Dechert boosts London NQ solicitor pay to £120,000

Avatar photo

By Legal Cheek on

Despite COVID

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.

Secure your place: The UK Virtual Law Fair Series 2020

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.

For all the latest commercial awareness info, and advance notification of Legal Cheek's careers events:

Sign up to the Legal Cheek Hub

Related Stories

Norton Rose Fulbright latest to cut NQ solicitor pay

Confirms 87% trainee retention score

Aug 12 2020 12:23pm

Linklaters trims NQ solicitor pay packets by 10%

Last of the magic circle to reveal post-pandemic pay position

Aug 10 2020 2:14pm