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Travers Smith joins NQ salary war with package of up to £110,500

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Boost comes as City player confirms 4% bump in PEP to £1.25 million

Travers Smith has become the latest law firm to join the City’s growing war over junior lawyer talent, upping its total newly qualified (NQ) solicitor pay package to as much as £110,500.

The two-office-outfit confirmed an NQ now has the “potential” to receive, including bonus, a salary of between £93,500 and £110,500. The move sees Travers’ base rate move from £78,500 to £85,000 — a rise of 8% or £6,500.

Legal Cheek‘s Firms Most List shows Travers’ trainees, of which there are around 25 each year, receive £45,000 in year one, rising to £50,500 in year two.

The pay move comes just days after fellow silver circle player Macfarlanes upped its NQ base rates to £85,000, with bonuses taking actual earnings anywhere between £98,600 and £110,250.

The 2019 Legal Cheek Firms Most List

Pay rise aside, Travers also confirmed a 4% bump in its profit per equity partner (PEP) to £1.25 million, as revenue underwent an 11% uplift to £162.5 million. The firm did not report its profit growth.

David Patient, Travers’ managing partner, said: “This has been another very successful year for the firm, building on the momentum of the last few years. These excellent results are the product of fantastic teamwork and collaboration across the whole firm. We’ve done great work for great clients again this year, and it’s been a collective effort by our market-leading disputes, transactional and advisory practices.”

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58 Comments

Anonymous

Salary war. Huh! Yeah! What is it good for? Absolutely nothing!

Anonymous

Edwin Starr aside – f you’re an equity partner maybe – current/secured future trainees will be salivating.

Kirkland NQ

Why have you got a picture of my toilet paper on this article?

Anonymous

What do you use to pay for things? Andrex?

Kirkland NQ

Nope – usually 3-4 £50s. Or the pages from last year’s Lambo brochures.

Anonymous

Really? Not gold bars and Gilts? Times must be tough.

Anonymous

There’s nothing like tipping strippers in Krugerrand.

Anonymous

Lol still using cash. Out here like an instagram “forex trader”.

Kirkland NQ

Well I find it helpful to have a roll of £50s in the glove box of the Lambo just in case one of the great unwashed (charity collectors, homeless, Legal Execs, etc)tries to approach me. Lobbing a few sheets in the direction of the miscreant usually gives enough of a distraction deliver a devastating ju jitsu kick to the throat and teach the pauper a lesson.

Anonymous

10/10, quality bantz.

Anonymous

Any tip for my vacation scheme’ application into kirkland ? I love that firm.

Anonymous

Nice. TS is good at giving at least the minimum bonus. Even paralegals got 10% last year.

Anonymous

Even? Sure they are not qualified but they are valuable. Try doing your own admin and photocopying.

Anonymous

Yes ‘even’. I said that because many firms don’t give such a bonus. Not because the work of paralegals isn’t important.

Anonymous

Agreed. Year 1 at my international firm I got some book vouchers. Year 2 I got £300 (before tax). 10% would be delightful!

Anonymous

SPB?

Anonymous

BM.

Anonymous

Most firms don’t give much of a bonus to their associates, let alone trainees or even paralegals. Good on Travers, they always struck me as a decent shop.

Hen

At CMS you get £200 of vouchers for 10 years of service.

K&E Phatman

Hefteh

Anonymous

Stop publishing this nonsense. Travers NQ rate is now £85K

Anonymous

They literally published exactly that in the article.

Anonymous

It doesn’t, you moron. Can you read?

Anonymous

you must be some new breed of stupid and blind. It clearly says that in the article.

Anonymous

Fuck off, where? You’ve clearly got brain rot mate.

Anonymous

F**king fool.

Anonymous

“The move sees Travers’ base rate move from £78,500 to £85,000 — a rise of 8% or £6,500.”

You really aren’t going to make a good lawyer. Just give up bro.

Anonymous

Man if you’re good enough, it is a great time to be a lawyer. Enough with the doom and gloom!

Anonymous

This profession will beat the optimism out of you soon enough.

Anonymous

I think I just came.

JDP

My trainee tells me that’s my catch phrase.

Travers Smith Trainee

This is a misleading article. Base salary is £85k. Terrible “journalism” from Alex and team.

