Jones Day NQ lawyer salaries rise to £140k
Extra cash for trainees too
Jones Day has increased salaries for its newly qualified (NQ) solicitors in London by 27%, taking pay from £110,000 to £140,000.
The US firm’s City rookies have also had extra cash chucked their way. First years trainees will now receive £54k, whilst £61k will be the base rate earnt by second years. The firm currently offers around 20 training contracts annually.
The Legal Cheek Firms Most List 2022 shows that this latest NQ pay rise puts Jones Day on par with other US firms such as White & Case, Dechert and Cleary Gottlieb Steen & Hamilton.
Jones Day has been approached for comment.
Exchange rates have recently favoured NQs at US firms with Akin Gump’s new qualifiers receiving £179,000 after a new conversion rate from US dollars to pound sterling was set by the firm.
But some outfits have remained cautious about further pay hikes for juniors. The most prominent of these are Magic Circle duo Allen & Overy (A&O) and Linklaters, which have both kept NQ rates at £107,500 — for now, anyway. A&O explained that “after careful consideration of the market and with economic conditions becoming more challenging”, it would hold off on any further rises. Links, meanwhile, says it’s “continuing to review” its position on pay.
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This makes firms like Reed Smith, Mayer Brown, Hogan Lovells, etc, look cheap.
More makes Jones Day look silly – clearly not in competition with w&c or cleary etc.
They’ve matched w&c…
Anon Anon Anon
I assume this person meant not in competition with regards to work or reputation, rather than cash.
This is unquestionably true. Jones Day is not well regarded in the states.
Reed Smith Trainee
Reed Smith will be upping to £125k very soon
Actual RS trainee
Fake – not a whisper in the firm about this.
Reed Smith Trainee
If you’ve heard nothing that’s your on you and your partner. I have it on good authority it is happening.