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