Clifford Chance (CC) has become the latest magic circle firm to reveal its spring retention rate, announcing it will keep on 94% of its March 2014 intake of newly qualified (NQ) lawyers.

The magic circle firm has offered roles to 45 of 48 potential NQs, with all of them accepting positions.

The result is up on the same point in the previous year, when the firm kept on 82% of the lawyers that applied to qualify.

Last year, CC offered 55 of its 66 trainees a role at the firm. Of those, 54 accepted a position to become newly qualified lawyers.

Both rates were up from its autumn 2013 intake figures, when CC kept on 80% of its NQs, after 48 of its 60-strong cohort accepted jobs at the firm, out of 51 who were offered a role.

Allen & Overy (A&O) became the first of the magic circle firms to announce spring retention rates when it reported last month.

A&O is set to keep on 84% of its NQ lawyers after offering roles to 42 to 49 of its total trainee intake, of which 45 trainees that applied to qualify. Of these, one chose not to accept a position.

Both magic circle firms have said they are trimming back the number of trainees they are taking on from 2015. CC has said it plans to take on 100 trainees next year, down from its previous target of 120, while A&O will recruit 85 trainees every year from 2015, down from the current annual intake of 90.