Allen & Overy is the first firm to reveal its trainee retention for spring 2014, posting a rate of 84 per cent.
Of 49 qualifying trainees, 41 trainees will take up newly-qualified (NQ) positions with the firm. A&O offered 42 trainees roles after 45 applied. One trainee chose not to take up the offer.
The retention rate is up from 72 per cent in the autumn of 2013, when 39 of 54 trainees were kept on as NQs in the firm’s London and overseas offices. In spring 2013, it retained 37 of 53, a retention rate of 70 per cent.
Allen & Overy has reduced its trainee intake by 30% since the start of the recession in 2008. From highs of recruiting 120 trainees annually, in August it announced that from 2015 it will reduce its intake to 85 (15 August 2013).
Graduate recruitment partner Richard Hough said at the time: “We aim to recruit for the long-term as well as providing a high quality training contract. Managing our intake numbers means that we aren’t just offering our trainees excellent training and experience, but also a strong prospect of a long-term career with the firm after qualification.”
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