Freshfields sets down marker for magic circle rivals as it boosts NQ lawyer pay to £125k

Bonus on prime

Freshfields has elevated newly certified (NQ) solicitor pay by 1 / 4 to £125,000, setting down the marker for its magic circle rivals to comply with go well with.

The agency as we speak confirmed after months of hypothesis that NQ base charges have moved by a hefty 25% from £100,000 to £125,000, efficient 1 Could 2022. NQs are additionally eligible for a discretionary bonus on prime of the sizeable six-figure sum.

Claire Wills, London managing accomplice, stated in an announcement:

“We have increased our NQ salary rate to £125,000 with effect from 1 May 2022. We remain focused on attracting and rewarding the highest quality talent to deliver excellence for our clients. We believe that our package of financial and non-financial incentives, including paid qualification leave and career development opportunities, underpinned by effective work allocation and an inclusive working environment, offers a truly market-leading proposition.”

Freshfields presents 80 coaching contracts annually and pays trainees £50,000 in yr one, rising to £55,000 in yr two.

The key cash transfer means Freshfields now presents the very best NQ wage of the 5 magic circle companies. Allen & Overy, Clifford Probability, Linklaters and Slaughter and Could all pay £107,500 upon qualification, our 2022 Companies Most Record exhibits.

Freshfields was the primary of the fivesome to improve NQ base charges to £100k again in Could 2019, igniting a pay struggle throughout the Metropolis. Likelihood is it might do the identical once more.

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