Freshfields Bruckhaus Deringer has ramped up trainee pay by over 6 per cent, however is not going to be making any adjustments to its salaries for newly-qualified (NQ) legal professionals.
First yr trainees will choose up £45,000 as an alternative of £43,000, whereas second yr trainees will take dwelling £51,000. This represents an increase of 6 per cent on final yr’s £48,000.
Pay is not going to change for NQs, that means the agency has not budged on pay ranges since 2016.
Elsewhere within the magic circle, Clifford Probability has additionally upped its trainee pay, exceeding Freshfields’ supply. Clifford Probability has elevated salaries from £46,600 and £52,500 for first and second years respectively.
Not like Freshfields, Clifford Probability has boosted NQ pay from £87,300 to £91,000. The determine features a binary bonus, which is a discretionary reward for its legal professionals.
Each corporations earlier this yr matched Cravath Swaine & Moore’s wage scale of their US places of work, through which NQ pay would enhance to $190,000, equal to $148,000. Linklaters and Allen & Overy adopted swimsuit.