Shearman boosts NQ pay to £105,000
Shearman & Sterling has implemented a raise of more than 10 per cent for newly-qualified (NQ) solicitors. NQ pay will now total £105,000 per year, an increase over the previous NQ salary of £95,000.
The salary band for mid-level associates will now start at £138,000, up 9.5 per cent from £126,000. Senior associates will see their salary band start at £165,000 this year, an increase of 5.6 per cent. Trainee salaries will remain unchanged at £45,000.
According to London managing partner Nick Buckworth, the salary increases are intended to help the firm attract and retain top associates.