£ 95k and £ 83k
Bryan Cave Leighton Paisner (BCLP) is set to increase the salaries of his younger lawyers in both London and Manchester.
The firm has confirmed that newly qualified (NQ) lawyers in London will earn £ 95,000, up 8% from £ 88,000.
The improved rate matches offered NQs at Mayer Brown and Norton Rose Fulbright.
It comes less than half a year from when the company last increased its London NQ salary in June 2021 – from £ 80,000 to £ 88,000.
Trainees’ salaries in London have risen by £ 4,000, with the first year now at £ 48,000 and the second year at £ 52,000.
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BCLP has also hit NQ employees and trainees pay at the Manchester office. NQ salaries are now £ 51,000 (previously £ 50,000), while trainee salaries have risen from £ 27,000 to £ 30,000 in year one and £ 30,000 to £ 35,000 in year two.
The new starting salaries will take effect from January 2022 for associate employees and February 2022 for trainees.
Segun Osuntokun, partner-in-charge UK, said:
“The compensation adjustments are part of a broad, ongoing investment program in our business and in our most important asset – our people.”
Mishcon de Reya has since followed with NQ’s own salary increases. NQ’er in London will earn £ 83,000, an increase of 11% from £ 75,000 in January 2022nd
The new rate surpasses that offered by Addleshaw Goddard, CMS and Eversheds Sutherland, who all pay associates £ 82,000 on qualification.
Mishcon-student salary is £ 42,000 and £ 45,000 respectively for first and second year.
The latest round of pay rises comes amid mounting pressure on UK law firms to close with the mega-paying US ‘MoneyLaw’ firms in London. Silver circle firm Macfarlanes joined last week at the £ 100k NQ pay club.
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