Pay rise for London associates at Herbert Smith Freehills
Herbert Smith Freehills has announced a pay rise for newly qualified and junior associates in London, bringing its junior salaries in line with those paid by Slaughter and May and above the level paid at Allen & Overy and Clifford Chance.
Newly qualified lawyers, and those with two and three years of post qualification experience will see the biggest raises, with a boost of £2k, while first year trainees will receive an extra £500. Only second year trainees will miss out in the pay bump, remaining on £44k.
First year trainees will now receive £39,500, newly qualified lawyers will get £65,000, first year PQE lawyers will take home £70,000, second year lawyers will receive £79,000, and third year lawyers will receive £89,000.
The firm’s Australian lawyers will also be seeing a pay rise, after being shut out of the 3% salary increase enjoyed by their London counterparts in 2013.
Australian Managing Partner Jason Ricketts has said the Australian lawyers will see an across-the-board pay reevaluation this month, though the merit-based system inherited from legacy firm Freehills will remain in place, so Australian lawyers may not see pay increases on a par with their London peers.