The firm has announced a modest 4 per cent increase in NQ salaries from £69,000 per year to £71,500, alongside proportional increases for first-year trainees (up from £40,000 to £42,000) and second-year trainees (up from £45,000 to £47,000). The remuneration sweetener comes as the Chicago-headquartered firm posted a lackluster retention result for its City qualifiers this week, with just six out of a total pool of nine qualifying trainees committing to permanent positions at the firm. While remuneration for the NQs will be line with that of fellow juniors at Slaughter & May, Travers Smith and Hogan Lovells from 1 September, it is still a fair step behind associates at City firms like Clifford Chance, Freshfields and Jones Day who take home £85,000 per year.
Source: Legal Cheek
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