The last of the big Magic Circle firms to life its newly qualified pay rates has happened with Linklaters now lifting its NQ rate to £100,000.
The pay rise follows Slaughter & May’s pay rise and increases recently by Freshfields. The rise includes a discretionary performance bonus as well and follows moves by all the major City law firms in the wake of major pay rise moves made by the large US law firms.
The American firms remain ahead of the City pack with their NQ salaries and high bonuses, making the highest pay rates for their solicitors.
Linklaters offers more training contracts than any of the other major firms – over 100 annually – and its pay rise from £83,000.