Magic circle firm Clifford Chance has released its retention rates for autumn 2015, which at 96% is the highest figure amongst its fellow magic circle firms Freshfields and Slaughters who are the only two to have already released their figures. This means 45 of the 47 trainees will be staying with the firm, although the firm has not disclosed any more information about the location of these trainees or their chosen practice areas. Clifford Chance managing partner David Bickerton recently stated that they would be taking on 10 more trainees upon the next recruitment year in order to cope with the increasing workload. The high retention rate contrasts that of autumn 2014 where only 75% of trainees remained at the firm. However, in spring 2015 91% of trainees stayed at the firm, indicating its been an excellent year to be a trainee at Clifford Chance.
American powerhouse Mayer Brown has also released its retention rate for autumn 2015. At only 55%, it is in stark contrast to its American cohort, with firms such as Jones Day, Sullivan & Cromwell, White & Case and Weil all posting 100% retention rates. The firm offered 10 contracts to 11 of its trainees with only six willing to accept these and a seventh being employed on a short term basis. Mayer Brown’s retention rates are the lowest released thus far for autumn 2015.