Clifford Chance is retaining 80% of its trainees qualifying this Spring, well down on last year's rates and near the bottom of the table so far, while Linklaters is keeping 83%.
Links made offers to 49 of the 54 trainees in its intake, four of whom turned it down. The result is broadly on a par with Linklaters' last retention rate, 84% in Autumn 2015, but is significantly lower than last Spring's 91%.
Meanwhile, Clifford Chance made offers to 43 of its 54 trainees, all of whom accepted. CC's 80% rate is the worst of the Magic Circle. In the context of the field so far, which is full of healthy results, Clifford Chance's effort lands near the bottom, just above BLP's weak 70%.
Clifford Chance is retaining about the same number of trainees as it has in recent intakes (45 in Autumn 2015, 41 last Spring), although its latest retention rate is significantly lower than the 91% and 96% rates posted last year. By contrast, and like Allen & Overy, Linklaters is retaining its smallest number of trainees in years, reflecting a gradual decline in the size of the firm's annual intakes. 45 is its lowest number of NQs it has retained since records began (well, 2009).
Linklaters recently unveiled a good-looking new pay and holiday package for its lawyers, news broken by RollOnFriday. Hopefully the trainees who decided not to stick around were made aware of it before they flipped HR the bird.
In a statement, Linklaters partner Nick Rumsby carefully ignored the lower rate and NQ headcount, saying, "After a number of years of consistently strong retention rates we are pleased to retain so many high quality lawyers from our March qualifiers".
Tip Off ROF
Links made offers to 49 of the 54 trainees in its intake, four of whom turned it down. The result is broadly on a par with Linklaters' last retention rate, 84% in Autumn 2015, but is significantly lower than last Spring's 91%.
Meanwhile, Clifford Chance made offers to 43 of its 54 trainees, all of whom accepted. CC's 80% rate is the worst of the Magic Circle. In the context of the field so far, which is full of healthy results, Clifford Chance's effort lands near the bottom, just above BLP's weak 70%.
Clifford Chance is retaining about the same number of trainees as it has in recent intakes (45 in Autumn 2015, 41 last Spring), although its latest retention rate is significantly lower than the 91% and 96% rates posted last year. By contrast, and like Allen & Overy, Linklaters is retaining its smallest number of trainees in years, reflecting a gradual decline in the size of the firm's annual intakes. 45 is its lowest number of NQs it has retained since records began (well, 2009).
Linklaters recently unveiled a good-looking new pay and holiday package for its lawyers, news broken by RollOnFriday. Hopefully the trainees who decided not to stick around were made aware of it before they flipped HR the bird.
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"Why did I slap everyone on the way out?" |
In a statement, Linklaters partner Nick Rumsby carefully ignored the lower rate and NQ headcount, saying, "After a number of years of consistently strong retention rates we are pleased to retain so many high quality lawyers from our March qualifiers".
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