34 of 44
A&O Shearman has held onto 34 of its 44 newly qualifying trainees this autumn, working out at a retention rate of 77%.
All the NQs staying on are in permanent roles.
The result follows a similar showing in spring, when 32 of 42 qualifiers stayed on for a score of 76%. Taken together, the two rounds suggest the firm’s retention numbers have stabilised.
That’s a welcome change of pace. Since its blockbuster 2024 merger, A&O Shearman’s retention rate has been on a rollercoaster: down to 66%, up to 84%, then back down to 69%. The swings largely reflect the firm managing a bigger-than-usual qualifying cohorts in the wake of the tie-up, as the merged outfit worked out how many rookies it needed to keep on.
The retention news lands just weeks after the firm posted a 12% jump in profit per equity partner, with partners pocketing an average of £2.2 million, even as overall revenue stayed largely flat.