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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