Pinsent Masons has responded to the ongoing pay war among the UK’s national firms by unveiling a 19% pay hike for its newly-qualified (NQ) solicitors in the City.
Legal Week can reveal today (2 July) that NQ lawyers in the capital will take home £63,000, up from £53,000 during the equivalent period last year.
NQs at the top 20 UK law firm’s regional offices in Birmingham, Manchester and Leeds will earn £40,000 during the 2007-08 term – a 14% hike from the £35,000 on offer in the regions last year.
Meanwhile, those based at Pinsents’ offices in Edinburgh and Glasgow will pocket £34,000 - a more modest increase of 6% on last year’s mark of £32,000.
The new pay bands, which took effect from 1 July, match the rates set by national rival Addleshaw Goddard last month, which broke the symbolic £40,000 mark for junior lawyers outside London for the first time.
DLA Piper responded with a 19% salary increase for NQ lawyers in the City to £63,000. The transatlantic firm lifted regional salaries by just 4% in the regions to £36,500, although junior lawyers in Manchester, Leeds and Birmingham will receive an additional pay-rise to at least £39,000 in January 2008.
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