News
City pay increases for trainees and NQs
- 23rd June 2010
Newly qualified solicitors and trainees at city giant Herbert Smith are to enjoy a higher salary after the firm increased its NQ and trainee pay bands.
Most of the firm’s associate pay bands will remain at last year’s rates but trainees will receive £1,000 more bringing their salaries up to £61,000.
First and second year trainees will receive £38,000 and £43,000 respectively – an increase of £500. The firm said the increases are to ensure the firm remains competitive. And Slaughter and May has announced it is to increase its associates’ pay up to the next pay band, however it will not be increasing trainees’ or NQs’ salaries.
Meanwhile, NQ retention rates are slowly on the up with Baker & McKenzie to retain 95% of its trainees in September. Shearman & Sterling has revealed that it is retaining 92 per cent of its NQs.
-
