Forget the Goldman Sachs bonuses. Perhaps the biggest sign that the City is weathering the financial storm is today’s news that Linklaters is retaining almost 80 per cent of its trainees (see story).
Granted, this pales in comparison with Slaughter and May’s extraordinary rate of 94 per cent, but then Slaughters is about as recession-proof as Goldman has proved to be.
Spookily, Linklaters’ retention rate matches Freshfields’ almost exactly. We’re not saying Links is playing Single White Female with Freshfields – although, is it just us, or have their lawyers started dressing the same? – but the arms race between the pair shows no sign of letting up.
Still, neither Linklaters nor Freshfields has quite matched this week’s Top Firm – our capitals – Bird & Bird. As we reported, the tech titan posted a whopping 30 per cent increase in revenue yesterday (see story) and a trainee retention rate of 100 per cent (see story).
Like Goldman, some firms just seem to have developed the knack of doing okay, whatever the weather.