Baker McKenzie and Travers Smith boost NQ pay
updated on 22 July 2024
Baker McKenzie and Travers Smith LLP have become the latest law firms to announce increases in pay for their newly qualified (NQ) lawyers.
The salary for NQs at Baker McKenzie’s London office, effective as of 1 July, has jumped 19% to £140,000, matching the likes of Macfarlanes LLP as the pay war across the industry continues. On top of the NQ pay boost, Baker McKenzie has also increased pay for its trainees, with first-year trainee pay now at £56,000 (up from £50,000) and second-year trainee pay at £61,000 (up from £55,000). This boost is effective as of 1 September.
Travers Smith also revealed movement in pay for its junior lawyers. A 9% boost has seen its NQ pay reach £120,000 with the potential for NQs to earn an additional £20,000 bonus, according to Legal Cheek. Trainee pay has been bumped to £54,000 (up from £50,000) for first-year trainees and £59,000 (up from £55,000) for second-year trainees.
As the industry continues its battle for talent, which firm will be next to boost NQ pay?
