US law firm Covington & Burling has raised the already impressive salaries of its London newly qualified (NQ) lawyers even further.
Junior lawyer pay at the Washington-headquartered outfit now sits at a hefty £120,000, up from a previous six-figure salary of £100,000 — a rise of £20,000 or 20%.
The fresh uplift puts Covington’s London lot — who work from offices on the Strand, just a stone’s throw from the Royal Courts of Justice — on the same cash levels as their peers at fellow US firms Cleary Gottlieb, Gibson Dunn, Ropes & Gray and Shearman & Sterling (£120,000).
Legal Cheek‘s 2020 Firms Most List shows the firm’s trainees are among some of the most well-compensated in the City, receiving £48,000 in year one, rising to £53,000 in year two. This put its year two rookies on an earnings par with their opposite numbers at White & Case (£53,000) and £500 better off than those at magic circle duo Allen & Overy and Linklaters (£52,500).
But grads looking to secure a TC at Covington will likely face stiff competition. The firm, which has attracted some big-name clients, including Apple, Bank of America and National Basketball Association (NBA), recruits just eight UK trainees each year.
Cold hard cash aside, the 13-office-outfit secured an A for quality of work in this year’s Trainee and Junior Lawyer Survey, as well as Bs for training, peer support, partner approachability and office.
For all the latest commercial awareness info, and advance notification of Legal Cheek's careers events:Sign up to the Legal Cheek Hub