Herbert Smith Freehills’ highest-paid NQ lawyers will soon be receiving £90,000 per year, including bonuses, on a new pay scale that has lifted the NQ base salary 19 per cent from £69,000 per year to £82,000 per year. Meanwhile, the base salary for trainees is up 4.8 per cent to £44,000 for first years and 4.3 per cent to £48,000 for second years. Similar raises have been allocated across HSF’s first, second and third year associates; high-performing first years will now have the potential to earn up to £95,000 per year including bonuses, rising to £107,000 for second years and £122,000 for third years.
Investing in talent
The latest increases follow in the footsteps of raises announced last year by HSF which benefited lawyers at all levels but focused resources on those with three or more years’ post-qualification experience. ‘Offering competitive overall compensation packages at all levels is a major aspect of bringing the best together as we continue to build a world-class professional services firm,’ commented HSF UK, US and EMEA managing partner Ian Cox, adding that the pay raises are an ‘investment in the firm’s future.’
Sources: The Lawyer; Legal Week
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