A&O has worst trainee retention in the magic circle
Allen & Overy has posted its figures for retention of trainees qualifying in September, coming in last place among the magic circle firms.
54 trainees will qualify in September, and three chose not to apply for a position. Of the 51 applicants, 45 were offered places, but only 39 accepted, giving A&O a score of just 72%, down from 79% last year.
The firm also announced that it will be cutting its annual graduate recruitment intake from 90 to 85 in 2015. As pointed out by Roll on Friday, the change is not dramatic, but it does follow a steady decline: at the height of the boom the firm took on 120 trainees a year; it currently takes 105; next year this will fall to 90; and a further fall to 85 means an overall reduction in graduate recruitment of 30%