Rises in regions and for trainees too
Osborne Clarke joins a growing number of City law firms to boost the salaries of its junior lawyers, with rises for newly qualified (NQ) solicitors and trainees in the London and regional offices.
NQs in London will now earn £80,000, a rise of 13% from £71,000. Those in Reading have been handed a substantial 20% pay rise from £54,000 to £65,000, while their counterparts in Bristol will receive 15% more cash — £52,000 to £60,000.
Trainees in London and Reading, meanwhile, have been handed rises of 10% in both their first and second year, earning £47,500 and £49,500, respectively. Bristol trainees earn £39,250 and £43,000 — rises of 9% and 10%.
The UK-headquartered firm also announced changes to its bonus awards “in light of the extraordinary year we’ve experienced”. Bonus awards have increased from 5%, 7% and 10% to 5%, 10% and 20%, the firm said in a statement, adding, “we’ve rewarded substantially more people with a bonus this year”.
Hogan Lovells, Simmons & Simmons and Macfarlanes were among the City law firms to increase junior lawyer salaries just last week, with the former upping base pay to £100,000, matching recent moves made by the magic circle.