Trainees and newly-qualified (NQ) solicitors at several City law firms continue to enjoy salary increases as the legal industry’s major players vie to attract and retain their top talent.
Recent joiners and qualifiers at Ashurst, Norton Rose Fulbright and Travers Smith will enjoy increases of up to 6% to their annual financial remuneration. First-year trainees at Ashurst will have their salary bumped up to £44,000 from £42,000, whilst year-two recruits will receive £48,000. At Norton Rose Fulbright incoming trainees will benefit from a 2% rise to the firm’s trainee remuneration rate and receive a £45,000 salary. On progression to year two, they will earn £49,000. Peers at Travers Smith can boast of a year-one salary that sits at £45,000 – a 3% increase from what former trainees received – and a year-two paycheque with a hefty £50,500 figure.
Upon qualification, NQs at Ashurst will earn £76,000 up from £72,000. Those at NRF will experience a 2% increase in NQ salary and thereby cash in £77,000 a year, and at Travers Smith a 5% increase means NQs will receive an additional £3,500 for their year-long efforts, taking their salary to £78,500.