Retention rates fall in the Magic Circle

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.