Baker McKenzie has announced it has increased its newly-qualified lawyer salaries in London to £118,000. Trainee salaries at the firm are understood to be remaining at their current rates of £50,000 for first year trainees and £55,000 for second years trainees. NQ pay has risen from £110,000, with the changes applying from 1 July 2023. […]
Pinsent Masons has boosted equity partner remuneration by around 13 per cent, while keeping pay rises for all other groups of staff at well below inflation. Last week, the firm completed a compensation review in which equity partners received a £2,500 per point pay rise. The hike took the value of a point to £21,400, […]
DLA Piper has once again increased pay for its newly-qualified lawyers (NQs), with rises for both its London cohort and those practising in the regions, The Lawyer can reveal. As of September 2023, all NQs will receive a 5 per cent increase in salary. For those in London, that means a hike from £95,000 to […]
Hogan Lovells is the latest firm to join the likes of A&O and Linklaters in hiking its newly-qualified solicitor pay, The Lawyer understands. Newly-qualified solicitor pay in London is set to rise by 12 per cent from £107,500 to £120,000. Birmingham NQs will be paid £75,000, an increase of £5,000. Pressure on firms to meet NQ […]
Macfarlanes is the latest City firm to reveal it is increasing its newly-qualified solicitor salaries. The firm has upped its pay for NQs to a base salary of £115,000, plus individual and firmwide bonuses. Previously Macfarlanes paid out £107,500 to its most junior lawyers, with the latest increase representing a rise of 7 per cent. […]
While Allen & Overy and Linklaters have decided to bring their newly-qualified lawyer salaries level with their magic circle rivals, Slaughter and May has decided to keep its rate the same. Slaughters holds two reviews throughout the year, with any changes being announced in May and November. The firm’s review is understood to have been […]
Allen & Overy has joined Linklaters in hiking its newly-qualified solicitor pay, despite the pair last year deciding not to match rates announced by Freshfields and Clifford Chance. A spokesperson for A&O told The Lawyer, “We have increased our NQ salaries to £125,000 p.a. in line with the market.” Earlier today, Linklaters also upped NQ […]
Linklaters has decided to increase its newly-qualified solicitor pay, having opted last year not to match the salary hikes of Freshfields Bruckhaus Deringer and Clifford Chance. From 1 May, the firm’s NQ pay has risen from £107,500 to £125,000, equalling the rates offered by Clifford Chance and Freshfields. The latter two firms increased their rates […]
Paul Hastings has become the latest firm to increase its associate pay scale. The Lawyer understands that associates at the firm are paid in US dollars and will now be paid on the exchange rate of £1 to $1.31. Prior to this, the ratio was set at £1 to $1.38. The changes mean that associates […]
Milbank has become the latest firm to increase its associate pay scale, including salaries for newly-qualified lawyers. Associates at the firm are paid in US dollars and it is understood they will now be paid on the exchange rate of £1 to $1.29. Prior to this, the ratio was set at £1 to $1.39. The […]
Skadden Arps Slate Meagher & Flom has become the latest firm to increase its newly-qualified lawyer salaries. The Lawyer has learnt that the US firm’s London office has risen the rate from £157,000 to £165,000, representing an uptick of 5 per cent. Over in the US, the most junior group – the class of 2022 […]
A leading commercial chambers has become the first magic circle member to boost its pupillage award to £80,000 amid fierce competition for new barristers. One Essex Court will increase its pupillage award from £75,000 to £80,000 for those starting their training in October 2024 or 2025, The Lawyer understands. One Essex Court’s pupils also receive […]