Linklaters has become the last of the magic circle to confirm its autumn trainee retention rates, keeping on 73% of its new qualifiers – the lowest percentage within its peer group.

The firm is keeping on 43 of its 59-strong intake as newly qualified lawyers, compared with an equivalent retention rate of 84% last autumn. 

Graduate recruitment partner Richard Hodgson said: "We are pleased to once again retain a good number of quality lawyers from our September intake. I look forward to seeing their careers progress as they pursue exciting opportunities within a best-in-class and globally minded firm."

Linklaters has the largest intake of its peers but its retention rate is marginally lower.

Freshfields Bruckhaus Deringer is keeping on 34 of its 41 September qualifiers (83%), with Allen & Overy (A&O) retaining 37 of its 46-strong cohort (80%). Slaughter and May, meanwhile, is holding on to 86% of its new starters – keeping 35 out of 37, while Clifford Chance (CC) is keeping on 36 of its 47 trainees – 77%. 

Looking at the year as a whole, Slaughter and May is the marginal frontrunner, having retained 67 of a possible 74 NQs in 2018 across its spring and autumn intakes for a 91% retention figure overall. CC and Linklaters are narrowly behind, having kept on 80 of 95, and 90 of 107 qualifiers respectively for an 84% final result.

Confirmation of the latest retention rates comes after a number of firms have boosted trainee and NQ salary rates in recent weeks. 

Last month, Freshfields and CC boosted salaries for their London trainees, with CC also pushing up total compensation for NQs up to  £91,000  from £87,300 last year. A&O's base NQ rate has risen by 2.5% to £83,000, with Slaughters opting to hold NQ pay steady at £80,000. Linklaters has yet to confirm associate pay.