Third magic circle firm to reveal its retention rate
Allen & Overy has announced 82% of its spring qualifiers will be staying on at the firm.
The third magic circle outfit to put its spring retention stake in the ground, Allen & Overy has revealed that 31 of its 38-strong intake have committed their future to the firm.
Thirty-six trainees applied for full-time associate positions at the firm, and from these 32 offers were made. This equates to an offer rate of 89%. Thirty-one offers were accepted, equalling a final 2017 spring retention figure of 82%. The firm does not announce in which departments these fresh-faced associates will end up.
Today’s result nestles Allen & Overy comfortably in the middle of its magic circle rivals. Slaughter and May posted a perfect 100% spring retention score late last year, while Clifford Chance has kept just 67% of its newly-qualified lawyers (NQs).
The firm’s 82% score is broadly in line with other retention rates its enjoyed in previous years. Last autumn, the commercial heavyweight retained 86% of its NQs. In the spring before that, it kept on a magical 91%.
Commenting on today’s result, James Partridge, partner and training principal at Allen & Overy, said:
This is a good result and we’re pleased that we continue to retain the excellent talent that we attract. We’re fortunate to have such a strong pipeline of talented lawyers coming through and we’re looking forward to seeing their careers continue to develop.
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