Dechert boosts London NQ solicitor pay to £120,000
The London office of US outfit Dechert has bumped the salaries of newly qualified (NQ) lawyers despite the financial uncertainty brought about by the coronavirus pandemic.
The firm’s fresh-faced associates will now receive a salary of £120,000, up 3% from £116,000. London trainee pay remains unchanged, with first years receiving £45,000 and second years £50,000.
The pay boost follows decisions by several top City players to cut junior lawyer pay in response to COVID-19, including four out of five members of the magic circle. Other outfits, meanwhile, have opted to freeze salaries.
Legal Cheek‘s Firms Most List shows the new £120,000 sum puts Dechert’s NQs on a pay par with their peers at Covington Burling, Gibson Dunn, Orrick and Shearman and Sterling.
Legal Cheek reported yesterday that the vast majority (80%) of legal workers expect a pay rise within the next year, according to research published by jobs site CV-Library. Twenty percent also said they were confident of bagging a promotion in the next 12 months.
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