News

Taylor Wessing boosts London NQ lawyer pay to £71,000

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69

A rise of 13%

City outfit Taylor Wessing has bumped the salaries of its London newly qualified (NQ) lawyers, Legal Cheek can reveal.

The firm, which takes on around 24 trainees each year, has bumped junior lawyer wedge to £71,000 — a rise of £8,000 or 13%. Legal Cheek’s Firms Most List shows that Taylor Wessing’s new associates are now £1,000 better off than their opposite numbers at Bryan Cave Leighton Paisner and Watson Farley & Williams, and on a pay par with NQs at City duo K&L Gates and Simmons & Simmons.

Taylor Wessing confirmed that the rises came into effect last month and that trainee pay remains unchanged, with first years earning £40,000, rising to £44,000 in year two.

In a joint statement, graduate recruitment partners, Kirstie McGuigan and Matthew Royle, told Legal Cheek:

“We’ve received such positive feedback this year on our trainee development programme and recognition through a number of awards for the experience and support we provide. Our trainee ‘class of 2016’ is one of our latest success stories. They’ve all made a significant contribution to the growth we have celebrated in recent years and this increase reflects that. We’re also really pleased that so many of them are staying with us.”

News of Taylor Wessing’s salary uplift comes just 48 hours after it confirmed an autumn retention score of 87% or 91% — depending on how you read its figures. Twenty-one of its 23 rookies are staying put, however, one is on a fixed term contract.

The 2018 Firms Most List

It’s been a summer of big money moves. US law firm Milbank Tweed Hadley & McCloy triggered a fresh round of rises after it upped London NQ pay to an eye-watering £143,000. Not to be outdone, a host of US firms quickly matched including Akin Gump, Kirkland & Ellis and Latham & Watkins. We produced a handy video (embedded below) giving you the lowdown on this year’s MoneyLaw madness.

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69 Comments

Anonymous

This is boring to everyone apart from the 21 NQs at Taylor Wessing – can’t you just quickly update the LC firm profile and then maybe you’d have time to spend reporting on actual news?

(7)(14)

Anonymous

The most list needs updating generally tbh – seems a lot of info is out of date.

(11)(0)

Anonymous

LC should make an effort to publish a revamped and fully updated ‘2018’ salary list for September or so.

(14)(0)

Anonymous

I think it’s interesting. You want to know what the market standard is.

(3)(0)

Anonymous

LOL how do the NQs even get out of bed for £71,000?

(1)(3)

Trainee Bob

Good – a number of other firms (without mentioning names) need to make NQ pay at least £70k in the City…

(11)(0)

NQ

Meanwhile FIELDFISHER still insists it’s paying “market rate” by throwing us dregs.

Up to £70k you tightwad bastards.

(13)(0)

Anonymous

Join a proper firm and get paid properly.

(1)(5)

Anonymous

I’m taking about firms like Addleshaws, paying less than £70K with long-ass hours leaving the office at midnight and getting less than Taylor Wessing is embarrassing.

(4)(4)

Anonymous

Pinsents paying just £68k NQ is humiliating as well.

(3)(5)

Anonymous

In these cases people will train at these firms (Pinsents/Addleshaws), as they are good firms to train of course, but then leave once qualified.

(8)(0)

Anonymous

Pinsents is £70k for Sept intake.

(5)(0)

US NQ

ROFL, that’s exactly half what I’m packin

(2)(3)

Anonymous

For twice the amount of work and half the amount of life. ROFL

Anonymous

Pinsent masons is pretty mediocre

(2)(1)

Anonymous

Utterly shet

(0)(0)

Anonymous

I thought addleshaws was an IM-tier shop, but without the private client work?

(6)(1)

Anonymous

Bit harsh, does some alright work for the big retail banks and Corporate’s solid enough in mid-market private equity. Litigation’s traditionally strong.

More a poorer NRF with some sexy litigation thrown in.

