Trainee retention rates - a key indicator of market sentiment - have risen across all the magic circle firms, with an average 91% of trainees being taken on as newly qualified associates this autumn.
Freshfields Bruckhaus Deringer reported the highest autumn retention rate of 93%, 10 percentage points more than last year. Meanwhile Linklaters’ retention figure leapt from 73% to 91%.
On average, the five firms each had 45 trainees of which 41 were taken on.
Freshfields’ trainee development partner Craig Montgomery said: ‘We are very pleased to be keeping on a high proportion of our August 2019 qualifying intake, reflecting the firm’s continued commitment to recruiting, developing and retaining top talent.’
| Firm name | Autumn Retention Rate 2019 | Autumn Retention Rate 2018 |
|---|---|---|
|
Allen & Overy |
89% |
80% |
|
Clifford Chance |
87% |
77% |
|
Freshfields Bruckhaus Deringer |
93% |
83% |
|
Linklaters |
91% |
73% |
|
Slaughter and May |
92.5% |
86% |
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