Baker & McKenzie boasts 93 per cent NQ retention rate

Baker & McKenzie has come forward as the first major law firm to confirm its newly qualified (NQ) retention rates for March 2010, offering jobs to 93 per cent of its trainees.

The global law firm has handed jobs to 14 out of 15 of its March 2010 qualifiers. The result beats the firm’s March and September NQ retention rates for 2009, which were 80 per cent and 77 per cent respectively.

Partner and trainee principal Monica Kurnatowska (pictured) said: “We invest heavily in recruiting strong trainees and in providing training and development to help them reach their full potential. Our priority is always to retain the best talent and these numbers reflect this.”

The NQs will be joining Baker & McKenzie’s banking, corporate, competition, dispute resolution, employment, intellectual property, IT and pensions departments.

Earlier this year it was reported that Freshfields Bruckhaus Deringer kept on 70 per cent of its Autumn 2009 qualifiers while Norton Rose retained 83 per cent, the equivalent of 20 out of 24.

Elsewhere, Allen & Overy offered jobs to 48 out of the 62 trainees who qualified in September giving the magic circle firm a retention rate of 77 per cent. Meanwhile, Berwin Leighton Paisner posted a retention rate of 68 per cent after deciding to retain 15 out of its 22 newly qualified lawyers.

LG kept on just nine of its 21 September qualifiers, which translates to 43 per cent.

A handful of firms, however, reported 100 per cent retention rates, including Bird & Bird and Cleary Gottlieb Steen & Hamilton.