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Simmons & Simmons, Holman Fenwick Willan and Ince & Co boost junior lawyer salaries

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Trainees also handed modest rises

A trio of City law firms have upped pay for their trainee and junior lawyers.

Simmons & Simmons, which dishes out roughly 35 training contacts annually, has increased wedge for its London-based newly-qualified lawyers (NQs) by 4% to £71,000. The outfit has also boosted first year trainee pay from £40,000 to £42,000 (5%), while those a year ahead will now receive £47,000 rather than £45,000 (4%).

The firm’s Bristol year one and year two trainees are also cashing in. They will now take home £37,000 and £38,000 respectively (3% increases for each year).

Legal Cheek’s Most List shows that today’s increases puts Simmons & Simmons’ London NQs on a pay parallel with their peers at K&L Gates, and £1,000 better off than those at Berwin Leighton Paisner, Reed Smith and Watson Farley Williams.

Next up, Holman Fenwick Willan (HFW). The firm has increased NQ pay from £58,000 to £62,000 (7%), while simultaneously upping trainee salaries by £1,000 (3%) across the board. They will now earn £37,000 in year one, rising to £39,000 in year two.

The rises put the firm’s newbie associates on an earning par with those at the likes of northern giant Addleshaw Goddard and City outfit Bird & Bird, and a grand ahead of NQs at Charles Russell Speechlys. Legal Cheek’s HFW profile shows the firm offers around 15 training contracts annually.

Finally, Ince & Co has confirmed modest increases of its own. NQs at the shipping specialist will now earn £63,250, a 2% increase from £62,000. Those in the first year of their training contract will now pocket £37,750, up from £37,000 (2%), while those a year ahead will take home £41,800, up from £41,000 (2%).

The firm’s fresh-faced associates are now £250 better off than their counterparts at Clyde & Co, Fieldfisher, Mishcon de Reya and Taylor Wessing. Ince & Co — which has 12 offices in eight countries — provides around ten City training positions each year.

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28 Comments

Anonymous

Looking at these figures I do wonder who are these people to actually agree to work at these firms for these laughable salaries.

(10)(21)

Anonymous

Kind regards, a law student.

(20)(2)

One of those people

International clients, secondments, interesting work…

(9)(7)

Anonymous

Hello HR

(8)(4)

Anonymous

The hfw rises were made last year (nq went to 61k) – but good to see you’re on top of your facts.

(7)(4)

Mr Current Affairs

It’s now £62,000

(6)(0)

Anonymous

Yeah but it wasn’t 58, and trainee pay increases were made last summer.

(7)(1)

Anonymous

37k?!

(1)(4)

Anonymous

Lol

(0)(1)

Anonymous

What do bankers get at the same experience level?

(1)(1)

Anonymous

Depends what area they are in, but a typical first year associate at a top investment bank working in IBD is probably on around £130-£150k total comp. Remember they usually have 2-3 years as an analyst first and about 80% have left before they even reach the Associate level.

(6)(0)

Anonymous

The only law firms that really compete with banking pay are the likes of Kirkland, Skadden, Latham, Akin Gump, Sull Crom, Milbank, Davis Polk.

Not only are the Associate salaries for these around £115k+, but their bonuses are typically 10 – 30/35% of salary. You do the math, but you could be looking at total pay with bonus of £200,000 for a 3PQE at one of these…

(4)(0)

Departing Weil Trainee

1st year Investment Banking Analyst earns £120-£160k a year. 1st year Analyst is the same as 1st year Trainee who earns £45k 😂😂😂

(3)(4)

Anonymous

Well this is just wrong.

No first year investment banking analyst earns £120-£160k. A first year investment banking ASSOCIATE may earn that (this is 3 years after they have been an Analyst), but not an analyst.

First year analyst is not the same as first year trainee as essentially you would be doing the LPC at the time they are starting…

(5)(1)

Departing Weil Trainee

You have no idea what you are talking about.

First Year Analyst base salary is 60k. Sign on bonus is 10k. End of year bonus is 50k. I know a lot of first years who have earned over 100k in their first year straight after undergrad!

(1)(4)

Krishna Joshi

Horsecock.

(1)(1)

Anonymous

Well this is not true.

(0)(1)

CMSCMNO

And ours were frozen

(1)(0)

Anonymous

Well… not so good for the Cameron McKenna Sigle Cameron McKenna part of Cameron McKenna Sigle Cameron McKenna Nabarro Olswang, but a good deal for the Nabarro Olswang part.

(3)(0)

US trainee with a huge cock

Sucks to be you lolololol

(4)(3)

Anonymous

Let it go…

(0)(1)

Anonymous

CMS also got big pay rises – no reports from LC?

The salaries above don’t seem worth it to work the long hours, extreme demands and the culture of law firms generally.

(1)(0)

Cockstain

Figures or gtfo.

(1)(0)

Anonymous

100k for a 3pqe

(1)(0)

Anonymous

ROFL.

(1)(0)

Anonymous

Cms pay rise? Lol

(2)(0)

Anonymous

The only pay rises were for Nabarro and Olswang associates.

(1)(0)

Anonymous

It’s not Holman Fenwick Willan anymore, it’s just HFW. Rebrand.

(1)(0)

Comments are closed.