City firms continue to up pay 📈
Baker McKenzie has increased base salaries for newly qualified (NQ) associates in London to £110,000.
The move marks a £5,000 or 5% uplift, with rates previous pegged at £105,000 following a hike in December. Bakers recruits around 33 trainees annually.
Trainee pay remains unchanged — £50,000 in year one, rising to £55,000 in year two — though Legal Cheek recently revealed the firm will pay an additional £4,000 to its future trainees experiencing financial difficulties while studying the Legal Practice Course (LPC). The extra cash, dubbed ‘Baker Boost’, is on top of the standard £10,000 maintenance grant.
Baker McKenzie’s London managing partner Ed Poulton said: “At Baker McKenzie, we believe in rewarding in a fair, consistent and competitive manner. The attraction, retention and development of our people is key to the success of our firm and is at the heart of our strategy.”
He added: “Alongside a competitive salary, fantastic career development opportunities and an extensive package of employee benefits, we are proud to also offer our people the opportunity to work in an inclusive workplace where they can be themselves and thrive.”