Trainees handed additional £7.5k
Ropes & Gray has turbocharged newly certified (NQ) salaries in London by 13%.
NQs are actually incomes £147,000, plus bonus, up from £130,000, as of this month.
The wage improve means Ropes’ NQs have the identical incomes energy as these at fellow London US regulation companies Akin Gump, Goodwin Procter and Milbank. Vinson & Elkins, nevertheless, continues its reign because the top-paying regulation agency in London the place trainees rake in £153,300 upon qualification.
Ropes & Gray final elevated NQ salaries in February of final yr, from £120k to £130k. Some months later in July 2020 it confirmed it was protecting NQ salaries on the £130k charge while different companies had been compelled to chip away at new affiliate salaries owing to the monetary uncertainty introduced on by the coronavirus pandemic.
In different agency information, Ropes & Gray has raised its trainee salaries in London by as a lot as 15%; first years are incomes £57,500 (up 15% from £50,000) and second years £62,500 (up 14% from £55,000) as of 1 November 2021. The rises match these not too long ago launched at Cleary Gottlieb and Davis Polk.
Ropes & Gray’s London coaching programme has been operating since 2011 and is now made up of 24 trainees.