Slaughter and May has become the first magic circle firm to announce its autumn trainee retention rate, with the firm retaining 89% of its cohort of trainees.

The firm confirmed today (July 16) that two trainees, out of the total 37, withdrew from the process before the qualification offers were made. It made offers to all of the remaining 35 and two opted to decline a role at the firm.

The autumn retention rate is a sharp drop compared to 2014 when the firm retained 97% of its autumn qualifying trainees, with only one turning down the offer to become a newly qualified lawyer.