Freshfields Bruckhaus Deringer and Norton Rose Fulbright have become the latest City firms to reveal their retention rates, with both posting a slight decline on their spring 2016 rates.
Magic circle outfit Freshfields retained 31 out of 37 trainees, an 84% retention rate. This is two points down on March 2016, when it made 33 offers to 38 trainees with 31 accepting a role.
Norton Rose Fulbright retained 83% of its trainees this time around. The firm said that out of 24 trainees, 20 were made an offer, all of which were accepted.
In 2016, however Norton Rose retained 96% of its cohort. From 23 trainees, 22 offers were made, all of which were accepted.
Meanwhile, Linklaters posted an 86% retention rate this time around. From a cohort of 51, there were three resignations and 44 trainees taken on.
In March last year 83% of trainees were handed a contract.
Richard Hodgson, trainee solicitor partner at the firm, said: ‘We are thrilled to announce such an impressive retention rate from our March qualification round. This figure demonstrates our consistency in producing great results when it comes to developing and retaining the future of our firm.’
Last month the Gazette reported that Clifford Chance, Hogan Lovells and Herbert Smith Freehills were among the firms to post a drop in their retention rates compared with the same period last year.