept on 46 out of its 55 initial intake with all of those being made offers choosing to accept them. In London, the capital markets practice benefitted the most with eight qualifiers set to join the team in September while banking and corporate received six and five respectively and litigation took seven. Two will join international offices with Singapore and Paris both taking a newly qualified.
Compared to its Magic Circle peers, A&O’s and Linklaters retention rates are marginally higher than what Freshfields Bruckhaus Deringer achieved for autumn 2015, with the latter having kept on 40 of its 48 trainees (83%).
Elsewhere, Slaughter and May retained 89% of their 37-strong intake – a low number by its usual standards but still higher than A&O and Freshfields have achieved.
Clifford Chance has thus far set the Magic Circle pace with an impressive retention rate of 96%. 45 of the cohort of 47 were offered places, and all of them accepted.
This article first appeared on Legal Business’ sister publication The Lex 100.