UK Traineeships fall among magic circle as retention rates rise
Compared to five years prior, the number of UK trainees has fallen by 17% among Magic Circle firms. Clifford Chance and Allen Overy led the statistical drops with 25 and 23% drops, respectively in the given period. Linklaters and Slaughters posted statistical drops near 15% while Freshfields remained stable with a negligible drop. The drop in trainee numbers is not unexpected. Clifford Chance and Allen Overy have both previously announced planned reductions in its trainee positions, owing to its market projections for English qualified lawyers in the next few years.comments powered by Disqus
Retention rates have improved, however. After small drops in 2011 and 2012 of 4 and 3%, the magic circle firms averaged a 6% increase this year at 87%. Slaughters posted the best rate of 96% with Linklaters in second place, above the average at 90%.