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updated on 29 June 2021
Law firms including Allen & Overy, Pinsent Masons and Bryan Cave Leighton Paisner (BCLP) have increased the salaries for their newly qualified (NQ) lawyers in the UK in response to NQ salary surges in the US.
Allen & Overy has equalled fellow magic circle firm Clifford Chance’s recent pay increase, with the firm’s NQ lawyers in London now set to earn £100,000. They will also receive a discretionary bonus, plus a £10,000 signing-on bonus, the firm has announced.
BCLP, Ashurst and Pinsent Masons have increased their London NQ salaries by 10%, 5% and 3% respectively. Junior lawyers at BCLP can now expect to receive £88,000 from July and those at Ashurst will earn £90,000. Pinsent Mason NQs’ salaries have been increased to £75,000 in the City, and £45,000 at its regional offices. NQs at BCLP and Ashurst could be in line to receive bonuses on top of their increased earnings subject to them hitting certain targets.
Meanwhile, NQ lawyer salaries at US law firm Sidley Austin have been increased by 8% to £148,500, with those higher up the associate scale due to earn more – for example, someone who qualified in 2012 will now receive £272,000.