Linklaters is retaining 46 of its 59 qualifying trainees for this autumn round, posting a retention rate of 78 per cent.
No qualifiers will be kept on fixed-term contracts (FTC) unlike the previous round this year where one was offered an FTC.
Eleven of the qualifiers were also part of the cohort transferred over from Russia when the firm closed its Moscow office in 2022.
Chris Stevenson, trainee development partner at Linklaters, commented: “Congratulations to our new qualifying trainees on this milestone and who are advancing their careers with us at Linklaters. This is an exceptionally talented group of junior lawyers who have already demonstrated dedication, resilience and remarkable skill.
“We are all looking forward to their continued success.”
Linklaters’ retention has fallen since spring last year amid a tricky market for NQ positions. In 2023, retention fell from 94.2 per cent in the spring to 85.7 per cent in the autumn.
This year, retention has dropped from 83.7 per cent in the spring to 78 per cent for this autumn round.
As the last Magic Circle firm to announce its autumn retention rate, Linklaters ranks third within its peer group. Freshfields Bruckhaus Deringer posted the highest with 86 per cent, and Slaughter and May came in second with 84 per cent.
Linklaters pipped Clifford Chance to the post which posted 75 per cent, followed by A&O Shearman which retained 66 per cent in its first qualifying cohort as a merged firm.
The firm also recently boosted its compensation package for trainees and newly-qualified solicitors earlier this year. Linklaters was the first Magic Circle firm to match Freshfields at £150,000 in May, from £125,000. Clifford Chance and A&O Shearman swiftly followed suit, with Slaughter and May still hanging in the balance.
