Retention rates fall in the Magic Circle

Mar 31, 2016

Written By Jack J Collins, Editor, AllAboutLaw.co.uk

Clifford Chance have posted the lowest figure of retention rates od magic circle firms this spring, with the number of trainees staying at firms falling across the board.

The legal giant posted an 80% retention rate of trainees this spring, as they kept 43 on out of an initial cohort of 54 – a figure far lower than the 91% it posted in Spring 2015, and the 96% retention of Autumn of the same year.

Figures also fell at Linklaters, who kept 45 of their 54 trainees (83%); Freshfields, who kept 31 of its cohort of 38 (82%, down from 85%); and Allen & Overy, who gave roles to 39 or its 43 trainees (91%, down from 93%).

Slaughter and May were the only magic circle firm to increase its retention rate, keeping 38 of its 40 trainees (95%), up from 37 of 42 last year (88%).

Stepping outside the circle, Weil, Mayer Brown and Macfarlanes were united in boasting 100% trainee retention rates, and whilst White & Case made 15 offers to 15 trainees, 13 will be staying with them to give them a rate of 87%.

Hogan Lovells kept 27 of its 29 trainees (93%), whilst BLP kept 70% - making offers to 16 of an original cohort of 20, of which 14 accepted the offer.

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