Pinsent Masons Raises NQ Pay Across UK Offices
The firm is the latest to increase rates.
June 18, 2019 at 06:13 AM
2 minute read
Pinsent Masons has become the latest firm to increase pay for its newly qualified (NQ) associates, with rises across its London and regional offices.
The firm has boosted its City salaries for NQ associates by nearly 4%, increasing its rates from £70,000 to £72,500.
Meanwhile, its NQs in its regional bases – across Birmingham, Leeds and Manchester – will be paid £44,000.
In its Scotland offices in Edinburgh, Glasgow and Aberdeen, Pinsents will pay NQs £43,500.
The firm has also raised its trainee pay in its Scottish offices. First-year trainees will take home £24,000, while second-years will receive £27,000.
In England, however, pay packets will stay steady at £41,000 in the first year and £44,000 in the second for London trainees, and £27,000 and £30,000 in the regions.
Pinsents is the latest firm to issue changes to junior lawyer pay, as U.S. firms and Magic Circle rivals alike increase rates across the board.
Last month, Clifford Chance hiked its NQ pay to £100,000, matching Magic Circle rival Freshfields Bruckhaus Deringer.
Fellow Magic Circle counterparts Linklaters, Allen & Overy and Slaughter and May all currently pay £83,000 to NQs.
Ropes & Gray kicked off the rises when it boosted pay for its NQ U.K. associates by 4% in February to £120,000 plus bonus. The firm's previous first-year associate basic rate was £115,000.
In May, Shearman & Sterling increased its NQ rate by 14% to also hit £120,000.
Some firms already pay above that rate, including Skadden, which has paid NQs in London £133,000 a year since last August. Pay for trainees at the New York-headquarted firm also increased in August, with first-year pay now at £50,000, up from £45,000, and second-year pay also increasing by £5,000 to £55,000.
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