Allen & Overy (A&O) has announced it will retain 86% of its trainee cohort this September, marking the second consecutive annual increase after a dip in 2013. 

Out of the 44 total, 42 applied for jobs. Jobs were offered to 41, an offer rate of 98%, and 38 accepted.

In 2013, the firm's autumn retention rate dropped from 79% to 72%. In 2014, the firm bounced back to retain 82% of the autumn cohort.

However the rate is a dip on its spring intake, with the firm earlier this year announcing it had retained 93% of its spring intake of qualifying trainees. 

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.

Linklaters has also unveiled a rate of 84% down from 93% last year. Out of a total of 55, the firm offered jobs to 46 and they all accepted.

The firm said two trainees resigned as they were relocating to another country and another trainee was considering leaving law.

The majority of the group (8) will join the firm's capital markets practice, followed by litigation (7) and banking (6). 

Earlier this year, Linklaters posted a 91% spring trainee retention rate. It said 51 qualifying trainees had applied to stay at the firm and 49 had been offered a place, all of which had accepted.

A&O and Linklaters are the last magic circle firms to announce their autumn results.

Last week, Clifford Chance (CC) announced it is keeping on 96% of its trainees in September, topping the rates announced so far this year by the magic circle.

Freshfields Bruckhaus Deringer also announced that it has retained 83% of its autumn qualifying trainees. It offered places to 43 (90%) trainees, with two of these turning down the offer.

Meanwhile, in July Slaughter and May announced it was keeping on 89% of its cohort of trainees in September.