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Ashurst boosts newly-qualified solicitor pay by 8% to £82,000

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Salaries could swell to over £94,000 with maximum bonuses

Ashurst has bumped the salaries of its London newly-qualified (NQ) lawyers by 8% following a pay review.

The silver circle player confirmed this morning that fresh-faced associate will see their salaries swell from £76,000 to £82,000, equating to an extra £6,000. Junior lawyers will also be eligible for a performance related bonus that could increase total compensation to a hefty £94,300.

Ashurst lawyers further up the ladder are also cashing in. The international player — which offers around 45 training contracts each year — confirmed that associates with one years’ post qualification experience (PQE) will now earn a salary of £86,000, up from £80,000, a rise of 8%. Total 1PQE compensation could hit as much £98,900 with a full bonus.

Meanwhile, 2PQE associates will see salaries jump from £87,000 to £94,000, again an uplift of 8%, with maximum bonuses taking total 2PQE compensation to a hefty £117,500. Trainee pay was upped earlier this summer and currently stands at £44,000 in year one, rising to £48,000 in year two.

The 2019 Firms Most List

London managing partner, Simon Beddow, commented:

“We had a very strong start to the financial year and this has continued through September. This, together with the desire to remain as competitive as possible, led us to undertake a review of salary and in consequence we have made a number of changes which will take effect at the firm’s half year on 1 November.”

Legal Cheek’s Firm’s Most List 2019 shows that today’s money move (excluding bonuses) sees Ashurst’s NQs leapfrog their peers at host of top outfits including Macfarlanes (£80,000), Slaughter and May (£80,000), Travers Smith (£78,500), Hogan Lovells (£78,000), Mayer Brown (£78,000) and Baker McKenzie (£77,000).

In our Trainee and Junior Lawyer Survey 2018-19, Ashurst posted an A* for training and As for quality of work, peer support, partner approachability and social life, however, it could only secure Cs for its canteen and office.

News of the salary uplifts come just days after the Ashurst confirmed a strong autumn retention score of 90% (19 out of 21).

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71 Comments

Anonymous

Ashurst paying NQ’s more than Slaughter’s.

L o l z.

(37)(0)

Penelope Slaughter

But but prestige.

(12)(0)

Anonymous

After inflation still lower than 2007 pay. What mugs we are.

(4)(0)

Anonymouse

Since Slaughters is, by far, the most profitable MC firm, it would be nice to see them take this as a chance to boost NQ pay to £100k.

My guess is that they could easily do it without scathing overall PEP.

(20)(1)

Critical Thinker

Except that you don’t know how profitable Slaughters is – no one except Slaughters partners do, because S&M don’t publish their financials.

Now I’m not suggesting that Slaughters partners have any interest in people thinking that they’re paid 3 million each, and conveniently not making any corroborating data available, but you might very well think that.

(20)(0)

Anonymouse

I remember coming across some article or comparison chart featuring PEP at Slaughters at just over $2.5M – I used this figure, perhaps carelessly, as starting point in writing the above.

Although they do indeed maintain secrecy regarding their financials, I am confident this is due to them not wanting to deal with having to justify a slight decrease or stalling of their turnover.

Anyway, how do they even keep financial secrecy if LLP’s have to publish accounts for each financial year? I would be grateful if anyone could shed light on this point…

Regarding boosting NQ pay, I remain convinced they could easily bump their current handout without incurring any substantial impediments.

(1)(2)

Critical Thinker

Slaughters infamously *isn’t* an LLP – it’s a simple partnership. Hence no publishing obligation.

I admire your faith in the benign intentions of the Slaughters partnership. I confess to being of a more cynical disposition in this regard.

Anonymouse

I see, thanks for clarifying that!

Would you know why by any chance? I understand that most (if not all) other major law firms are LLPs.

I can’t believe they do not adopt the LLP structure just to retain financial secrecy.

Anonymous

“I admire your faith in the benign intentions of the Slaughters partnership. I confess to being of a more cynical disposition in this regard.”

Who the fuck talks like this?

Anonymouse

Someone who appears to have a rather sound command of the English language?

Anonymous

Fuck off

Anonymous

Slaughters are not an LLP just a normal partnership

Anonymous

Slaughters doesn’t have an apostrophe you mug

(2)(1)

Anonymous

Meanwhile over at CMS…winter fuel allowance now added as a staff benefit in kind.

(23)(0)

Anonymous

Shet firm

(1)(0)

Penny the Hutt

Rumours have it CMS are upping to £95k by Xmas.

(3)(0)

Anonymous

Salaried partners that is, not NQs

(14)(0)

Rupert; a US Firm associate

Chicken. Feed.

(5)(9)

Critical Thinker

Of course, well over three times the average UK income is fairly described as chicken feed.

(19)(0)

Rupert

It is, relatively speaking.

(3)(3)

Critical Thinker

But “chicken feed” implies objective rather than relative lack of magnitude.

If all you mean is “less than others”, say that. But don’t expect anyone to care.

(7)(1)

Rupert; a US Firm associate

How dare you speak to me that way???????

You know nothing of which you speak!!!!!

Anonymous

You are a fresher. Fuck off.

Anonymous

Hush now fool.

Rupert; a US Firm associate

Fool??? Fool????????

Learnt how to punctuate before calling others a fool, fool!

Hardcore

Stfu you betahomo

Anonymous

Dec. Hert

(7)(0)

Anonymous

Everyone come and join in all of his games!!!!

(0)(0)

Rupert; a US Firm associate

Oh? And what is YOUR name, then?

You think it’s funny to mock someone because of their name, do you?

Let’s hear it so we can poke fun at you too.

