Ropes & Gray.Ropes & Gray Lifts NQ Pay to £130K
The London office joins the raft of firms lifting salaries across the City.
February 13, 2020 at 06:08 AM
2 minute read
Ropes & Gray is the latest firm to boost the salaries of its newly-qualified (NQ) lawyers in London, the firm has announced.
New associates at the firm can now expect to receive an extra £10,000, taking home £130,000. NQs are also eligible for a discretionary bonus on top of their salaries.
The pay increase comes almost a year after London firms confronted an NQ pay war in a bid to attract and retain junior talent, triggered by Magic Circle firm Freshfields Bruckhaus Deringer, which raised its NQ pay to £100,000, joining a U.S.-led trend of lifting NQ pay into the six-figures.
Other firms following the trend included Linklaters, Allen & Overy, Hogan Lovells, Travers Smith, and more.
Though his firm raised its NQ pay, at the time Linklaters' managing partner Gideon Moore slammed the the pay war, saying: "You have to ask the people who started this process what exactly they expected to achieve from it."
Last year, Ropes boosted its trainee salaries in London by £4,000 for first-year trainees – who can now earn £50,000 a year – and by £5,000 for second-year trainees, who now earn £55,000 a year.
Last month, Slaughter and May became the first firm this year to raise pay for associates who have a minimum two and a half years post-qualified experience (PQE), though the firm did not disclose the amount.
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