Top lawyer at City firm attacks £100,000 starting salaries

first_imgFriday 23 October 2020 12:06 pm Also Read: Top lawyer at City firm attacks £100,000 starting salaries And Kirkland & Ellis NQ lawyers can earn up to £150,000 according to The Lawyer’s research, while Latham & Watkins lawyers can enjoy a £130,000 salary. Junior salaries in US firms overshadow their UK-headquartered rivals, with some big firms offering newly qualified solicitors up to £140,000. “The levels of pay in major private practice law firms are completely unsustainable”, Richard Foley, senior partner at Pinsent Masons told the Innovative Lawyers Summit on Thursday. whatsapp Top lawyer at City firm attacks £100,000 starting salaries US firm White & Case this month announced pay for newly qualified lawyers would increase by £25,000 to £130,000 from January and those with two-years experience will receive a £30,000 rise. More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Salaries among the Magic Circle – the UK’s elite corporate firms – are considerably lower than its US lawyers.A&O and Freshfields offer newly qualified lawyers salaries of £93,000 and £100,000 respectively, while Slaughter and May offers £83,000. Share whatsappcenter_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyPast Factory”Waltons” Actress Says Magazine Ended Her CareerPast FactoryNoteableyAirport Security Couldn’t Believe These Jaw-Dropping MomentsNoteableyJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USAbonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterDefinitionThe 20 Worst Draft Picks Ever – Ryan Leaf Doesn’t Even Crack The Top 5DefinitionPost Fun25 Worst Movies Ever, According To Rotten TomatoesPost FunOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute Workout Also Read: Top lawyer at City firm attacks £100,000 starting salaries Some US firms in London don’t have training contract programmes, or have a small intake, so they have pursued an aggressive lateral hire strategy. The senior partner of a top law firm has criticised starting salaries soaring to six figures for some newly qualified solicitors saying they are “unsustainable”. Angharad Carrick US firms are considerably more financially secure, particularly in the wake of the coronavirus pandemic which saw some UK firms pause pay packages and furlough staff.  The growing presence of US firms in the City has subsequently sparked a bidding war for the top talent and pushed salaries comfortably into six figures. “You see stuff in the press about £125,000 as a starting salary for an NQ [newly qualified solicitor]… If I was on the other side of the table, I would be thinking how much more value am I going to get from that person?” he added. Between March and October this year 1,514 deals were announced in the UK valued at $148bn, compared to 6,877 deals in the US worth a staggering $788bn Pinsent Masons currently pays its London-based newly qualified solicitors £72,500. last_img read more