Rises for trainees and other associate ranks
Travers Smith has raised the remuneration of its junior lawyers, with newly qualified (NQ) solicitors now earning a six-figure salary.
The firm confirmed to Legal Cheek that base pay for NQs in the London office has risen by about 11% from £90,000 to £100,000, as of 1 January 2022.
The recent uplift puts the firm’s NQs on the same level of pay as those at Freshfields, Hogan Lovells, Macfarlanes and Simmons & Simmons. Travers Smith’s lot have the potential, however, to earn between £110,000 and £127,000 with firm-wide and other discretionary bonuses.
Travers Smith has also awarded pay rises to associates of other ranks as well as trainee solicitors. First year trainee salaries have increased from £47,000 to £50,000 and from £52,500 to £55,000 for trainees in their second year.
A firm spokesperson said: “This has been an exceptionally busy and challenging year, and the work done by our lawyers at all levels has been key to the success of the firm.”
“In recognition of our lawyers’ commitment and exceptional efforts, we believe that it is right that lawyers at all levels benefit from a pay rise. We have, therefore, increased our lawyers’ salaries at each level of PQE, with effect from 1 January 2022.”
The firm will conduct its regular salary review on 1 July 2022, in addition to this interim review.
Travers Smith has become the fifth and final ‘silver circle’ member to raise junior lawyer salaries in recent months. See below for how they compare.
Silver circle salary standings:
|Firm||Trainee pay (Year 1)||Trainee pay (Year 2)||NQ base rate|