Slaughter and May is the last of the Magic Circle to post its autumn trainee retention figures, with a rate of 89%, making it the third best of the Magic Circle elite.
Of a cohort of 36, 35 qualifiers put themselves forward and the firm made 34 offers, of which 32 were accepted.
Slaughters’ retention figures are down 6% from its spring rates, which saw the City heavyweight keep 95% of its trainees in newly-qualified positions at the firm earlier this year.
Commenting on the result, a spokesperson for the firm said the overall retention rate was broadly in line with previous years. He added: ‘We are very pleased with this continued strong showing which bodes well for the long-term future of the firm.’
Slaughters’ rate of 89% makes it third best of the Magic Circle firms, with a better rate than Clifford Chance and Allen & Overy, but worse retention figures than Linklaters and Freshfields Bruckhaus Deringer.
Linklaters posted the best of the Magic Circle this autumn, with 91% kept on, including resignations. The firm had a cohort of 56 with five resigning. Freshfields posted a 95% retention rate with all 40 trainees which were offered positions accepting. The Fleet Street firm had a cohort of 42.
Allen & Overy retained 86% of newly qualified. The firm had a total intake of 42, with 39 applying for spots and 38 offers made. Clifford Chance, which recently announced it would cull its trainee intake by 20% by 2018, posted the lowest autumn retention rate, retaining 82% of its cohort. The firm had 49 trainees, of which 41 were offered jobs, and 40 accepted.
