Linklaters’ retention rate edges up to 87 per cent

Linklaters has posted a retention rate of 87 per cent for its autumn 2013 qualifiers.

The magic circle firm offered jobs to 47 of the 52 trainees who applied for newly qualified (NQ) positions, out of a total cohort of 54.

The results are a marginal improvement on the firm’s last few qualification rounds. In spring 2013, Linklaters retained 83 per cent of its qualifiers, keeping on 49 of 59.

In the 2012 calendar year, it retained 49 of 57 (86 per cent) in the spring and 51 of 65 (78 per cent) in the autumn.

The firm’s most recent high point for retention came in autumn 2011, when it handed NQ positions to 53 of 57 qualifiers, or 93 per cent.

The news comes off the back of the announcement that Linklaters’ global revenue figures rose by 1 per cent in 2012/13, up to £1.195bn. (5 July 2013) The firm’s profit per equity partner (PEP) also rose, by 6.5 per cent.

So far, retention rates for September 2013 qualifiers have been largely positive.

Slaughter and May revealed an 88 per cent retention rate, matching its performance last autumn. The top ten City firm offered 46 of a cohort of 51 trainees newly-qualified (NQ) positions at the firm. One trainee did not accept the firm’s offer (29 July 2013).

White & Case’s London outpost accepted 79 per cent of its qualifying trainees into NQ positions (25 July 2013) while Clifford Chance gave 48 of 60 jobs (25 July 2013), resulting in an 80 per cent retention rate. Freshfields recorded 81 per cent retention (18 July 2013), while BLP’s rate was announced as 86 per cent (19 July 2013).

Herbert Smith Freehills revealed a retention rate of 88 per cent, its highest since spring 2012 (25 July 2013). The City firm offered 30 of its 34 second year trainees NQ roles with the firm, and all accepted. Mishcon de Reya has also revealed its retention rate (25 July 2013). The firm retained six of a cohort of seven qualifiers, giving it a retention rate of 86 per cent. Finally, Mills & Reeve has revealed a bolstered retention rate of 85 per cent (29 July 2013).