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Mayer Brown boosts junior lawyer pay to £78,000

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Trainee salaries and LPC maintenance grant also up

International law firm Mayer Brown has upped the salaries of its trainee and junior lawyers.

The Bishopsgate-based outfit has confirmed that its London newly qualified (NQ) lawyers will now start on a salary of £78,000, up 4% from £75,000. This places them on the same cash levels as their peers over at Hogan Lovells, and £1,000 above their opposite numbers at Baker McKenzie, DLA Piper and Norton Rose Fulbright (£77,000).

Mayer Brown has also boosted trainee pay by £1,000. First year rookies will now receive a salary of £44,000, up from £43,000, while those a year ahead will earn £49,000, up from £48,000. This represents a 2% rise across the board.

Pay uplifts aside, the 26-office-outfit confirmed it will also be increasing its Legal Practice Course (LPC) maintenance grant by a healthy 43%.

Future trainees at the outfit — which offers around 15 training contracts each year — will receive £10,000 in living support, up £3,000 from a previous offering of £7,000. The increase is effective from this year.

The outfit’s newest recruits complete the vocational course at BPP Law School’s Holborn branch. The firm also fully funds LPC fees.

The 2018 Firms Most List

Mayer Brown was one of the standout performers in our Trainee and Junior Lawyer Survey. Bagging an A* for its training, the firm received As for quality of work, peer support, office and perks. The results from the new 2018–19 survey will be released this month.

News of the maintenance grant uplift comes just one day after we reported that the London office of fellow Chicago-founded law firm Sidley Austin had bumped its offering by 57% to £11,000 — the largest LPC grant of any City outfit. Meanwhile, White & Case confirmed last week its soon-to-be-trainees would receive £10,500 in living support, an uplift of 40%.

A number of top City outfits have upped their maintenance grants in recent months.

In January, magic circle duo Clifford Chance and Freshfields boosted their LPC grants by 43% to £10,000. Others who have matched include Allen & Overy, Linklaters, Slaughter and May, Norton Rose Fulbright, Kirkland & Ellis, Herbert Smith Freehills and Hogan Lovells. All the firms mentioned cover LPC fees, too.

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41 Comments

bob

…yet their trainees still get sweaty palms when they talk to clients

(2)(18)

Anonymous

Sweaty crack as well… was a tough client meeting. Thought I was never going to get out alive.

(4)(0)

Anonymous

Why so many dislikes? MC litigation seat to stressful for you?

(4)(0)

Anonymous

U wot mate? I’ll slap you with my clammy palm!

In all seriousness though – you dislikers are probably the cohort in life that will kak their pants if you see a dark shadow in an alley way.

(1)(0)

Anonymous

This is the part where everybody compares this to the American firms and state that £78k is chicken feed as they have lost touch with the reality of wages outside of law.

If you want MAJOR wedge at a young age then you need to look at banking rather than law.

(14)(6)

Anonymous

I agree – join the compliance team, the world looks great from down here.

(6)(3)

Anonymous

Haven’t you got some AML docs to be checking?

(2)(1)

Anonymous

Yes compliance scrubber – back to the boiler room with you.

(2)(0)

Rupert; a US Firm Associate

🎼Chick…chick…chick…chick…chicken! 🐔

Lay a little egg for me… 🥚🎶

(0)(1)

Anonymous

Katie, you ruined a perfectly good thread.

(1)(0)

Anonymous

LLL

(1)(0)

Brock

Salaries at market-leading US firms are more or less on par with front office banking.

(11)(2)

Anonymous

No, they aren’t. Bonuses included, IB is a clearly superior financial package. At elite boutiques/BB banks, in a good year, bonuses can reach 80-100% of salary or more. US law firm salaries only break the 100K barrier from NQ level (Year 3).

(2)(7)

Anonymous

Mike drop…now hurry back to the photocopying room.

(2)(0)

Anonymous

No it depends which US firm you’re at. If you’re comparing to top bulge bracket banks (not DB anymore) then the only similar law firms are places like Kirkland, Vinson, Latham and Akin. Otherwise it’s less. However for the number of hours worked, almost any US firm would be a ‘better deal’ than front office IBD.

(6)(1)

Anonymous

Precisely.

