Despite the wave of redundancies and poor financials of late, firms are still posting high retention rates of junior lawyers who can almost all breathe a sigh of relief this coming September. However, not every firm has been as generous this year as they were last summer – a sign that supply is still outstripping demand in many areas.
The latest is Magic Circle firm Linklaters which yesterday (31 July) announced a retention figure of 87%, equating to 47 offers (of which all were accepted) out of 54 trainees. This figure is up considerably on last summer, where the rate fell to 79%.
