International firm Baker McKenzie and City firm Travers Smith are the latest to announce salary boosts for newly qualified solicitors and trainees.
Baker McKenzie confirmed today that its London NQ salary will increase by 18.6% from £118,000 to £140,000, with the changes effective from 1 July.
Trainee salaries within the firm will also be increasing from 1 September. First year trainees will receive £56,000, from £50,000, and year two trainees £61,000, up from £55,000.
Travers Smith’s annual NQ salaries have risen from £110,000 to a base of £120,000 – a 9% rise – with the potential to earn up to £20,000 as an additional bonus during the financial year.
Trainee salaries have also been given a boost. Year one trainees will receive £54,000, up from £50,000, and year two £59,000, an increase from £55,000. The Travers Smith changes took effect from 1 July.
