Magic circle firm Linklaters will retain 87% of its trainees this autumn, as City firms continue to invest heavily in junior talent despite economic uncertainty.
The City firm is due to take on 46 of its 53 solicitors qualifying next month, compared with 49 out of 54 (91%) last year.
Richard Hodgson, Linklaters’ trainee development partner, said: ‘We are delighted to once again retain a high number of quality lawyers from our September qualifiers. This figure demonstrates our ongoing commitment to attracting, developing and retaining a diverse group of talented people and we look forward to seeing their careers progress at our global firm.’
All five of the magic circle firms have now announced their autumn retention rates. Allen & Overy will take on 38 out of 41 trainees (93%); Clifford Chance has retained 36 out of 46 qualifiers (76%); Freshfields will take on 32 of its 38 trainees (84%); and Slaughter and May has made 38 offers for a cohort of 41 (93%).
Retention rates have remained high across the City this reporting season, allaying fears that coronavirus would prevent newly qualified solicitors finding jobs. However, many firms have reduced NQ salaries in a drive to cut costs.