Addleshaws, SJB, Mills & Reeve post mixed NQ retention rates

Addleshaw Goddard has revealed a steady newly-qualified (NQ) retention rate on September 2010 results, keeping 86 per cent of its trainees.

The top 20 law firm has confirmed it is retaining 31 out of 36 of its autumn 2011 qualifying trainee solicitors. The firm also held onto 86 per cent of its March qualifiers, keeping 6 out of 7 trainees.

SJ Berwin, meanwhile, posted 88 per cent retention rate, keeping 15 out of its 17 September qualifying trainees. This reveals a slight improvement on 2010 results, where it confirmed 87 per cent, holding onto 27 of its 31 NQs.

Elsewhere, Mills & Reeve confirmed one of the lowest retention rates, with eight trainees accepting NQ roles with the firm out of a total of 22 trainees. This revealed a retention rate of just 36 per cent.

In a statement from Mills & Reeve a spokesperson said: “We are disappointed and sorry not to be able to offer more of the 2009 intake positions, as they are a highly talented group of lawyers and we have invested significantly in them.

“This combination of slower growth and loyalty from our other lawyers means that we are only able to offer eight of our second year trainees positions once they qualify in September. We hope that this will be an unusual year. We have had good retention rates previously. Last year we had a retention rate of 91%.”

The news follows Linklaters becoming the final magic circle firm to reveal its retention rate of 93 per cent, keeping 53 out of 57 trainees. (See story)

Out of the top 10 Slaughter and May remains the strongest performer as the only firm as yet to post a 100 per cent NQ retention rate. It was closely followed by Freshfields Bruckhaus Deringer, which retained 96 per cent, DLA Piper takes the fourth spot after Linklaters with a retention rate of 90 per cent. Meanwhile, Clifford Chance, Eversheds and Herbert Smith posted results of 83, 87 and 80 per cent respectively.