From £58,000 in regions
Shoosmiths has raised newly qualified (NQ) solicitor salaries in London and the regions by 16%.
London NQ rates will rise from £75,000 to £87,000, the firm confirmed today, whilst the salaries of those qualifying in its regional offices will increase from £50,000 to £58,000. The new salaries will take effect from 1 November 2022.
Shoosmiths offers about 30 training contracts each year across nine city centres including London, Birmingham, Leeds and Manchester. NQs in the Thames Valley office previously on £55,000 will also receive a 16% pay rise.
Shoosmiths chief executive officer, David Jackson, said in a statement: “In a highly competitive market for talent, we are committed to providing competitive pay within a positive, engaged working environment that emphasises culture, learning and development and quality of work.”
UK-headquartered law firms have faced increased pressure in recent years to up the amount they pay junior lawyers and compete with the six-figure salary offerings at some US law firms in London. Pinsent Masons last month increased NQ rates to £96,000 in London and £61,000 in the regions. Earlier in April, Addleshaw Goddard moved NQ rates to £95,000 in London and up to £62,000 in the regions.