Allen & Overy has become the latest magic circle firm to reveal its trainee retention rates for the March intake. The firm will be taking on 32 of 40 trainees (80%). Of the 40-strong cohort, 33 were offered positions at the Bishopsgate headquartered firm, with all but one accepting.

The newly qualifieds will start on £81,000.

In March last year the firm retained 82% of its intake compared with 91% the year before.

A&O’s results add to strong retention rates across the magic circle this spring.

Slaughter and May has already revealed it is taking on 94% of its intake (35 of 37 trainees) while Clifford Chance is keeping 44 of 48 (92%).

James Partridge, partner and training principal at A&O, said: ’We’re pleased that we continue to retain the fantastic talent that we attract here at A&O.’