Trainee salaries to be reviewed in the summertime
Goodwin Procter has elevated the salaries of its newly certified (NQ) solicitors by 10%.
NQs on the London workplace of the US agency have seen their salaries soar from £125,000 to £137,500.
In the meantime, trainee solicitor salaries, which at the moment stand at £46,000 in yr one, rising to £50,000 in yr two, are anticipated to be reviewed in the summertime.
Immediately’s huge cash transfer brings Goodwin’s NQ wage additional in step with its US rivals’ in London. Sidley Austin and Davis Polk & Wardwell pay their new associates comparable ranges of money, in line with our Firms Most List.
But, the wage hike nonetheless falls wanting the pay packets awarded by the US corporations that sit atop the NQ pay league, the place the likes of Akin Gump and Kirkland & Ellis pay their new associates dollar-tied salaries of round £150,000.
US corporations in London seem to have bucked the COVID NQ pay cut trend seen throughout world elite and magic circle legislation corporations as they proceed to splash the money on their new associates, and in some cases, hand out sizeable bonuses. A few of the magic circle are maintaining appearances by growing NQ salaries albeit not fairly to their pre-pandemic ranges.