Hogan Lovells hikes NQ pay by 3% as firm raises trainee salaries
Hogan Lovells has upped its trainee pay levels for 2014-15, with newly-qualified (NQ) lawyers gaining the most generous increase.
May 27, 2014 at 06:47 AM
2 minute read
Hogan Lovells has upped its trainee and newly qualified (NQ) pay levels for 2014-15, with NQ lawyers gaining the most generous increase.
The firm's NQs have seen earnings increase by 3% from £63,000 to £65,000.
First-year trainees are set to earn £39,000, marking an increase of £500 on last year's equivalent. Second-year trainees will take home £45,000, up on last year's rate of £44,000. Lovells operates a merit-based pay system for all other levels.
The firm boosted its pay rates at the same point last year, with first- and second-year trainees each gaining an increase of £1,000 on 2012-13 rates and NQ lawyers receiving an extra £1,500.
The new pay rates put Hogan Lovells ahead of Ashurst, which has upped first-year trainee pay rates to £39,000 and second-year trainee salaries to £44,000 this year, while NQ salaries have grown to £63,000.
Salary bands for lawyers with 1-3 years' post qualification experience (PQE) at Ashurst have been frozen at the same rates as last year, when the firm posted increases of £2,000 for lawyers with one year's PQE, £3,000 for those with two years' PQE and £5,000 for the three-year band.
This means pay rates will remain at £69,000 for lawyers with one year's PQE, £77,000 for those with two years' PQE and £85,000 for those at the three-year PQE level.
Hogan Lovells 2014 junior pay bands (2013 in brackets)
First year trainee – £39,500 (£39,000)
Second year trainee – £45,000 (£44,000)
NQ – £65,000 (£63,000)
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