Clifford Chance's retention rate falls to 76 per cent
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Clifford Chance’s latest newly qualified (NQ) retention rate has dropped to 76 per cent for March 2012.
The magic circle firm has announced it is keeping just 39 of its 51 spring qualifying trainees.
This reveals a significant fall from its spring 2011 retention rate, where the firm achieved an impressive 91 per cent, holding onto 52 of its 57-strong cohort (28 January 2011).
Meanwhile, the firm posted 83 per cent retention rate for its September 2011 qualifiers, retaining 43 out of 52 trainees (22 Juy 2011).
The news follows Allen & Overy and Freshfields Bruckhaus Deringer both posting 89 per cent retention for spring 2012. A&O is keeping 51 of its 57 trainees solicitors, while Freshfields is holding onto 41 out of 46 (24 January 2012).
Readers' comments (2)
Anonymous | 27-Jan-2012 12:25 pm
Eek!
Still a massive 40% more than Dickinson Dees & Mills n' Reeve.
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Realist | 1-Feb-2012 9:08 pm
With a disastrous economy and the advent of ABSs, it is likely that there will be tightening up of loose cummerbunds at law firms with the likelihood that fewer trainees will be taken on in due course/now. Prospective trainees should look to train with companies in-house or go for the NY bar qualified lawyer transfer test route.
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