News

US firm that pays London newly qualified lawyers £101k boosts trainee intake by 20%

By on
10

Latham & Watkins now offering more training contracts than many mid-tier City outfits

Lead

Californian-heavyweight Latham & Watkins has revealed that it’s to boost trainee intake in London for the 2015-16 recruitment round from 20 to 24.

The move marks a chunky 20% increase — and comes hot-on-the heels of a substantial pay rise given to the firm’s junior lawyers in the capital.

Over the summer Latham upped its newly-qualified (NQ) lawyer pay to a staggering £101,000. The cash injection saw the global powerhouse surpass big-paying US counterparts Akin Gump and Davis Polk, which — despite having smaller trainee intakes — both pay NQs a mere £100,000 a year.

But Latham isn’t the City’s top NQ remunerator. Leading the junior lawyer pay table — as Legal Cheek exclusively revealed back in August — is white shoe stalwart Sullivan & Cromwell.

The firm’s London office sent a powerful message to its City competitors by raising first year associate pay to an eye-watering £101,500. The increase left the nearest English firm, magic circle player Allen & Overy, languishing £23,000 behind.

Today’s news about Latham’s graduate intake increase follows a number of similar recent moves by other top firms.

Earlier this month global titan White & Case revealed that it will boost its London intake from 30 trainees to 40, an increase of 33%. Meanwhile silver circle firm Ashurst revealed a graduate recruitment target increase of 12.5%. The silver circle firm hopes to hire 45 aspiring solicitors for the 2015-16 recruitment round.

10 Comments

Anonymous

And its retention rate?

(0)(0)

Anonymous

95%

(9)(0)

Salmon Act 1986, s.32

Really, Thomas, “Atkin Gump”?

(0)(0)

Anonymous

They were forced to rebrand after Bubba withdrew from the firm, citing differences in opinion over the promotion of Atkin to partner.

(6)(0)

Hogwash

There’s more mistakes in the Firm’s Profile – apparently it’s Akin Grump (sic) according to LC. Pinheads.

(2)(0)

Anonymous

They’ve also got Linklaters’ NQ salary wrong

(1)(0)

Toiler

Squire Patton Boggs as well. They’re on £37k starting, rising to £42k in second year, £62k NQ. Up your game LC or flog off.

(5)(1)

Anonymous

Have Skadden really reduced their NQ salary? That’s pretty much unheard of in the last few years, especially for a US firm!

(1)(1)

US NQ

Link or gtfo.

As far as I’m aware, Skadden pays £98k at NQ, in line with all other NY outfits, bar SullCrom & DavisPolk who pay £100k+.

(1)(0)

Anonymous

Day got coconut in dem

(2)(1)

Comments are closed.