Linklaters is to retain 49 of its current trainee intake, representing a 79% retention rate after 62 applied for a newly-qualified role at the firm.

Of the 67 trainees due to qualify from the current intake, five resigned before the application process commenced.

The retention rate of 79% is down from a September 2008 peak of 94%, with the number falling during 2009 to 84% in March and 82% in September.

Linklaters trainee partner Simon Firth (pictured) commented: "Our retention is below what we would like it to be, but I would expect it to be higher next time round. You have to balance the short and long-term needs of the business in order to maintain the right size and shape."

The magic circle firm is the second of the elite group to release its retention figures, after Allen & Overy found jobs for 87% of its March 2010 qualifying intake, marking an increase on its projected retention rate of 70%.

The firm offered roles to 55 of the 63 trainees who applied, from a total intake of 66 – a slight decrease on last year, when the firm retained 91% of its newly-qualified trainees.