Allen & Overy holds on to 79 per cent of September qualifiers

Allen & Overy has become the final magic circle firm to reveal its newly qualified (NQ) retention rates for autumn 2012.

The firm is holding on to 46 out of 58 of its qualifying trainee cohort, giving it an NQ retention rate of 79 per cent.

The result marks a slight boost from the firm’s September 2011 qualification round, when it kept 38 out of 53 trainees, leaving it with a 72 per cent retention rate.

Meanwhile, rival magic circle firms Clifford Chance, Freshfields Bruckhaus Deringer and Linklaters posted NQ retention rates of 77, 89 and 78 per cent respectively (10 August 2012).

The news comes after Nabarro posted an NQ retention rate of 69 per cent, holding on to nine out of 13 trainees (20 August 2012). It offered jobs to 11 qualifiers.

Elsewhere, Scottish firm MacRoberts announced the lowest NQ retention rate to date, at 18 per cent, with two out of 11 qualifiers accepting roles at the firm (17 August 2012).