Future rookies to obtain £10.5k in monetary help
The London workplace of US regulation titan Latham & Watkins has upped trainee lawyer pay by as a lot as 10%.
Authorized Cheek can reveal first yr trainees will now obtain a wage of £50,000, up 9% from £46,000, whereas these of their second yr will earn £55,000, up 10% from £50,000. The rises are efficient from 1 March.
Our Firms Most List exhibits that the uplifts put the agency’s rookies on the identical ranges of money as their counterparts at a number of US outfits, together with Kirkland & Ellis, Ropes & Gray, Sidley Austin and Weil Gotshal.
Upon qualification, UK associates obtain a wage of $190,000 (round £137,000 primarily based on present conversion charges).
Latham, which recruits round 24 trainees every year, additionally confirmed it had upped its Submit-graduate Diploma in Regulation and Authorized Apply Course upkeep grants to £10,500 — an increase of 31% from £8,000. The boosts will take impact from 1 August.
Earlier this week Authorized Cheek reported that fellow US participant Goodwin Procter had bucked the COVID pay reduce pattern, upping London NQ salaries by 10% to £137,500.