Retention rate round-up: firms confirm how many Spring 2015 qualifiers they will keep
updated on 10 February 2015
Over 10 firms have now confirmed how many of their Spring 2015 qualifying cohort will be retained.
Of the magic circle, all but Clifford Chance have published their retention rates; Allen & Overy was top of the table with 93%, as it keeps 43 of 46 trainees as qualified lawyers. Linklaters can boast a retention rate of 91%, Slaughter and May announced 88% and Freshfields retained 85%. So far the only firm to confirm a 100% retention rate is White & Case, as reported by The Lex 100. The firm will keep all 13 spring qualifiers at the firm. Meanwhile, Osborne Clarke takes on eight of nine trainees as newly qualified solicitors (NQs), with three in the London office, three in Bristol and two in the Thames Valley office.
Lawyer2B reports that Mayer Brown will retain three of four trainees, while two of Addleshaw Goddard’s four trainees will stay as NQs with the firm. Finally, Herbert Smith Freehills, Reed Smith and Trowers & Hamlins have also announced their retention rates at 93%, 92% and 82% respectively. Speaking to Legal Business, Lucy Crittenden, graduate recruitment manager at Reed Smith, commented: "We're pleased to maintain a high trainee retention rate this spring. The quality of our trainees has been consistently high and the retention rate reflects both that and our philosophy of recruiting the best talent to retain on qualification".
Make sense of the statistics using LC.N insight, to compare firms’ retention rates year-on-year, as well as advice on why retention rates are not always the be-all-and-end-all of law firm research.
