£10k hike
International law firm Herbert Smith Freehills Kramer has announced that it has increased the salaries of its newly qualified associates in London to £145,000 — up from £135,000.
The boost, effective from today (1 July), comes after City giant Herbert Smith Freehills and US law firm Kramer Levin merged to create HSF Kramer last month.
The £145k rate takes the newly-formed firm ahead of fellow City outfits Ashurst and Hogan Lovells — both of which raised NQ pay to £140k this summer — and approaches the £150k figure doled out to Magic Circle NQs.
The Legal Cheek Firms Most List shows that HSF Kramer takes on around 60 trainees each year.
Commenting on the firm’s salaries, Jeremy Walden, executive partner, UK & EMEA, at HSF Kramer, said:
“We invest in our people at every stage of their careers through a balanced and competitive reward structure. As one of the leading global law firms in today’s fast-moving market, this is important for us to be able to strengthen the experience we deliver to our clients, to maintain our firm’s culture and to ensure the firm’s continued success and growth.”
This is the latest in a slew of NQ pay rises over the last few weeks, with firms like DLA Piper (£110,000 to £130,000) and CMS (£110,000 to £120,000) as well as Bird & Bird (£98,000 to £102,000), Eversheds Sutherland (£100,000 to £110,000) and Pinsent Masons (£97,000 to £105,000) all announcing summer boosts to their most junior lawyers’ salaries.
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