HSF raises NQ ‘total compensation’ to £107k
Posts 97% autumn trainee retention result
Herbert Smith Freehills has raised the “total compensation” of its newly qualified (NQ) solicitors to £107,000 and confirmed an autumn trainee retention result of 97%.
NQs in the London office now earn £107,000 comprised of base salary and bonus, up from £105,000. Herbies does not disclose its base salary and a previous Legal Cheek estimate put this at around £93,000.
Trainees at the firm earn £47,000 in their first year, rising to £52,000 in their second year.
In other firm news, Herbies has posted a strong autumn retention score of 97%, keeping 28 out of 29 qualifying trainees. The firm confirmed all 29 had made applications for permanent positions but made 28 offers, all of which were accepted. None are on fixed-term contracts.
David Rosen, training principal at Herbert Smith Freehills, commented:
“We are delighted to have achieved another very high retention rate this round. This reflects the high calibre of our trainees and our firm commitment to investing in our people. It also underlines our ambition and desire to recruit and retain the best junior lawyers in the sector. Congratulations to all of our qualifying trainees.”
Herbies performed well in the previous retention round, scoring 93% (28 out of 30) in spring 2021. However, its last autumn score in 2020 was lower “in light of the unprecedented uncertainty caused by Covid-19”. The firm kept only 69% (22 out of 32) of its qualifying cohort but its result this year is a marked improvement.