Hogan Lovells unfreezes pay and announces new rates for year ahead
Hogan Lovells has become the latest firm to restart lockstep progression and increase associate salary bands for the financial year ahead. The pay increases, first reported on legal blog RollOnFriday, will see newly-qualified (NQ) lawyers now take home £60,000, a small increase on last year's adjusted rate of £59,000, while first seat trainees will now be paid £37,000.
May 21, 2010 at 09:07 AM
2 minute read
Hogan Lovells has become the latest firm to restart lockstep progression and increase associate salary bands for the financial year ahead.
The pay increases, first reported on legal blog RollOnFriday, will see newly-qualified (NQ) lawyers now take home £60,000, a small increase on last year's adjusted rate of £59,000.
Prior to last year's pay freeze, legacy Lovells NQs earned £65,000.
Although the firm refused to comment on the bands beyond NQ level, it is understood that first-year qualified lawyers will now earn £67,000, while associates with two years' experience will take home £72,000 and third-years £81,000.
First seat trainees will continue to be paid £37,000.
The increases keep the firm marginally below magic circle levels in terms of salary.
Hogan Lovells' decision to unfreeze pay follows similar moves by other major UK firms, including Freshfields Bruckhaus Deringer and Slaughter and May.
Freshfields increased its NQ rate by £1,000 to £60,000, while one-year qualified lawyers received a £2,000 raise to £68,000. Lawyers with two years' experience will now take home £75,000, while the third year-rate is unchanged at £86,000.
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