Eversheds Sutherland has increased the salaries of its newly qualified (NQ) solicitors across its London and regional offices, the firm announced today.
London NQs now earn £82,000, up 9% from £75,500, with those in the regions on £50,000, a rise of 11% from £45,000.
Eversheds’ London lot now have the same earning power as those over at CMS, who also earn a recently improved £82,000 upon qualification. They’ve also surpassed the likes of DLA Piper (£76,000), Taylor Wessing(£77,000), and Squire Patton Boggs (£78,000) in the NQ pay league.
The new salaries will take effect from qualification in September.
Lorraine Kilborn, chief people officer at Eversheds, said in a statement: “We are committed to attracting and retaining the best junior talent in the highly competitive UK market.”
She continued: “Our NQs will benefit from the firm’s market-leading training and development programme, Empower, which will equip them with the business and technical skills required for each stage of their careers, from NQ to senior associate, and includes legal knowledge, legal project management, client relationship development, and building their personal brands.”
A growing number of UK-headquartered law firms have upped NQ pay in recent weeks. Pinsent Masons announced salary rises in London and the regions last month, with those in London now earning £75,000, up 3% from £72,500.
Ashurst and Bryan Cave Leighton Paisner bumped NQ rates to £90,000 and £88,000, respectively, while magic circle duo Allen & Overy and Clifford Chance both increased their cash offerings to £100,000.
US firms are increasing salaries too, with reports indicating several elite players stateside have matched the much ballyhooed $205,000 sum. This has led to pay rises for their NQs in London, with many earning above £145,000.