Freshfields Bruckhaus Deringer boosted pay for its newly qualified lawyers in London by 20%, setting a new standard for UK-based firms.
New qualified attorneys are now paid £150,000 ($188,000), up from £125,000 ($157,000) in the past. First year trainees will be paid £56,000 ($70,000) from $50,000 ($63,000) and second year trainees will receive £61,000 ($77,000) from £55,000 ($69,000), according to the firm. The new salaries came into effect on May 1.
“This move follows a year of strong growth for the London business, thanks to the dedication of all our people,” said Mark Sansom, London Managing Partner in a statement. “It also reflects our confidence in the firm’s continued market leadership across all our London practices, further boosted by the success of the material investments in the US and other markets.”
Major law firms firms historically have moved to match competitors with junior lawyer compensation.
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