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Shearman’s Put The “Sterling” Back Into London Pay Rates

Shearman's Put The "Sterling" Back Into London Pay Rates 2

The battle for the newly qualified lawyers in London continues with US-based Shearman & Sterling lifting its salaries by 14 per cent to £120,000.

The hot competition for NQs in London has been driven by the major US law firms, but increasingly the Magic Circle firms have had to lift their offerings to compete, the latest being Freshfields’ salary hike.

For Shearman, the pay has also increased for longer qualified solicitors also, with mid-year associates with over three years’ experience rising from £138,000 to £148,000 and pay for senior associates with over six years post-qualified experience obtaining a rise from £165,000+ to £175,000 according to LegalCheek.

The increase puts Shearman & Sterling’s pay rates on a similar level to their competitors Cleary Gottlieb, Ropes and Gray and Davis Polk.

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Shearman & Sterling