Potential to earn £145k+ with bonus
International outfit Hogan Lovells has increased the salaries of its most junior lawyers in London.
The firm confirmed base rates for its newly qualified (NQ) associates will move from £100,000 to £107,500 — an extra 7.5%.
As part of the increase, effective from 1 May 2022, NQs will also be eligible for performance related bonuses of up to 35%. This gives the firm’s rookies potential earnings of up to £145,125.
Our 2022 Firms Most List shows that this puts NQs on the same base rate as their counterparts at magic circle firms Allen & Overy, Clifford Chance, Linklaters and Slaughter and May.
Last year Hogan Lovells increased NQ pay to £90,000, having temporarily cut it to £85,000 in response to the “challenges and uncertainties” presented by the Covid-19 pandemic.
Last Friday Freshfields set down the marker for magic circle rivals when it increased NQ pay to £125,000, while Addleshaw Goddard this week raised salaries to £95,000.