City firm Ashurst has posted an excellent spring result of 91%. From a group of 23 trainees qualifying this March, 21 offers were made, all of which were accepted. Ashurst posted even better figures this time last year, with 23 of its 24 (96%) spring 2014 qualifiers taking up NQ positions at the firm.
Albeit with a smaller intake, TMT leaders Olswang has also published a healthy retention rate of 87.5%. Seven of the firm’s current second-year cohort of eight will remain at the firm post-qualification.
Meanwhile, international firm Hogan Lovells has fared less well. From a spring qualifying group of 32 trainees, 26 offers were made with only 21 acceptances. This gives a total retention rate of 66%, which could yet rise to 72% as a result of two international offers currently outstanding.
***12/03/15 Update: The two international offers were accepted (albeit one on a three-month contract), total Hogan Lovells retention rate now 72%.***
David Moss, training principal at Hogan Lovells, acknowledged the low retention, saying: “Our retention rate for those who qualified in March is not as high as we had hoped. We offered more places than people qualifying, but the roles on this occasion were not always in areas that our people wanted. The majority of those leaving us did so to work in practice areas where we were not hiring.” He went on to stress the firm’s current growth in corporate and finance, adding that this is where most Hogan Lovells trainees will spend the majority of their time, and where most qualification vacancies are likely to arise.