Linklaters retains 80 per cent of September NQs

Linklaters has offered jobs to nearly 80 per cent of its trainees, the highest retention rate in the magic circle.

The firm retained 50 of the 66 trainees due to qualify in September 2009, but as three trainees resigned during the qualification process it has actually retained 50 out of 63. That equates to a retention rate of 79 per cent.

The other two magic circle firms to release their retention rates, Freshfields Bruckhaus Deringer and Clifford Chance, have both kept on around 70 per cent of trainees (29 June 2009).

Allen & Overy has warned that its figure is likely to be around the 70 per cent mark.

All three firms have seen trainee retention plummet during the last year, with more than 80 per cent of September 2008 qualifiers offered positions.

Slaughter and May plans to keep on 47 of the 50 newly qualified (NQ) solicitors due to qualify in September 2009  a slight improvement on last year’s figure of 92 per cent.

In terms of smaller firms, Farrer & Co has joined Bird & Bird and Cleary Gottlieb Steen & Hamilton in the 100 per cent club after offering jobs to all 10 of its September 2009 qualifiers.

Meanwhile, Norton Rose has reported a retention rate of 83 per cent after offering jobs to 20 out of 24 NQs. This is a slight drop from last September’s figure of 90 per cent.