I still don’t get why you think the surname “DeBeere” is funny and why you ramble on about it every time I post something??

What a pathetic little specimen you must be.

I bet you’re either a student or earning peanuts doing P.I!!!!

(0)(3)

PEPE

U OK HUN

(3)(0)

Anton

No. He’s not OK.

Anonymous

Res ipsa loquitur

Critical Thinker

For once a pay increase report which is somewhat transparent (i.e. doesn’t build in “median bonus” or similar in what amounts to a blatant lie about base pay).

Props to Ashurst, decent whack and it’ll only push wages up for everyone else as well.

(29)(0)

Anonymous

Finally a firm not copping out and putting some misleading median figure. Also a great salary increase, more than magic circle with max bonus…

(24)(0)

SPBSlave

I’m hungry, can I have more beans please?

(6)(0)

Anonymous

LLL

(0)(0)

Anonymous

9 to 7.30, that’s part time in serious m&a teams, should probably rethink a career in law if you can’t handle those hours

(9)(0)

Sex-Deprived, Money Loving, 2nd year Trainee

To be fair, I spend at least 1/3 of those 10.5 hours a day sitting on Legal Cheek longingly awaiting an article announcing increased Ashurst NQ pay, and a further hour masturbating in the toilets, so, you know…

(5)(0)

Ashurst NQ

Top bantz!

(0)(0)

Anonymous

That’s Legal Aid Family Law hours, m’boy.

You won’t last 5 minutes…

(0)(0)

Anonymouse

To be fair, most “brutal” practice areas have late finishes but a more flexible morning arrival time.

Most lawyers who start at 9 sharp are lawyers in advisory (or contentious) departments who clock their 9-6/7’ish.

But I completely agree, if you work in M&A/PE/Finance your average day should be:

– 9.30/10.00 – 8.30/9.00 (off-peak);
-9.30 – 10.30 (average);
-10.00 – midnight and beyond (signing/closing approaching).

My two pence.

(6)(2)

Anonymous

9-5 is more like it. 9am-5am that is

(3)(1)

Anonymouse

Exactly. It’s like investment banking without the investment banking pay…

But we are doing it for the prestige, right?

(1)(0)

Anonymous

Nonsense. There’s not a firm in the City which works its associates that hard. Besides, City Law particularly moneylaw is way better value per hour than IB, even bulge bracket.

(1)(2)

Anonymous

If you truly believe that, then you don’t realise how bad it can really get. You must work at Reed Smith or something. I’m at a proper US shop. There are psychos in Corporate billing 360+ hours/month. Don’t try and tell me it doesn’t compare to the banks.

(1)(0)

Anonymous

Then you should be on moneylaw 3.0 which is the same

Anonymous

‘Shop’. Fuck off.

Anonymous

I’ve worked those hours and seen people bill 100 hours/week on a regular basis. Top tier m&a deals demand it.

(0)(0)

SPBSlave

I do this on the regular.

Realist

I agree. People don’t realise how brutal investment banking is, and how cut throat. They chop people, and bear in mind these are all really high achievers. So yes I know people from school who were earning £300k in IB after 4-6 years, but now (early 30s) every single one of the high earners in front office IB are doing other things, some after a (long) period of unemployment. Law firms are not so brutal.

(0)(0)

Dirk

K&E and a few others pay similar to most IBs anyway

(1)(0)

Anonymous

And the rest…

CMS trainee

shet firm, don’t care

(1)(6)

Anonymous

LLL

(1)(0)

Anonymous

Dolla

(0)(0)

Anonymous

Pretty good tbf

(7)(0)

Anonymous

This article reveals a lot about people who comment on LC. Whilst Ashurst was paying its previous rates, the comments section was full of people suggesting the firm was of poor quality in terms of the work it handles. Now that they pay more, nobody has yet made a single comment along those lines.

(22)(2)

Anonymous

As if, Ashurst is still a shet shop BUT the raise does give it some limited credibility. Still rather work for top US firm than Ashurst anyday

(4)(9)

Anonymous

Nobody was saying Ashurst was a Kirkland or Latham. There was,however, a lot of trash being said that HL,HSF etc >Ashurst, which simply isn’t true.

(4)(0)

Anonymous

Probably the best English firm outside the MC tbh

(14)(11)

Anonymous

LMAOOOOO

(4)(3)

Anonymous

I don’t think that’s too much of a ridiculous statement – they at least pay the most of the non-MC English firms.

(6)(5)

Anonymous

HSF?

(1)(4)

Anonymous

HSF is 85 inc. bonus. Assuming Ashurst NQs manage a bonus of over 3k pre-tax (safe assumption), this comfortably puts Ashurst ahead (for now).

HSF grandee

93k inc. bonus you putrid ogre

Anonymous

Ok so about the same as Ashurst then.

Anonymous

MAKE ASHURST GREAT AGAIN

Step 1: More money!!

Step 2: hm…

(4)(0)

Anonymous

Step 3: Declare bankruptcy; merge with obscure US firm.

(4)(2)

Anonymous

Step 3: Declare bankruptcy; call Gordon Dadds

*fixed that for you.

(2)(2)

Ashurst Trainee

I hope this raise finally aligns ignorant legal cheek readers’ perception of Ashurst with that of reality. I was starting to get sick of crazy claims that the likes of HSF and HL were superior firms….

(6)(3)

Anonymous

Both HSF and HL are superior firms. Both have more tier one rankings on legal 500 and band 1 rankings on Chambers & Partners. More secondment opportunities, HL has arguably the best legal office in the city and finally neither of those firms gets abused on legal cheek unlike Ashurst for a reason, Ashurst is basic.

(1)(2)

Comments are closed.

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