First year associate at one of the firms mentioned above makes the same as a first year associate at BB investment bank (all in), and works slightly less hours.

(2)(0)

Anonymous

And quite possibly more than anyone not at the BB banks. Any of the boutiques will be similar or less and anyone at a European/mid-tier will certainly be less.

(1)(0)

Anonymous

Elite boutiques pay more than BB banks. Stop pretending to know about what you’re talking about.

(4)(2)

Anonymous

No, not all of them do. Stop pretending to know about what you’re talking about.

(3)(2)

Anonymous

I don’t know about BB banks, but first year associates (Year 3/4) at the elite boutiques clear 200k. They have also been earning well in excess of 100k from Year 1. You cannot argue that the highest paying law firms are as lucrative as the highest paying investment banks.

IB is longer hours, yes, but we’re talking about gross salaries.

(1)(4)

Dwayne

A first year analyst is not earning well in excess of 100k at any bank, boutique or otherwise.

(8)(1)

Anonymous

Try 60-80k for first year.

(4)(1)

Anonymous

Yes, 60-80 basic. But I’m talking BONUS included.

Anonymous

No, total comp. This information is all available online. Basic about 55, bonus 20ish.

Anonymous

Bonuses included, a 3/4 year PQE at Kirkland is also clearing in excess of £200k. US law is a good deal.

(5)(0)

Anonymous

You can’t compare the two though – a first year associate in IB is comparable to an NQ for time spent in work/typical age

(1)(0)

Lionel

What is the typical age? 26/27?

Anonymous

Not the same, but close.

(1)(0)

Tie Rack

Any news on NQ rates at Dorsey? Is it on the Cravat scale?

(16)(0)

Anonymous

NEWS!

The price of a yogurt in the canteen of a major US ‘shop’ has gone up by 2p. That put’s it 1.04p above the average MC canteen yogurt price, and 1.11p above a basket of SC canteen yogurt prices.

Please can we now have 175 posts about how much better the yogurt pricing policies at US ‘shops’ are than at any other firms.

(8)(1)

Anonymous

Reading this was a waste of energy.

(7)(1)

Anonymous

Yoghurt is better value and better quality at top US investment bank canteens – no question about it.
P.S. LC – Can we have a yoghurt category on the “Most List” for law firms…. up there with Partner Approachability, Perks et al?

(3)(0)

Anonymous

Brothers! Sisters!

Jeremy Corbyn will tax this greed!

We need socialism, to redistribute this surplus wage to the poor and vulnerable! Solidarity with the Palestinians and the oppressed everywhere!

Against racism, wherever it is found! Especially in apartheid states like Israel!

VOTE CORBYN! FOR THE MANY, NOT THE FEW!

(0)(12)

Anonymous

Head over to the polishing station in the PE team.

(5)(0)

Anonymous

Top bantz

(0)(0)

HSF PE Associate

Not as top as my polishing.

(1)(0)

Anonymous

Pipe down you small trainee.

(1)(0)

Anonymous

A lot of people are missing the point that trainees are paid far less than analysts. In a US law firm – assuming salary of 45k first year, 50k second year – you would earn 95k over the first two years of work. In a top investment bank, in the same time period, you could earn 150-180k. Bottom line: IB will make you much richer, faster, than law.

(0)(2)

Anonymous

That’s not exactly much richer or much faster.

The earning power then evens out at associate level as discussed above.

(1)(1)

Anonymous

It’s twice as much money mate. The difference equates to a whole year’s earnings in many law firms.

The earning power only gets close if you work for a Cravath-scale law firm, which a pretty limited number of lawyers do. Don’t forget the hundreds of MC junior associates who don’t pull even 100k a year – plus all the people at mid-tier UK firms and non-elite US firms. M&A bankers with the same level of experience earn far more.

For lots of reasons I much prefer a career in law to one in banking. But I cannot kid myself that money is one of those reasons.

(2)(1)

Anonymous

Banking offers:

-Better exits (plenty CCOs and CEO started out as IBs, lawyers wouldn’t be given an entry level sales job)

-Shot at truly mega dollar. K&E parters make incredible wedge, but a senior Goldman partner would spend Neel Sachdev’s drawings on blow

Downsides

– Less job security

– Even more of a fisting on hours

(2)(1)

Comments are closed.

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