Bumper retention rates point to City optimism

Trainee retention rates - a key indicator of market sentiment - have risen across all the magic circle firms, with an average 91% of trainees being taken on as newly qualified associates this autumn. 

Freshfields Bruckhaus Deringer reported the highest autumn retention rate of 93%, 10 percentage points more than last year. Meanwhile Linklaters’ retention figure leapt from 73% to 91%.

On average, the five firms each had 45 trainees of which 41 were taken on.

Freshfields’ trainee development partner Craig Montgomery said: ‘We are very pleased to be keeping on a high proportion of our August 2019 qualifying intake, reflecting the firm’s continued commitment to recruiting, developing and retaining top talent.’