Anonymous

Anybody who actually reads the article will see that it’s 85 base. If pure a TS trainee, you should also know that you’d have to do something seriously stupid to not get the minimum bonus. So in reality the 85k figure is the least relevant one because virtually nobody will actually earn as little as that.

Anonymous

No, it’s not. The base & bonus structure is clearly stated in the article. Improve your reading comprehension, it will greatly help your career at Travers.

Anonymous

lmao as if that turd has a career, let alone one at Travers

Seal of Approval

As the person who originally raised Legal Cheek’s entirely ambiguous and fraudulent efforts to disguise pay, I can confirm that the language used in this article makes clear differentiation between what they will and what they may be paid.

Anonymous

I’m already heading for NQ elsewhere, but I have always wondered about Travers Smith.

I only know a few old reputations about them: to be recruited you needed to be Cantab and/or a beautiful blonde. I remembered looking at some of the lawyer profiles back in the day and found this to be decently accurate.

However, I still wonder about the culture there. There was always the “we work hard but have a very open culture” type statements on the likes of Chambers Student but never actually met anyone from there to give greater insights that weren’t filtered by HR/partners.

Anonymous

Great firm with genuinely friendly and polite people and very strong work.

Anonymous

Have heard mixed things about this firm. What are the hours like in advisory practices?

Anonymous

The hours are 60 mintues long and run throughout the day (24 in each).

Anonymous

This is fake news. Travers NQ is a flat 84k and there is a discretionary firm wide bonus which everyone gets regardless of hours or performance (10% this year). That brings you to the 93k figure but of course if the bonus goes down or isn’t paid you will only get 84k. There is also another bonus called the “misery bonus” which only one or two people in corporate get every year for doing over 2000 hours. To suggest these amounts are available to NQs is irresponsible as it’s just not correct at all.

Anonymous

It literally makes no sense to go here when you could join Kirkland or Latham.

Anonymous

You make it sound so easy

Kirkland NQ

Heh, it is easy! Then again, I was recruited directly by the ‘land while queueing for my first J.D. lecture at Harvard.

Anonymous

I don’t think it’s that hard tbh.

I got invited to an interview for an NQ role at Kirkland in the debt finance team without even doing banking during my training contract and coming from a decent (but certainly not top) City firm… They just want desperate bodies that are willing to sell their soul.

Anonymous

No really. KE in particular is known țo cast the net very wide fir first round interviews. Actually getting hired is a very different story.

Anonymous

Firms like Skadden and Simpson Thacher are difficult to get into, even at NQ level.

Anonymous

I don’t think people realise how unpleasant life at these firms is for anyone who isn’t themselves mildly insane. Constant pressure from the top to stay late. The knowledge that your evenings and weekends and holidays will never be yours as long as you work there, and you’re expected to be onl call essentially 24/7. The (totally justified) fear that you’ll be dismissed if you don’t bill enough. Partners who take a savage pleasure in humiliating you if you make a mistake or are perceived not to be working hard enough. Colleagues who start off as overambitious nutters and morph into genuinely manipulative and unpleasant people who look for an opportunity to throw you under the bus. Working at places like Kirkland is way worse than it sounds and you need to be a hard bastard to survive.

Anon

#rationalisation #jealousy

Latham NQ

Cute

Anonymous

Cool firm. Too bad they’ll reject everyone not named Hugo VII.

Oscar Hubbington

This is just one year of associate salary – there might not have been much of a pay rise across the board. What about at 2PQE? 4PQE? 6PQE?

Why are these firms trying to hide the salaries that most of the associates in the firm earn?

Anonymous

Good point – I notice that some the bonus for the MC firms were styled as a “signing bonus”. Does that mean a 1PQE make less as a result of marginally increased base salary but bonus becomes discretionary (and said associate must fight tooth and nail to earn such discretion)?

Big Wedge Brother

Doesn’t have the prestige of the MC. Doesn’t have the pay of US shops. Weak sauce.

Jobbie Travers

With these salary raises, are employees expected to work harder than they currently do?

Anonymous

Partners expect all employees to work harder than they currently do every time the sun rises.

I expect due the raise the threshold for receiving a bonus went up by another 100 (recovered) billable hours.

Anonymous

So which is firm is “normal”and “chilled” and pays their NQs 90k or more then lol?

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