Allen & Overy keeps 93% of its spring 2015 trainees
Every newly qualified trainee offered a position at the firm accepts, beating the acceptance rate at Freshfields
January 30, 2015 at 08:04 AM
2 minute read
Allen & Overy (A&O) has retained 93% of its spring intake of qualifying trainees, the firm announced today.
Forty-five trainees out of the 46 who qualified this spring applied to stay at A&O.
Jobs were offered to 43 of the trainees, an offer rate of 96%. All of the 43 accepted, resulting in an overall retention rate of 93%.
The firm's spring intake in 2014 was one smaller than this year's and fewer trainees (84%) took up newly qualified positions with the firm.
The firm has said it plans to recruit a total of 85 new trainees per year from 2015. The cut is the third time in four years A&O has announced a reduction in its trainee intake.
The firm's intake of new trainees fell by 23% between 2010 and 2014.
However, Slaughter and May and Freshfields Bruckhaus Deringer both took on fewer new trainees than A&O last year. The rival magic circle firms took on 74 and 93 respectively, compared to the 99 trainees taken on at A&O.
Freshfields reported its spring 2015 retention rate yesterday. It kept 85% of its 48 trainees, after offering positions to 44 of them, which three trainees declined.
A&O's retention rate for last autumn's intake of qualifying trainees was 82%, a rate that was the same as Freshfields and higher than Slaughter and May, which posted a rate of 75% – the lowest of all the magic circle firms.
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