Wragges, Macfarlanes & Reed Smith reveal spring NQ retention rates

Wragge & Co has achieved a 100 per cent Newly Qualified (NQ) retention rate for spring 2012.

The Birmingham-based law firm has announced it is keeping all six of its March qualifying trainee solicitors, revealing a boost from its September 2011 results.

For September 2011 the firm’s retention rate fell to 72 per cent, keeping only five out of seven qualifying trainee solicitors.

The firm posted 86 per cent retention in spring 2011, keeping on six out of a cohort of seven.

Meanwhile, Macfarlanes NQ retention rate plummeted to 40 per cent, with only two trainees accepting positions at the firm. However, one person chose not to apply for an NQ role.

The result is a significant decrease from previous qualifying rounds, with 22 out of 24 of its September 2011 qualifying trainees giving it a 92 per cent retention.

Elsewhere, Reed Smith is keeping just 56 per cent, holding onto only nine out of 16 qualifying trainee solicitors for the March 2012 qualifying round.

This reveals a large drop compared to the same point in 2011, where the firm achieved 94 per cent, with 15 out of 16 trainees accepting NQ roles.