City firms reveal trainee solicitor retention rates for autumn
updated on 26 August 2016
One magic circle outfit and a trio of US-headquartered firms have revealed how many of their qualifying trainees are being retained as newly qualified (NQ) solicitors this autumn.
Magic circle firm Linklaters has revealed that it is keeping on 51 out of 56 trainees due to qualify this autumn – a retention rate of 91%. The firm also said that the five people leaving for pastures new did not apply for NQ positions.
Meanwhile, Legal Cheek reports that US firms Cleary Gottlieb and Covington Burling are both retaining 100% of their qualifying trainees (Cleary’s intake consisted of 14 trainees and Covington & Burling’s was made of up of seven). Fellow US-headquartered firm K&L Gates is retaining six out of seven NQs – a retention rate of 86%.
Firms’ retention rates are worth bearing in mind when applying for training contracts, but they are far from the whole story – read Matthew Broadbent’s analysis of what firms’ trainee solicitor retention rates really mean.
