Linklaters is the latest Magic Circle firm to post its trainee retention numbers, retaining 84% of its 56-strong cohort.
This proportion was slightly down on its 91% autumn retention rate last year. 53 offers were made to this year’s group, with 47 accepting positions. Last week Allen & Overy posted a retention rate of 85% while Freshfields Bruckhaus Deringer retained 66% of its cohort.
In addition, Gowling WLG, Macfarlanes, Ince & Co, Taylor Wessing and Stewarts Law have also revealed their trainee retention rates this week.
From a group of 25 trainees, Gowling WLG has retained 21 individuals, giving it retention rate of 84%. Twelve people have taken up newly qualified positions in the City and nine will join the firm’s Birmingham office. It’s an improvement on last autumn’s 78% trainee retention rate when the firm kept 18 of its 23 trainees.
Macfarlanes has retained 100% of its 25 trainees, with 23 individuals agreeing to permanent positions while two people accepted fixed term contracts. This year’s figures are an improvement on last autumn’s 90% retention figure. The firm’s head of graduate recruitment Seán Lavin said the firm tries ‘very hard to ensure that we can offer a role to each trainee on qualification in order to keep that talent within the firm’, taking on ‘the highest quality … with a view to offering them long-term careers with the firm’.
Ince & Co has mirrored its results from last year, posting a 90% retention rate from its group of 10. Two of its NQs will join take up places outside of the firm’s London headquarters with one joining its Monaco office and another in Dubai. Last autumn the firm retained 89% of its group of nine.
Taylor Wessing posted a lower trainee retention rate, keeping 62%. It’s a tumble on last year’s figures when the firm retained 77% of its group of 22. Sixteen NQs will remain at the firm with patents; IT, telecoms and competition; disputes and investigations; private client; private equity; private capital and corporate finance; and real estate, planning and environment practices each gaining two new associates apiece, while the construction and engineering and tax and incentives practices will both be receiving one NQs.
And despite another strong year financially, Stewarts Law has retained just one of its four trainees qualifying this autumn.
This article first appeared on The Lex 100‘s sister publication, Legal Business.