Bakers, A&O reveal NQ retention rates

Baker & McKenzie has managed to achieve a 95 per cent newly qualified (NQ) retention rate for September 2010, giving it the highest score so far.

The global law firm has handed jobs to 20 out of 21 of its autumn qualifiers. The result beats the firm’s March 2010 and September 2009 NQ retention rates, which were 93 per cent and 77 per cent respectively.

Partner and trainee principal Monica Kurnatowska said: “Our high trainee retention rate reflects both the quality of our trainee population and our confidence in the business.”

Meanwhile, magic circle firm Allen & Overy (A&O) has offered jobs to 50 out of 62 trainees due to qualify in September giving it a retention rate of 80 per cent. This figure is slightly lower than in Spring 2010 when A&O achieved a retention rate of 87 per cent (read more).

Trainees at Bakers have been offered roles in corporate, corporate tax, banking, dispute resolution, employment, employee benefits, environment, EU competition & trade,  IT/com and pensions.

The only other firm to come close to Bakers’ impressive NQ rate so far has been Shearman & Sterling, which has revealed that it is retaining 92 per cent of its NQs.

The fellow US firm has confirmed that it will be taking on 11 out of the 12 trainee solicitors who are due to qualify in September 2010 (see story).