Exclusive: Ashurst hikes NQ solicitor pay to £140k

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By Legal Cheek on

8

Extra cash for trainees too


Ashurst has become the latest City player to increase the salaries of its newly qualified associates with rates moving from £125,000 to £140,000. The is equates to an extra £15,000 or 12%.

The move brings the firm’s NQs level with their counterparts at Baker McKenzie, Hogan Lovells and Macfarlanes, and ahead of those at Herbert Smith Freehills Kramer (£135,000).

Trainee pay has increased to £57,000 in the first year and £62,000 in the second year, up from the previous rates of £52,000 and £57,000 respectively.

The Legal Cheek Firms Most List shows Ashurst recruits around 40 trainees each year.

News of the pay hike came hot on the heels of DLA Piper’s announcement that it had raised NQ salaries by 18% to £130,000.

8 Comments

C

Oh ffs

Incoming NQ

Yoohoo

Meh

Some of the mid-market like Stephenson Harwood, Eversheds etc need to catch TF up lol

Predictor

No way are those shops matching that rate.

I predict soon, silver circle will be 135-150k nq as standard.

MC will feel no choice but to match (at least at nq) US firms – so 160-180k.

The US firms wont go beyond what they are now in London, but will have less salary bunching and bigger bonuses.

R

I heard ES is moving to £120k for NQs

Anonymous

Meanwhile, I’m a 5PQE on £100k, and NQs are paid £97K at my firm (top 30).

What goes up will eventually come down..

Pay bunching is sh*t, and more so when it is due to p*sing contests between firms, and uninspired pay strategy at leadership level. But – the effect of pay bunching is much more of an issue in the regional firms where the rates and differences actually impact on life style and whether people can pay their rents.

Above a certain level, say a six figure salary, whilst it still sucks that an NQ is being paid within £3k of your salary, you can still take comfort in that you can afford your groceries, utilities, and mortgage payments that month and still have some left over for your luxuries. The salary levels reported above at NQ level and above are already at exorbitant levels from the view of the majority of society – legal or non-legal (well, maybe not the investment bankers).

Let’s be real…

If you’re 5PQE and an NQ is on only £3k less than you then you’re a clown for staying put and not moving elsewhere for higher pay.

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