The firm has added that trainees are also set for a pay rise with year one trainees to receive £44,000 increasing to £49,000 in year two. Previously newly qualifieds were paid £71,500, first year trainees £43,000 and second year trainees £48,000.
Brought into line with counterparts
It is widely thought that the new salaries for newly qualifieds bring it into line with those at magic circle firms Clifford Chance and Linklaters. Increases are effective from the 1 May.
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