Extra cash for trainees too
Baker McKenzie has become the latest law firm to up the salaries of its most junior lawyers, with a new and improved base rate of £105,000.
The move, which takes effect from March 2022, equates to an extra £15,000 or 17%. NQs currently receive a base salary of £90,000.
Trainees will also see their salaries increase, with year one pay moving from £48,000 to £50,000 and year two from £52,000 to £55,000.
The extra cash means NQs at Bakers will soon earn the same as their equivalents at Herbert Smith Freehills and will be £5k better off than those at Freshfields and Slaughter and May.
At the same time, Bakers said it had taken the “unprecedented decision” to bring forward its salary review for fee earners from July to March.
All associates, including NQs, are eligible to receive a discretionary bonus on top of their base rates.
Ed Poulton, Bakers London managing partner, commented:
“As a firm, we remain committed to the attraction and retention of the very best talent. Aside from competitive remuneration, we are proud of the opportunities and inclusive culture Baker McKenzie can offer which includes enhanced wellbeing, a dedication to inclusion and diversity and brilliant career opportunities, all of which makes our firm an attractive place to work. We want people to be able to develop and achieve their full potential here.”
The Legal Cheek Firms Most List 2022 shows Bakers provides around 33 training contracts each year.
