Also records perfect 100% retention score
The London office of US outfit Weil has increased newly qualified (NQ) lawyer pay to an impressive £145,000.
The fresh uplift equates to an extra £12k, with the firm previously dishing out a salary of £133k. The new six-figure sum is fixed to sterling rather than the dollar, and excludes bonus.
The Legal Cheek Firms Most List shows the outfit’s newbie associates are on roughly the same levels of cash as their peers at Akin Gump, Kirkland & Ellis and Latham & Watkins. Trainees at Weil receive a salary of £50,000 in year one and £55,000 in year two.
A host of US firms have splashed the cash in recent months, with Vinson & Elkins topping the NQ pay table with a whopping £153,400.
Weil’s cash injection comes just months after NQs received bonuses just shy of £8,000 for their efforts during the coronavirus pandemic, while those further up the ladder are understood to have received bonuses of up to 19% of salary.
Separately, Weil confirmed a perfect autumn retention score of 100%, with all seven of its final-seat trainees committing their futures to the firm.