News

Ashurst latest firm to boost trainee and junior lawyer pay

By on

Gap emerging as “silver circle” firm’s pay rises fall short of top 10 rivals

Ashurst-spelling

City outfit Ashurst has become the latest law firm to raise pay for rookie solicitors, boosting trainee and newly qualified (NQ) remuneration by a relatively minor 3%.

That means first year trainee money at the so-called “silver circle” firm will increase from £39,000 to £40,000, while second year trainees will get £45,000 rather than £44,000. Wedge for NQs nudges up from £63,000 to £65,000.

The relatively small rises leave Ashurst trailing top ten rivals Slaughter and May and Hogan Lovells — which have both recently raised NQ pay to £70,000 and starting trainee salaries to £41,000.

And, as we reported earlier today, all of these firms have been put in the shade by the London office of US giant Shearman & Sterling, which has just upped NQ pay to a whopping £88,000.

That’s more than what Ashurst pays its one and two year qualified associates, who have also been granted pay rises today, meaning they’ll now earn, respectively, £72,000 and £81,000 — up from £69,000 and £77,000.

Only at three year qualified will Ashurst lawyers pull in more money than Shearman NQs — with the London firm upping pay most dramatically at this stage. An 8% rise means that Ashurst’s 3PQEs will be paid £92,000, up from £85,000.

Good going, but — for the record — still less than what NQs get at Akin Gump (£100,000), Davis Polk (£100,000), Sullivan & Cromwell (£100,000), Latham & Watkins (£98,000), Skadden (£98,000), Kirkland & Ellis (£97K), Weil Gotshal & Manges (£95,500) and Cleary Gottlieb (£95,000).

For all the pay information for the top 60 UK law firms, check out the Legal Cheek Firms Most List.