Linklaters is retaining 83% of its trainees qualifying this Spring.
The firm made offers to 49 of the 54 trainees in the 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%.
It means Links has performed rather more poorly than the two other Magic Circle firms to have revealed their rates, Allen & Overy and Slaughter and May. A&O is keeping on 91% of its Spring qualifiers, while Slaughter and May is retaining 95%. In the context of the field so far, which is full of healthy results, Links' effort lands near the bottom, just above BLP's weak 70%.
Like A&O, Linklaters is also retaining the smallest number of trainees in years. It reflects the gradual decline in the size of its annual intakes. Previously, in the period from 2009, the smallest number of trainees Links retained was 49. Stat attack:
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 and danced out the building.
|"Why did I slap everyone on the way out?"
Links partner Nick Rumsby said, "After a number of years of consistently strong retention rates we are pleased to retain so many high quality lawyers from our March qualifiers".