Ashurst has upped its salaries for London-based trainees and newly-qualified lawyers (NQs) after a two-year freeze on pay.
First-year and second-year trainees will take home £1,000 more, up from £38,000 and £43,000 respectively, from levels set in 2012.Newly-qualified (NQ) lawyers will receive a slightly larger increase, up to £63,000 from £61,000.
The increases are the first post-merger salary changes the firm has made since its combination with legacy firm Blake Dawson in November 2013.
However, Ashurst confirmed its spot rates for lawyers of one, two and three year’s post-qualification experience (PQE) will remain static, having gone up in 2013.
Last year, the firm increased one year PQE salaries to £69,000, up £2,000 from the previous year, and two year PQE wages from £74,000 to £77,000. Three year PQE’s received £85,000.
A spokesperson at the firm said: ‘We are fully committed to attracting and retaining the best quality graduates and ensuring that remuneration is competitive, as this year’s increases demonstrate.’
The firm’s salary increases follow US firm’s Shearman & Sterling’s announcement earlier this week that it will boost pay levels across the firm’s three-tier merit based system by up to 6.4%; Allen & Overy’s decision to hold trainee and NQ lawyers’ pay at 2013 levels, while Linklaters unveiled pay increases for all its associates and trainees.
jaishree.kalia@legalease.co.uk
