Freshfields Boosts NQ Pay To £100K
The magic circle firm increases its NQ pay by £15,000.
May 07, 2019 at 11:17 AM
2 minute read
Freshfields Bruckhaus Deringer has increased its salary for newly qualified (NQ) lawyers to £100,000.
In addition to the pay increase, NQs will also be eligible for a discretionary bonus, the firm has confirmed.
The firm said in a statement: "We have increased associate salaries with effect from May 1. Our pay offering is a critical part of our talent strategy and reflects our continued commitment to attracting and retaining the very best talent in the legal market. We regularly review our compensation and benefits across the firm with this in mind."
The firm last enhanced its NQ pay three years ago, when new associates saw their pay jump 26% to £85,000, with top performers receiving up to £12,000 by way of a bonus.
The move sees Freshfields NQs overtake their Magic Circle rivals as the best-paid new starters in the group. In August, Clifford Chance uplifted its NQ pay to £91,000, while in December Slaughter and May matched rivals Allen & Overy and Linklaters, paying new starters £83,000.
Last summer, Freshfields raised its salaries for U.S. associates to match the rates set by Cravath Swaine & Moore, paying starting salaries of $190,000 (£143,000), rising to $350,000 (£266,000) for the class of 2009 and above.
Legal Week reported today (May 7) that Freshfields is reviewing its lockstep model, with possible adjustments that include moving high-performing junior partners more quickly up the ladder.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllFCA Fines Metro Bank £16.7M Over ‘Financial Crime Failings’
Milbank Leads Bonus Race, Announces Year-End Pay News
K&L Gates Hires Energy Partner from Gibson Dunn in Singapore
Trending Stories
- 1Who Should Pay? Insurer Wants No Part of $30M Sexual Abuse Settlement
- 2Passenger Sues Frontier Airlines for Burns Sustained From In-Flight Beverage
- 3Who Are Trump's Potential Candidates for Attorney General?
- 4Drugmaker Wins $70.5M After Fed Judge Says Generic Sales Were Blocked
- 5Out of Thin Scienter: Protecting Confidential Information in Light of ‘NVIDIA v. Ohman’
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250