(2)(0)

Anonymous

Fck all, isn’t it

(0)(0)

Anonymous

That’s your mum’s motto I hear.

(9)(0)

Slaughters NQ that is forced to use food banks

… prestige?

(9)(2)

CMS

Also 70k.

(1)(0)

Anonymous

ROFL

(1)(0)

Anonymous

44k for first seat trainees now also

(1)(0)

Anonymous

Please update the most list loads of US firms with London offices are not featured at all!

(4)(0)

Anonymous

Covington went up this week

(2)(0)

Anonymous

Details?

(4)(0)

Anonymous

100, 110, 120…

(1)(0)

Anonymous

Any update on Dorsey?

(0)(1)

Anonymous

Bollocks, 95k NQ.

(4)(0)

Anonymous

What does that mean?

(1)(0)

Anonymous

Paul Hastings joined the “MoneyLaw” party recently

(4)(0)

Anonymous

What about Dechert

(0)(0)

Anonymous

Still 95k

(0)(1)

Anonymous

Lulz

(2)(1)

Anonymous

Wrong. £105.

(0)(0)

Anonymous

JD went up too

(0)(0)

Anonymous

To what?

(0)(0)

Anonymous

105k NQ

(2)(0)

Anonymous

50k first year and 57k second year – think it’s the highest in the city for trainees now

(3)(0)

Anonymous

That’s a discretionary uplift for the mandatory NDA you must sign as an incoming Trainee at JD.

(1)(3)

Anonymous

You have to sign an NDA at all law firms as a trainee…

(2)(1)

Anonymous

You have no idea what the JD NDA really means son…

(1)(0)

BG

“We produced a handy video…”

Suuure…

Looks like a PowerPoint presentation I made when I was 10.

(11)(0)

Anonymous

For a shop like Taylor Wessing dropping a 13% salary raise across the board is no small feat. At £71k NQ with their relatively reasonable billable targets that’s a pretty sweet deal if you ask me.

(10)(2)

Anonymous

Dentons?

(0)(0)

Anonymous

£70k NQ.

(0)(0)

Anonymous

Pay rises?

(0)(0)

Anonymous

Nope, was £70k for a while. LC is just incomprehensibly shet at updating the table.

(0)(0)

Anonymous

Thanks, Any news on upcoming rises?

(3)(0)

Anonymous

Dorsey & Whitney?

(1)(0)

Anonymous

Fuck all

(0)(0)

Anonymous

Meanwhile Watson Farley froze all their pay brackets – why worry about such a small thing like inflation?

(0)(0)

Anonymous

What is WFW nq?

(0)(0)

Anonymous

What is WFW?

fixed

(0)(0)

Anonymous

Work from Work.

(0)(0)

Anonymous

Hogan Lovells raises NQ pay to 86k as of September 2018 *insider goss*

(2)(2)

Anonymous

Irwin Mitchell to beat the Cravath-scale and offer £200k NQ from January 2019 *insider goss*

(9)(0)

Anonymous

Nope I think this lad/las is right. I’ve heard they will announce a pay rise at end of this month

(0)(1)

MoneyLaw 3.0

Stay away from Irwin Mitchell Plc – Dorsey are already above Cravath

(1)(0)

Anonymous

Magic circle wake up

(5)(0)

Squire Patton Budget

If only we got a chunky raise like these guys…

(1)(0)

Anonymous

It’s up to £75k NQ from September 2018, £40k and £45k at Trainee.

(2)(0)

Anonymous

Any news on a BCLP rise yet?

(0)(0)

City Soothsayer

No raises planned at least 12-18 months post-merger.

(1)(0)

Anonymous

HFW?

(1)(0)

Anonymous

£65k NQ from Sept 2018.

(1)(0)

Anonymous

Cheers. Anything on trainee pay?

(0)(0)

Anonymous

Apparently £39k and £44k, but not too sure if that’s legit.

(0)(0)

Comments are closed.

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