Weeks after global giant hiked US associate salaries
Herbert Smith Freehills (HSF) has boosted the pay packets of its newly qualified (NQ) solicitors in London.
The global outfit confirmed today that its fresh-faced City associates will now start on a very healthy £93,000 (salary and bonus), up 13% from £82,000. Trainee remuneration remains unchanged, with first years earning £44,000, rising to £48,000 in year two.
Meanwhile, HSF associates with two years post-qualification experience (PQE) can earn up to £114,000 (salary and bonus), a rise of £7,000 or 7%. The firm, which offers around 60 training contracts annually, confirmed that the rises came into effect last month.
Commenting on the pay uplifts, Ian Cox, HSF’s regional managing partner, said:
“It is important for us to continue to attract and retain the best performers to deliver excellent client service. The new compensation system for associates enables us to drive high performance, reward the strongest individuals and helps us work with them to realise their full potential and fulfil their ambition.”
Hard cash aside, the 60-office-outfit performed well in our Trainee and Junior Lawyer Survey. HSF chalked up As in eight categories including training, quality of work and peer support, and bagged the gong for ‘Best Use of Social Media’ at the Legal Cheek Awards earlier this year.
News of HSF’s UK increases come just weeks after it bumped the salaries of its US junior associates to an eye-watering $190,000 (roughly £144,000 based on current exchange rates). This was in response to a series of pay rises triggered by New York-headquartered giant Milbank.