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Milbank bumps trainee pay to £62.5k

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Year one rookies now on £57.5k

Milbank has boosted the salaries of its trainee solicitors in London by as much as 15%, Legal Cheek can reveal.

The money move means year one trainees now earn £57,500, a rise of 15% from £50,000, while those a year ahead will receive £62,500, a 14% bump from £55,000. Newly qualified associates currently earn a salary of £158,480.

The Legal Cheek 2022 Firms Most List shows the firm’s second year trainees are now among the highest paid in the City, with only a select few US outfits including Akin Gump, Cleary Gottlieb, Davis Polk and Ropes & Gray providing the same five-figure sum.

The 2022 Legal Cheek Firms Most List

The highest trainee salary up for grabs is courtesy of Weil Gotshal, with a recently-improved year two rate of £65,000.

Milbank provides around seven UK training contracts each year and chalked up an A for training in our latest Trainee and Junior Lawyer Survey.

Away from the dizzying heights of City law, research released this week by legal recruiter Douglas Scott showed that one fifth of rookie solicitors in the capital were being paid below the Law Society’s suggested minimum salary of £22,794.

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19 Comments

Justin

Can anybody confirm what RPC raised NQ rates to?

(2)(5)

Can it be?

They’ve finally raised??

(6)(2)

DLR Cleaner

Complete Chinese whispers, but also heard this – and heard that it’s pretty decent too.

(0)(2)

Jim

Four fiddy and a sixpence. Per week. Per limb. Add it up and come back at me.

(4)(0)

RPC Associate

London up to either £80k or £85k depending on practice area. Bristol up to £56k

(12)(1)

KIRKS NQ

lmaooooooo otal weaksauce

(0)(3)

Anon

US trainee salaries will be at MC NQ levels within a year at this rate

(39)(5)

Yi Xhan

why would anyone wanna train at this law firm. it’s literally just finance and more finance. no corporate or contentious practice of note 🙄

(29)(12)

Anon

Salary is a joke compared to IB

(11)(34)

Whis

Really? Pray tell

(1)(0)

Frustrated Trainee

When will Latham match?

(5)(7)

Roger That

Who cares? In two years you’ll be qualified and on > £150,000. You’re not going to look back and wish you’d made a couple of thousand extra as a trainee.

(8)(4)

Frustrated CC trainee

it’s all about the training

(2)(0)

Another Frustrated Trainee

If you think Latham’s bad, try being at White & Case! 😞

(0)(2)

Debts and DD

This is a question to anyone with the goodwill or sheer boredom to answer:

First seat trainee at a US firm similar to that in the article above, so years one and two are in the fifty-ish range. Qualification, which is by no means a given obvs, will lead to the big ol’ six figure salary which the authors of these articles love writing about so much.

Student debt is currently a cool £40k with interest due to hit 4.5% once they process my new employment details. Basically, what is the standard strategy for people in my position (trainee with a relatively decent whack and a predictable but as of yet unguaranteed future income) with regard to paying off their student loan? Had a look at a few Martin Lewis pieces but there’s only so much of those things a guy can read..! I may or may not have the savings to be able to pay the whole thing off in one go (with precisely £0.54 left).

Ta in advance; maybe LegalCheek will make a discussion about this?

Cheers in advance

(3)(5)

OP

Yes I am still learning to proofread.

(0)(0)

Reuben

If you need advice on how to best manage your finances, then speak to somebody in wealth management.

If you are considering whether or not to stay at a US firm in order to be in a better position to pay off that debt, then my suggestion is that should not be the primary motivator. Find a practice area you are genuinely interested in and a firm you are genuinely happy at. If you do, then you will hopefully set yourself up for a rewarding career that will keep you in practice. The money will eventually follow, or at least you’ll be happy and make a fair living.

(8)(2)

Captain Troll

Reasonable, accurate and helpful responses are not wanted here. Go away.

(2)(0)

Roops

OK…

🐔 🍲

(0)(0)

Comments are closed.

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