A&O keeps on 87% of NQs as retention rates begin to recover

Allen & Overy (A&O) has retained 87% of its March 2010 qualifying intake, marking an increase on the firm's projected retention rate.

The magic circle firm has offered roles to 55 of the 63 trainees who applied, from a total intake of 66.

The proportion is an increase on the firm's intended retention rate after it announced last year that it was likely to take on 70% of qualified trainees in both the September 2009 and March 2010 intakes.

A&O said at the time that it had not made a final decision about the retention rate, but that the figure was a "working assumption in light of the current financial climate".

This year's retention rate marks a slight decrease on last year, when the firm retained 91% of its newly-qualified trainees, awarding 51 of 56 a job at the firm.

A&O offers its training contracts around two years in advance, with around 50 trainees joining each year.

The news comes after a turbulent year for trainees at the UK's top 50 firms, with many seeing start dates and training contracts deferred as a result of the recession.

Allen & Overy on the Legal Week Wiki