12 months one rookies now on £57.5k
Milbank has boosted the salaries of its trainee solicitors in London by as a lot as 15%, Authorized Cheek can reveal.
The cash transfer means 12 months one trainees now earn £57,500, an increase of 15% from £50,000, whereas these a 12 months forward will obtain £62,500, a 14% bump from £55,000. Newly certified associates presently earn a wage of £158,480.
The Authorized Cheek 2022 Companies Most Listing exhibits the agency’s second 12 months trainees are actually among the many highest paid within the Metropolis, with solely a choose few US outfits together with Akin Gump, Cleary Gottlieb, Davis Polk and Ropes & Grey offering the identical five-figure sum.
The very best trainee wage up for grabs is courtesy of Weil Gotshal, with a recently-improved 12 months two fee of £65,000.
Milbank supplies round seven UK coaching contracts annually and chalked up an A for coaching in our newest Trainee and Junior Lawyer Survey.
Away from the dizzying heights of Metropolis regulation, analysis launched this week by authorized recruiter Douglas Scott confirmed that one fifth of rookie solicitors within the capital have been being paid under the Legislation Society’s advised minimal wage of £22,794.