Trainee retention figures released by top firms
27 January 2012
Trainee retention results for March have started to be released and, despite widespread fears about the fragility of the economy, it currently looks like a pretty good round.
A rare perfect score was achieved by SJ Berwin
, which will keep all eight of its March NQs. That's particularly good given its not-very-impressive 67% score last time round.
Amongst the Magic Circle, Allen & Overy
scored well with 89% (51 out of 57 trainees remaining with the firm) and would have hit the magic 90% had one associate not spurned the firm's offers. The figure marked a return to form, the firm having posted only 72% last September
didn't do too badly either with a score of 85% (41 out of 48).
||Some happy trainees. Weeping unemployed NQs not pictured.
Next up is Berwin Leighton Paisner
where 88% of trainees will stay with the firm. Which is fortunate given the number of gaps in the banking department
that need plugging. Stephenson Harwood
, will keep five out of six qualifiers (83%), and Norton Rose
retains 18 of its trainees, a rate of 78% - that's 10% down from last September.
But for every small glass of sparkling wine quaffed before returning to the serious business of billing, there's normally also a cup of cold tea. And there are rumours that at least one big firm will be retaining under half its trainees, and possibly as low as 20%.
You can send in your firm's trainee retention numbers - good or bad - here
UPDATE: Clifford Chance's
figures are just out. Notching up the worst Magic Circle score so far, CC is taking on 39 out of 51 of its trainees, giving it a score of 76%.