Clifford Chance has become the latest law firm to post a recovery in its newly qualified lawyer (NQ) retention rates.
The magic circle firm is holding onto 43 out of 52 Autumn 2011 qualifiers giving it a retention figure of 83 per cent. This is a major improvement on Clifford Chance’s Autumn 2010 results when the firm retained 58 out of 74 NQs, which translated in a rate of 79 per cent.
But Clifford Chance’s latest retention figures fell short of what the firm achieved in Spring 2011, when it posted a 91 per cent retention rate after keeping 52 out of 57 NQs (read more).
However, Clifford Chance beat rival magic circle firm Allen & Overy, which posted a disappointing retention rate figure of just 72 per cent (full story).
Clifford Chance, however, lags significantly behind Slaughter and May, which announced it is keeping 100 per cent of its Autumn 2011 qualifiers, although it trumped Hogan Lovells, which only achieved a 73 per cent retention rate.