Exclusive: Matches Magic Circle rivals Clifford Chance and Freshfields
Linklaters has increased newly-qualified (NQ) solicitor pay to £125,000, Legal Cheek can reveal.
NQs in the London office have seen their salaries increase by 16% from £107,500 to £125,000 as of 1 May.
Linklaters pays trainees £50,000 in their first year, rising to £55,000 in their second year, meaning their salaries more than double upon securing an NQ position at the firm. This is just the base rate, with any bonus applied on top taking total NQ earnings to an even higher sum.
Links rookies are now remunerated the same as their peers at fellow Magic Circle firms Clifford Chance and Freshfields. Allen & Overy, meanwhile, pays NQs £107,500 upon qualification, whilst Slaughter and May pays £115,000, according to our 2023 Firms Most List.
News of the pay rise comes almost one year on from when we exclusively revealed the firm told its juniors it won’t “rush” into matching the salaries offered by some of its closest rivals. It said at the time it’d consider “the impact of any changes and the wider economic context”.
In its latest financials the firm recorded revenues of £1.78 billion and a 5% increase in profit per equity partner (PEP) to £1.87 million.
Linklaters is one of the largest training contract providers in London, offering 100 places each year, topped only by Clifford Chance who provide 110.