The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Addleshaw Goddard has become the latest firm to beat its own retention rate record from last year, after it managed to keep hold of 86 per cent of its newly qualified (NQ) solicitors.
The national law firm has handed jobs to 32 out of 37 of its September 2010 qualifiers. The result beats the firm’s September 2009 NQ retention rates, which was just 75 per cent.
Training principal and real estate litigation partner Andrew Blower said: “Our improved and improving retention rate over the years is an encouraging trend, which reflects a strong and growing business with a genuine commitment to attracting, retaining and developing great people as well as a culture, client base and ambition that’s attractive to the very best talent.”
But Addleshaw’s score is not high enough to contend with that of White & Case, which recently posted an impressive 94 per cent retention rate after offering NQ positions to all of its 18 trainees due to qualify in September.
Other firms that have achieved a retention rate in excess of 90 per cent include Baker & McKenzie (95 per cent); Slaughter and May (93 per cent) and Shearman & Sterling (92 per cent).
The magic circle meanwhile has performed less well with Allen & Overy and Freshfields Bruckhaus Deringer posting retention rates of 80 per cent and 89 per cent respectively – although both figures are an improvement on 2009. Clifford Chance and Linklaters are yet to announce their retention rates.
The worst performer so far has been Olswang, which is shedding a whopping 42 per cent of its September 2010 qualifiers.