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Spring NQ retention rates perk up

updated on 08 March 2011

March newly qualified (NQ) retention rates at the top 30 UK law firms are up by an average of 10% - a good sign that there's new life in the legal recruitment market after the economic downturn. As reported in The Lawyer, the average rate is 84% when considering the number of trainees compared with the number offered NQ positions; this figure drops to 83% when factoring in those who rejected offers. The 83% rate compares to an average retention rate of only 75% for the same time last year.  

The 83% average was brought down by a few firms with significantly lower retention rates. Hogan Lovells, for example, is to retain 30 or 31 of its 54 March qualifiers, resulting in a rate of 57%; while CMS Cameron McKenna, SJ Berwin and Wragge & Co have retention figures of 61%, 67% and 71% respectively, when comparing accepted offers with the number of trainees.

Of the top 30 firms, 10 have only one trainee intake per year and therefore do not have spring retention rate figures.

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