Clifford Chance retains 96% of its autumn trainees

Clifford chance has announced that it will retain 45 of its 47 trainees who will be qualifying in autumn 2015, putting its retention rate at a solid 96%.

The firm offered 45 of its trainees the position of NQ and - surprise, surprise – all accepted a position at the magic circle firm.

This puts Clifford Chance ahead of both Freshfields and Slaughter & May, who retained 83% and 89% of their cohorts respectively.

This is great improvement from last year, when only 75% of trainees assumed positions at the firm. However, the firm remarked that its ultimate, formal trainee recruitment target remains to be 100%.

Historically spring retention rates are higher than autumn, but this year the spring retention rate was 91%, which is 5%, lower than autumn. Clearly, this year the need for trainees and junior resources has encouraged a larger intake than usual ready for September.

The retention rate comes a month after Clifford Chance London’s managing partner, David Bickerton, announced that the firm was to recruit ten more trainees, in order to cope with the increase of work that they have received.

In December 2012 the firm reduced its trainee intake significantly from 120 to 100.

At the time the firm released the statement: “The new target will be to recruit up to 100 a year. This follows more accurately the number of English-qualified lawyers we anticipate needing for our English law practice in the UK and the rest of the world in a few years’ time.”

It would seem that the reduction in trainees coupled with the improving economy has left Clifford Chance slightly short of man power, and it is likely that we’ll see a larger intake net year.

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