NQ lawyer salaries at Weil hit £150k
Elsewhere HFW increases by 16% to £85k
The London office of US outfit Weil Gotshal & Manges has increased newly qualified (NQ) solicitor salaries by just over 3%.
The move means the firm’s most junior lawyers will now earn an impressive base rate of £150,000, an increase of £5,000 from £145,000.
Our Firms Most List shows the cash injection puts Weil’s NQs on a par with their opposite numbers at fellow US players Latham & Watkins and Skadden.
Trainees currently earn a market-topping £60,000 in year one, rising to £65,000 in year two.
Elsewhere, HFW has boosted NQ salaries by 16% from £73,500 to £85,000. The pay uplift will “cascade upwards for other associates”, according to the firm.
It has also dished out one-off bonuses of up to £10,000 to associates who meet certain performance-related criteria. This is in addition to annual performance-related bonuses.
Other firms to provide an NQ rate of £85,000 include Fieldfisher and Gowling WLG.
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Hard to believe Ropes is still at £147k
Chin up soldier
Is a 3 grand difference really that big of a deal?
Especially when at 140-150k?
Psychology of salaries
It’s perception, makes it look bigger than it actually is.
That’s what she said
It’s not 3k. Ropes should be raising to the £160k mark.
It’s the fact that up the tree they pay about 30% less than their peers. It’s not about the NQ rate which is relatively competitive.
Ropes basically bunch quite a bit. Around £100k base difference when you get to 5/6 PQE.
PQE RG (Base)
do the bonuses make up for that at all? or do they just underpay compared to other similar firms?
A different Ropes senior
Some of these numbers are not correct.