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Covington & Burling ups London NQ solicitor pay to £120,000

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Extra £20,000

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).

The 2020 Legal Cheek Firms Most List

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.

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28 Comments

Alan

F*cking jealous. Our salary band went up… drumroll… £500

(6)(1)

Kirkland NQ

Lol, bless.

(5)(16)

Nosy Parker

Out of interest, what is the salary for a Legal Cheek journalist?

(11)(2)

Shocked

You think they get paid for this?!

(9)(0)

Realist

Why the petty remarks? If you’ve nothing constructive to add, scroll on.

(0)(2)

Devil

Thank you for your soul.

(4)(0)

Jeremy Corbyn

Brothers! Sisters!

Prime Minister Jeremy Corbyn will tax this greed at 75%!

Freedom for Palestine! Down with metropolitan elites!

VOTE LABOUR, FOR THE MANY, NOT THE FEW!!

(7)(24)

Tax 2PQE

I urge you to stop ranting –

Even NQs already pay 6 to 8 times as much income tax (in numerical terms) as the average worker. Now, who’s not pulling their weight here?

Prime Minister Boris Johnson ought to tax compensation above £100k at 15% instead of the current OUTRAGEOUS effective tax rates of

60% from £100k to £125k
40% from £125k to £150k
45% from £150k onwards.

I see no reason as to why the best and brightest people in our nation must be penalised for simply earning more than their peers.

VOTE CONSERVATIVE, FOR THE BRIGHT, NOT THE DIM!!

(1)(1)

Sir Patrick Star QC

Ouch. Barely a living wage. I sure hope there are other benefits to working at this shop.

(14)(2)

Humourless

Reported to Joanna Hardy.

(6)(0)

Anon

That’s phat, didn’t expect Cov had it in them to throw an extra £20k whack.

(17)(0)

Tom Higgledy-piggledy-ston

These endless salary stories must be pretty depressing for the unemployed/underemployed law students who make up most of the readership of this website.

(22)(1)

Curios Peasant

Does anyone know what exactly is going on with white & case and Jones Day? Their £105k figures have not changes for a long long time, anyone know what the deal is ?

(11)(1)

Anonymous

The deal is that you work for them and in return they pay you £105k per annum (plus bonus).

(60)(0)

Anonymous

W&C is uniquely placed in that it’s one of the only NY headquartered firms in London seeking to align itself with the “mid-Atlantic“ power houses, at least with respect to salary levels.

(3)(0)

Anonymous

Wow, any more interesting stories?

(18)(0)

anon

White & Case have 50 annual trainees to pay, meaning potentially the same number of NQs every year… considerably more than any other US outfit

(0)(0)

Dorsey Trainee

When will Dorsey up to match?

(3)(1)

Y

Never

(1)(0)

Anonymousz

Hahahahaha

(0)(1)

SC trainee

An extra 6k after tax

(7)(1)

Anonymous

An extra 20k in my pension untaxed

(0)(0)

Lewis Brisbois Trainee

When will Lewis Brisbois Bisgaard & Smith LLP up to match this?

(1)(0)

Anonymous

An extra 20k in my pension untaxed

(0)(0)

Allthingsroman

Come on Switalskis

(0)(0)

anon

Does anybody actually care about the minor differences in trainee pay across the board? Surely the big seller is NQ pay? Genuinely interested to know…

(1)(1)

Cleary mofo

Cleary Gottlieb increase salary to 50/55k trainees and 133k NQE

catch up legalcheek.

(0)(1)

cleary g

yo cleary increased its salary to 50k/ 55k/ 133k

CATCH UP

(0)(1)

Comments are closed.

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