Clifford Chance’s retention rate falls to 76 per cent

Clifford Chance’s latest newly qualified (NQ) retention rate has dropped to 76 per cent for March 2012.

The magic circle firm has announced it is keeping just 39 of its 51 spring qualifying trainees.

This reveals a significant fall from its spring 2011 retention rate, where the firm achieved an impressive 91 per cent, holding onto 52 of its 57-strong cohort (28 January 2011).

Meanwhile, the firm posted 83 per cent retention rate for its September 2011 qualifiers, retaining 43 out of 52 trainees (22 Juy 2011).

The news follows Allen & Overy and Freshfields Bruckhaus Deringer posted 89 per cent and 85 per cent retention rates respectively for spring 2012. A&O is keeping 51 of its 57 trainees solicitors, while Freshfields is holding onto 41 out of 48 (24 January 2012).