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NQ lawyer pay hits £90k at Travers

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19

Junior lawyer salaries could rise to as much as £117,000 with bonuses, says firm, which also confirms 84% retention score

The London office of Travers Smith

Travers Smith has today entered the summer associate pay war, upping newly qualified (NQ) base rates to £90,000 — a boost of 6% from £85,000.

Travers added that its new juniors could earn “between £100,000 and £117,000″ with firm-wide bonus and other discretionary payments.

The new and improved salary mirrors that of City rival Macfarlanes, which upped NQ base rates by 6% to £90,000 earlier this month. The Legal Cheek Firms Most List shows the likes of Ashurst, Baker McKenzie, Mayer Brown and Reed Smith all now pay trainees £90k upon qualification.

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Travers has nudged the salaries of its trainees too; first year recruits now earn £47,000, up 1% from £46,500, while second year pay has increased from £52,000 to £52,500 — again a rise of 1%.

Separately, Travers has confirmed 16 out of 19 trainees had committed their futures to the firm. This hands the firm — which dishes out around 25 training contracts each year — an autumn 2021 score of 84%.

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19 Comments

I approve this

a good way across the board to mark return to normality. The legal sector has propelled during the pandemic in terms of revenue, and lawyers are been compensated for their survival.

(21)(0)

Anonymous

Well done gang. Gang done well. Much happiness all round. Pat on the back and back to billing.

(27)(0)

Anonymous

Where is Freshfields?

(32)(1)

Anonymous

Dreaming in the clouds …

(3)(0)

Mad at Skad

Pretending to compete with the US firms. Not on their level.

(18)(1)

Anonymous

Where is NRF?

(8)(15)

Geography Grad | Growth Influencer 🍆 | Legal Technology Advocate 🤓

Sort of near Tower Bridge I think

(42)(1)

anon

I don’t know which is better, the response or “Growth Influencer”. Tippity top tier bants.

(4)(0)

MC NQ

What do associates need to do to hit £117k? Frustrating that we’re capped at 100k

(10)(10)

Oracle

Essentially if you do US hours, say 2300-2500, you will definitely get the full amount. Can happen with fewer hours. Minimum you will get is the firm-wide bonus which will hover around the 10% mark.

(7)(3)

Roger That

If you are doing 2300+ hours at Travers then you are a mug. Just go to a US firm where you’ll get more than £117,000 as a base salary for the same hours.

If you’re doing 1700 odd hours at Travers for £100,000 then fair enough, that’s not a bad deal at all.

(12)(1)

Oracle

Yeah, most people will not get near 2300 at TS. You’re looking at 1700-1900 for vast majority. It’s only very exceptional cases that get paid significantly above the firm-wide bonus and you wouldn’t expect the same people to get the max two years in a row.

(3)(0)

Always confused at retention numbers

Never understand retention numbers: “This hands the firm — which dishes out around 25 training contracts each year”

“Travers has confirmed 16 out of 19 trainees had committed their futures to the firm”

What happened to the other 6 TCs that are “dished out each year”?

(7)(5)

Anon

I believe they have two intakes a year (like most of the bigger firms). March qualifiers are usually a smaller cohort.

(11)(1)

Hmm

Interesting – I thought that March normally had higher number of trainees as the most efficient use of time if doing the accelerated LpC

(0)(19)

Old Guy

Why would you think this? How many students do the accelerated LPC?

It is this sort of comment that lets people know you are an A Level student. September intakes at firms have always been the main, and larger intakes.

(9)(1)

Mr Five Per Cent

Travers trainees don’t do the accelerated LPC.

19 trainees join each September and 6 or so join in March.

(1)(0)

MDR NQ

Mishcon are you listening? £72k is borderline regional pay now.

(5)(17)

SC

With PEP around £1m they should really be offering closer to £90k base.

(6)(0)

Comments are closed.

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