Allen & Overy will keep on 82% of its Spring-qualifying trainees. The Magic Circle firm has made offers to 32 of its 38 trainees, of which 31 have accepted.
Although 82% is a respectable retention rate, it's slightly lower than the firm has achieved over the last couple of years. It kept on 86% last autumn, 91% last spring, 86% in autumn 2015 and 93% in spring 2015. The firm has consciously shrunk its intake over that period, with 38 trainees in the current March cohort compared with its brood of 46 trainees two years ago.
The trainees will qualify on £78,500. Which is decent wedge, though £6.5k less than peers at Freshfields and Clifford Chance, and like the rest of the Magic Circle not in the same ballpark as US firms.
The firm put in a so-so performance in the RollOnFriday Firm of the Year survey coming 34th out of the 66 firms, with a score of 66%. It has its perks. One respondent from A&O said "it's rare that you come across lawyers on the other side who are better than you and your colleagues".
||An A&O lawyer taking your call, yesterday