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Allen & Overy ups junior lawyer pay to £83,000 as it confirms 80% trainee retention score

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Magic circle outfit’s rookies handed £1,000 boosts

Allen & Overy has boosted the salaries of its trainee and newly-qualified (NQ) lawyers by 2%, as the magic circle player confirmed 37 of its soon-to-be associates were staying put.

A&O’s NQs will now receive a salary of £83,000, a rise of £2,000, while trainee pay now sits at £45,000 in year one, rising to £50,000 in year two — an extra £1,000 or 2%. Today’s modest money move puts A&O’s latest batch of associates a full £3,000 ahead of their peers over at Slaughter and May (£80,000) and £2,000 behind Freshfields‘ lot (£85,000). Legal Cheek’s Firms Most List shows Clifford Chance and Linklaters offer NQ salaries of £91,000 (including bonus) and £78,500 respectively.

Pay uplifts aside, A&O also confirmed an autumn retention score of 80%. Of the 46 trainees due to qualify next month, 44 applied for NQ roles and 40 received offers. Thirty-seven accepted. One of the City’s more consistent retention performers, A&O has chalked up rates of 80% (30 out of 40), 85% (40 out of 47) and 82% (31 out of 38) in the last three retention rounds. The 44-office outfit offers around 90 training contracts each year.

The 2018 Firms Most List

Claire Wright, graduate recruitment partner and training principal at A&O said:

“This is a good result and one which demonstrates the consistently high quality of the trainees here at A&O. We are fortunate to have such a strong pipeline of talented young lawyers and I look forward to seeing their careers develop and progress.”

News of the salary boosts and retention result come amid rumours A&O is involved in transatlantic merger talks. Earlier this month, Legal Cheek reported that the magic circle outfit’s top brass had met with senior partners from US outfit O’Melveny & Myers. If given the go-ahead, the tie-up would create a global outfit with over 3,000 lawyers and combined revenues of £2bn ($2.8bn).

97 Comments

Anonymous

How much do O’Melveny pay?

(7)(0)

Optional

Can we take a second to talk about that guy who hijacks first comment each time and just posts the same pro-Corbyn spam over and over? Can LC please investigate this, given the consistency and the ever-presence of this guy I think they could be a paid troll.

(29)(4)

Anonymous

who cares

(16)(4)

Bavid Bassleboff

Haha, you’re so naive. Why don’t you do yourself a favour and just google “web brigades”? You’ll see what it is such persistent posters are trying to achieve… it all boils down to behavioural reinforcement and these peoples’ ability to play upon predictable cognitive biases presented by certain demographics.

But yes, it’s a non-issue and we certainly shouldn’t promote open discourse on the topic. We all see the same poster every day, and nobody thinks it’s odd that they stay on the same message, make the same (typical of a non-native speaker) grammatical mistakes each time and don’t respond to further comments.

You should try caring about something as important as widespread misinformation tactics and blatant manipulation of certain demographics thanks to the instant access and gratification provided by this thing we call the internet.

(4)(11)

Anonymous

Don’t forget your tin foil hat to protect you from electromagnetic fields, mind control, and interdimensional vampires.

Alex Jones

There’s a war on for your mind!

JD...you know the rest

And your body…

Anonymous

A supertax on this moneylaw greed!

Redistribute this surplus wage – nationalise the railways, pay teachers more, and increase NHS staffing!

VOTE CORBYN, FOR THE MANY, NOT THE FEW!

Anonymous

Sorry to shout, but…

…THESE ENDLESS ARTICLES ABOUT CITY LAW PAY ARE REALLY FUCKING DULL.

Time was that Legal Cheek ran a few of these as just part of the mix. Now it’s every other piece every fucking day.

Followed by legions of twats writing about US ‘shops’ and how Fuckwit, Douchebag & Spunkmeyer pay more than Skidmark O’Ballbag.

Tedious. So fucking tedious.

(13)(17)

Anonymous

Anti Semite!

(1)(5)

Anonymous

I doubt if Mr O’Ballbag was Jewish.

(5)(0)

Burned out US 4PQE

ROFL, WHAT AN EPIC RAISE!

(10)(1)

Anonymous

Poor busters. They have to give them something with all the other firms upping their NQ. 1k seems to little, so 2k seems just about right.

(3)(2)

Anonymous

Decent

(0)(2)

Anonymous

Anybody know what’s the pay these days at Seyfarth Shaw? They’re meant to be a top US firm.

(2)(1)

Anonymous

I think you’ll find it’s SHOP

(2)(1)

Anonymous

Clifford Chance from 87000 to 91000 and also increased intake size 80 to 95.

(1)(4)

Anonymous

Yes with the bonus

(7)(0)

Anonymous

Binary bonus, so it’s an ‘all or nothing’. Either you get 91k, or just the salary.

(3)(0)

Anonymous

Where are the rest off to?

(1)(0)

Anonymous

Latham, Ropes, Dechert

(2)(1)

Anonymous

SPB for Intl. Arb

(5)(0)

Anonymous

Strong exit ops – 2/3 anyway.

(4)(0)

Anonymous

Harsh.

(0)(0)

Anonymous

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

(4)(38)

Anonymous

Oh it’s you again

(3)(0)

Anonymous

Doesn’t Corbyn like terrorists and wants to kill Jewish people or something?

I think he is a bad man.

(9)(5)

Bored of Anonymous 12.50pm's S***

Ladies! Gentlemen!

