Freshfields holds on to 85% of spring qualifying trainees
Magic circle firm offers 91% of trainees a post as it becomes first of the UK's most prestigious firms to reveal its spring retention rate
January 29, 2015 at 10:21 AM
2 minute read
Freshfields Bruckhaus Deringer has held on to 85% of its spring 2015 qualifying trainees, an increase of five percentage points from the 2014 spring qualifying intake.
The firm made offers to 44 out of the 48 trainees that joined the firm in February 2013, who will qualify this spring, a rate of 91%. Three trainees declined their offers, resulting in a total of 41 trainees staying with the firm.
The intake is larger than the round that qualified in spring 2014, in which 36 of the 44 trainees were offered roles with the firm. At that time, the firm reported an overall retention rate of 80% after all but one accepted the offer.
Freshfields' retention rate ticked up to 82% for the firm's August 2014 intake of qualifying trainees where 37 of the 45 strong intake accepted places with the firm.
Freshfields' steady increase in intake bucks the trend across the magic circle firms where intake fell 17% between 2010 and autumn 2014.
Last spring, Slaughter and May posted the strongest retention rate of the magic circle, with 95% of its 40 trainees moving on to become newly qualified (NQ) lawyers at the firm.
White & Case also posted its retention rate this week, with all of the firm's 13 London trainees, who are due to qualify in February 2015, accepting positions at the firm.
Meanwhile, Trowers & Hamlins announced that it will be retaining nine of its eleven trainees who are set to qualify in March 2015 – a retention rate of 82%.
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