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Akin Gump ups London NQ pay to coveted £143,000

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54

Follows moves by Kirkland & Ellis, Milbank and Simpson Thacher

Akin Gump has become the latest law firm to up the salaries of its London newly qualified (NQ) lawyers to £143,000, as the US summer salary war continues to rock the City.

Last week, Akin Gump confirmed it was upping US junior associate pay to $190,000 (£143,000) — matching moves made by a host of US rivals including Milbank, Quinn Emanuel, Simpson Thacher, Weil Gotshal and Jones Day. Akin Gump has now confirmed to Legal Cheek that its City of London lot will receive the same dollar-pegged increases.

Legal Cheek’s Firms Most List shows Akin Gump takes on just four trainees each year, who earn a salary £48,000 in year one, rising to £52,000 in year two. The Washington-headquartered outfit — which originally specialised in criminal law and was founded by two former FBI agents — has 20 offices in nine countries.

The 2018 Firms Most List

Akin Gump isn’t alone in upping London junior pay to the coveted £143,000 level.

Simpson Thacher, Kirkland & Ellis and Milbank (the firm that triggered the stateside rises earlier this month) have all made similar moves.

At least one firm, however, stopped short. Quinn Emanuel confirmed last week its City NQs will now earn £125,000, a rise of £10,000 or 9%. Cravath, Weil Gotshal, Sullivan & Cromwell, Skadden and Cleary Gottlieb are yet to confirm whether or not they’ll chuck the same US rises at their London cohorts.

Muscling in on the pay action, a number of London-based outfits have bumped pay in their US outposts. Those to so include Freshfields, Clifford Chance and Herbert Smith Freehills.

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54 Comments

Anonymous

DWF salaries remain about 1/3 of this…

(7)(1)

Irwin Mitchell NQ

And mine is about 1/143,000th of this (assuming a soggy biscuit has that much value)

(3)(1)

Anonymous

Don’t worry, the IPO is going to work out just super, so eyes peeled on that paycheck.

(8)(0)

Anonymous

DWF hours remain 1/3 of this

(5)(4)

Big Dick 1PQE

Assuming you’d always work 9:30am to 5:30pm (which even at DWF you definitely won’t), I still don’t see how that’s somehow a 1/3 of the hours an Akin lawyer puts in.

For me the extra 5 hours worked every day (assuming you finish by 10:30pm every single day at Akin) would definitely be worth the extra £90k+ earned per year, and rising each year onwards.

The bonus alone that some of these top guns earn is almost as much as your entire NQ pay at DWF – now let that one sink in… 😂

(3)(5)

AG Associate

We are not doing an extra 5 hours a day…

(1)(0)

Anonymous

How many more than, do tell.

(0)(0)

AG Associate

Leaving between 7-8pm is the norm. Yes, you’ll work round the clock when you have to, but it rarely lasts more than a week or two and generally only happens a few times a year. No different to any other top City/MC firm (despite what they would have you believe about US firms). The only material difference is the $$$.

(6)(0)

Forrest

Gimme a job, Daddy!

(1)(0)

Anonymous

Have a Chocolate 🍫

(1)(1)

JD Partner

You sound like my 4th seat trainee.

(2)(1)

Anonymous

Run!

(0)(0)

Anonymous

Dechert has raised associate salaries in US to $190,000 will they match in the UK

(12)(2)

Anonymous

Yes they will

(13)(9)

Anonymous

No they won’t

(2)(7)

Anonymous

No way. Dechert is very stingy when it comes to compensation and benefits.

(3)(3)

Anonymous

A second-rate shop like Dechert? Forget about it

(2)(1)

Anonymous

Such a shet firm

(0)(1)

Anonymous

Few US firms hanging around 95 still…

(3)(0)

Anonymous

Who? Dorsey?

(1)(1)

Anonymous

No, some DC / NY firms

(0)(0)

Anonymous

Dorsey is on £72k, matching Curtis and Bryan Cave pre-BLP

(0)(0)

Anonymous

Curtis who?

(0)(1)

Anonymous

Curtis Mallet-Provost Colt & Mostle LLP, a NYC-based firm heavily specialised in international disputes, arbitration and mediation. They do some corporate, finance and energy work, but are mainly a litigation firm.

Apparently a really chilled and friendly firm to work at.

(3)(1)

Anonymous

Are you from their graduate recruitment team?

(0)(0)

Anonymous

(5)(1)

Anonymous

Oooh, you’re hard.

Anonymous

This post has been removed because it breached Legal Cheek’s comments policy.

Anonymous

Latham global match confirmed on Friday.

(2)(1)

Anonymous

Indeed. Above the Law are literally doing LC’s job for them yet LC still manage to be 4 days behind.

(2)(0)

Anonymous

Any news on Andrews Kurth Kenyon?

(0)(0)

Anonymous

They no longer exist, do your research.

(3)(0)

Anonymous

If you knew anything about that firm, you would know very well that since earlier this year, Andrews Kurth Kenyon had merged with Hunton & Williams, to form Hunton Andrews Kurth.

(1)(0)

Ramsey Sharma

Came for the article stay for the comments

(3)(0)

Anonymous

True 😂

(1)(0)

Anonymous

Anyone know the salary of Dorsey & Whitney in London?

(3)(0)

Anonymous

Dorsey & Whitney gets mentioned a lot…

(2)(0)

Anonymous

Shet

(0)(0)

Anonymous

Brothers! Jeremy Corbyn will redistribute this greed!

We need this money to pay for criminal legal aid and family solicitors

(1)(1)

Anonymous

Magic circle firms paying about £70-80k less when bonuses are factored in, whilst the partners make £2 million a year?

(1)(0)

Anonymous

NQ salary at CC is 87k without bonus.

(2)(2)

Anonymous

Precisely. When you take £143k, plus summer bonus, plus winter bonus (proper bonuses, not nominal figures as in the case of CC) not far off £70-80k – not forgetting that other MC firms pay less and don’t pay bonuses.

(3)(1)

Anonymous

Wrong

(1)(0)

Anonymous

How?

(0)(0)

Anonymous

Anyone know salary of Dorsey & Whitney? – they don’t really disclose a lot of their London salaries.

(2)(2)

Anonymous

Shet firm, avoid

(0)(1)

Anonymous

?

(0)(0)

Anonymous

Shet work, zero quality clients, pokey oddball US shop.

(0)(0)

Anonymous

Is the Skadden rate for real still at 118k?

Find this hard to believe. Any Skadden assocs to confirm?

(1)(0)

Anonymous

What are the hours like at NQ for MC outside of banking/corporate? If they’re not as bad does it make up for being £60 odd k worse off? (even typing that out was difficult)

Obviously there will be some NQ positions outside of these departments at US firms but are these, by and large, fewer and further between?

(0)(0)

Anonymous

Hours average between 12 a day (arrive at 9:30am, leave just after 9pm) to 18 hours a day (arrive at 9:30am, leave between 3-5am the next day).

Some weeks you get gimped, pumped and yelled at so hard you wish you could crawl back to your mumma.

(3)(0)

Anonymous

Are the hours worth it though? I’m a paralegal in a US firm and make on average 3x my annual salary (due to OT) putting me way above SC NQ rates. I’ve not had dinner at home for at least 5 months.

(0)(0)

Anonymous

Brothers!

Jeremy Corbyn will end this greed!

We need socialism, now, so that these surplus wages can be redistributed for legal aid and the poor!

For the many, not the few!

VOTE LABOUR

(2)(0)

Anonymous

Settle down John Mc’Donnell

(0)(0)

Comments are closed.