VOTE CONSERVATIVE!

For the few, not the many!

(19)(2)

Anonymous

Only £2,000 behind Orrick, who seem to be on 85 from chambers student

(0)(0)

Anonymous

Orrick upped to £100k NQ yesterday.

(0)(1)

Anonymous

Really? Source?

(1)(0)

Anonymous

Anyone know if city heavyweights ‘Just Costs’ are going to be pegging their NQ Salaries against the dollar?

(30)(0)

Akin Pump

They’ve already exceeded the Cravath Scale brah, setting a new benchmark.

(1)(1)

Pelvis Bulk

This comment gave my groin the pump.

(2)(0)

Ambitious Trainee

Not gonna name my firm (it’s between DWF, Addleshaw, fieldfisher, womble) for obvious reasons but what do you guys think are the chances of me moving to A&O from my current firm as an NQ.

(3)(1)

Anonymous

Definitely possible, but why? You’ll only get a modest increase in earnings post-tax and you’ll definitely work longer hours.

(14)(0)

K&E NQ

A step closer to the ultimate exit op #youcantbuybottleswithprestige.

(22)(0)

Freshfields NQ

You don’t need bottles if you have prestige

(3)(26)

Anonymous

^ did not get a second interview at K&E

Anonymous

Wachtell, Lipton, Rosen, Slaughter & May.

(42)(1)

Anonymous

would still only have like 4 offices lol

(1)(0)

citylaw123

Would be a great name. As much as S&M would like to merge with Wachtell/Cravath/Sullivon/Davis Polk/Simpson/Debevoise et al, it’s never going to happen. For one thing Slaughters isn’t profitable enough. Wachtell’s PEP is double Slaughters, Wachtell partners would be accepting a serious pay cut.

(6)(0)

Anonymous

Should have stopped at Cravath.

(11)(7)

Anonymous

Sullivon eh

(3)(3)

Anonymous

Interesting, but will it blend?

(7)(0)

Anonymous

Synergies for days.

(6)(0)

DWF Partner

We’ve got the biggest cocks in London and we’ve set our milestones high. Top international firm by 2020, a merger with top US firm by 2022, £2bn revenue by 2025.

Fuck yea.

(5)(2)

Well jel cos I want to work for DFS

Won’t DWF be long gone by then?

By 2020 it’s name will only exist on old mugs and pens on its ex employees home desks.

(1)(0)

Anonymous

Any other US firms upped but not updated their websites?

(0)(0)

Anonymous

Can we please have an up to date comprehensive list of NQ salaries LC!

(2)(0)

Anonymous

Simpson Thacher £143K

(3)(2)

Anonymous

Is that right? It was 115.

(0)(0)

Anonymous

Vinson & Elkins now also pay £143k NQ. It’s on the careers website.

Anonymous

Yep

Anonymous

Yes

Anonymous

Absolutely correct.

Anonymous

Correct

(1)(0)

Anonymous

Dentons?

(0)(0)

Anonymous

£75k NQ.

(0)(0)

Anonymous

When was this announced?

(0)(0)

Anonymous

has Gowling WLG had any pay rises?

(0)(0)

Anonymous

Just under 15% increase in wedge to £75,000

(2)(0)

Anonymous

If this is true then that’s a totally legitimate wedge for a shop like Gowling WLG.

(2)(0)

Anonymous

source?

(1)(0)

Anonymous

My imagination.

(1)(0)

Anonymous

WHAT ABOUT FIELDFISHER???????

(0)(1)

Anonymous

What’s the latest on rates over at Hunton Andrews Kurth?

(1)(0)

Anonymous

What’s the current NQ pay at Duane Morris? I would relish an opportunity to work there.

(1)(0)

Anonymous

Less than Magic Circle.

(0)(0)

High Street Approaching NQ

Can someone please confirm what these mid-market US shops pay? Duane Morris, Dorsey, McGuire Woods, Katten, Glusker Fields Claman & Machtinger etc.

(0)(0)

Another NQ

What about Faegre Baker Daniels or Locke Lord?

(0)(0)

Anonymous

Very disappointing raises. Not sure if A&O, CC et al can continue to claim to be part of the “global elite” with these wages. They may be from the clients pov, but whether they continue to be so from prospective trainees and associates is debatable.

(13)(2)

Anonymous

agreed, when you have top partners leaving (just yesterday head of cc infrastructure M&A went to Latham), and lower pay at the bottom, you start to wonder what will be left apart from some historic prestige which is slowly losing its basis

(12)(1)

Anonymous

Anyone know the latest NQ figures at Fassbender Humperdinck?

(1)(0)

Anonymous

What’s the newest on NQ rates at King & Spalding? Genuine question btw

(1)(0)

Anonymous

i am ashamed to admit I googled this.

(11)(0)

Anonymous

Has anyone got any info on the NQ pay at Greenberg Glusker Fields Claman & Machtinger? People told me they’re a top US titan.

(1)(1)

Anonymous

LMAO what’s a Greenberg Glusker? Is this even a real law firm?

(0)(2)

Anonymous

Yes, its 6 NQ’s can expect to trouser £110,000.

(2)(0)

Anonymous

Dechert up to £110k according to RoF

(1)(10)

Anonymous

Incorrect. £115k since July.

(0)(0)

Anonymous

Quit lying

(0)(0)

Anonymous

I’m not, my mate’s brother’s dog’s first owner is 4 PQE there

(9)(0)

Comments are closed.