Mayer Brown matches Magic Circle NQ pay at £150k

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By Legal Cheek on

16

Exclusive: Extra £15k


The London office of international law firm Mayer Brown has increased the salaries of its newly qualified (NQ) associates by 11%.

The uplift means fresh-faced juniors will now earn £150,000, up from £135,000 — bringing the Chicago-founded firm in line with the Magic Circle on NQ pay.

The Legal Cheek Firms Most List shows Mayer Brown takes on up to 14 trainees each year.

As well as matching the Magic Circle, the pay rise sees Mayer Brown overtake firms such as Baker McKenzie and Herbert Smith Freehills Kramer (both £145k), as well as Ashurst and Hogan Lovells (both £140k).

Summer NQ salary rises so far 🤑

Firm Location NQ Salary (Before) NQ Salary (After) Increase
Mayer Brown London £135,000 £150,000 £15,000
Baker McKenzie London £140,000 £145,000 £5,000
Herbert Smith Freehills Kramer London £135,000 £145,000 £10,000
Hogan Lovells London £135,000 £140,000 £5,000
Ashurst London £125,000 £140,000 £15,000
DLA Piper London £110,000 £130,000 £20,000
Travers Smith London £120,000 £130,000 £10,000
CMS London £110,000 £120,000 £10,000
CMS Bristol £70,000 £76,500 £6,500
CMS Manchester / Sheffield / Liverpool £62,000 £68,000 £6,000
CMS Edinburgh / Aberdeen / Glasgow £60,000 £68,000 £8,000
Gowling WLG London £98,000 £105,000 £7,000
Gowling WLG Birmingham £64,000 £65,500 £1,500
Gowling WLG Leeds £64,000 £65,500 £1,500
HFW London £100,000 £103,500 £3,500
Mishcon de Reya London £95,000 £100,000 £5,000
RPC London £80,000 – £90,000 £85,000 – £95,000 £5,000
RPC Bristol £56,000 £60,000 £4,000

16 Comments

Links Laters

When will MC go to 165?

ItsHappening

They’ll probably got to 170

Links Laters

Good if so… lifestyle creep is hitting me

Mmmm

That’s sad they should do 185 at least

Curious

The MC will inevitably increase NQ salaries now too. The question is high how will they go?

I like money

Definitely will increase. Will it be now or next april/may? It’s normally in the spring

MB future class of 26

Great news – any word on trainee salaries going up?

Klaxon

Calm down and back to your textbooks son.

I like money

All you delayed high street people need to stop harassing students for contributing to the thread of this student newspaper

US Trainee

Thank God – 135k really wasn’t enough. MC firms are being left in the dust.

I like money

Working at a top US firm as an associate is a scam. You get an extra maybe 10k after tax, worse training, very toxic environment, much lower chance to own any real equity one day, and the partners strip the life out of you with billable hours to fund townhouses and ferraris. MC is obviously not a 9-5 either but US firms really double the stress for barely any extra dosh. As an EQUITY partner tho US firm any day who wouldn’t want that. That way you can make 5/10m off the backs of the poor enslaved associates aforementioned.

This is the most ridic comment i've ever read

I jumped from MC firm to elite US and cleared nearly 120k more last year than the same class year at my old firm. I do the exact same hours. In fact it’s easier to hit my target here as there is less fee pressure from clients and you don’t really get docked for block billing.

Misleading

If what you’re saying is even remotely true, you’re v high PQE. Say your salary net of tax, compared to what it would be at MC net of tax. It is not gonna be more than a fraction higher. Also, please let us know what US firm thus is that works you no longer than MC. We’d all love to join as have not heard anyone else say the same!

D

Would you mind giving a hint on what US firm you’re at?

Mythbusters

The experience at MC firms is highly variable, there are certainly teams where one can be well paid for relatively tolerable hours. I know of junior associates at MC firms who rarely work weekends and their hours aren’t that long (obviously not a 9-5). However, there are many people in the MC who work very long hours and comparably so to US firms. Of course, there are also certain corners of US firms where hours aren’t so bad.

As a rule, US firms in London are inclined towards the most profitable areas of law, most demanding clients, and a leaner business model. So the average US law firm associate may work slightly harder than the average MC associate. However, MC firms are also trying to pursue these very high profitability segments of the market and the associates within those groups will be working very long hours (reasons may include client expectations, poor work allocation, staffing shortages or simply trying to get ahead).

My advice, which no one here asked for, is that each individual lucky enough to work in the MC or at a top US firm should look at their own individual circumstances to determine where they are better off.

However, the blanket statement that all US law firm associates work harder than MC associates is a myth (usually perpetuated by people/firms not willing or able to pay US rates).

On the point of salary, it is true that the delta between US and MC becomes most noticeable as PQE increases. It is not true that at the junior level the gap is negligible, there are plenty of 1pqe associates in MC firms grinding 1900+ hours on 150-155 a year and bonuses may be very small (AOS cap bonuses at 5k for junior associates). The equivalent associate at a cravath firm is taking home somewhere around 180-190 for similar hours. Some say that’s not much more after tax, over the course of a year that alone would allow you to save as much as the average UK adult has in savings.

Each to their own.

Anon

Where does legal cheek get this information from? Where does MB publish this information?

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