From £58,000 in regions
Shoosmiths has increased the salaries of Newly Qualified (NQ) solicitors in London and the regions by 16%.
London NQ rates will rise from £75,000 to £87,000, the company confirmed today, while salaries for qualified people in its regional offices will rise from £50,000 to £58,000. The new salaries will take effect on November 1, 2022.
Shoosmiths offers around 30 training contracts each year in nine city centres, including London, Birmingham, Leeds and Manchester. NQs in the Thames Valley office who were previously on £55,000 will also get a 16% pay rise.
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Shoosmiths CEO David Jackson said in a statement: “In a highly competitive market for talent, we are committed to providing competitive compensation in a positive and engaged work environment that emphasizes culture, learning and development and quality of work.”
UK-headquartered law firms have come under increased pressure in recent years to increase the amount they pay junior lawyers and compete with six-figure salary offers from some US law firms in London . Last month, Pinsent Masons raised NQ fares to £96,000 in London and £61,000 in the regions. Earlier in April, Addleshaw Goddard bumped NQ fares to £95,000 in London and up to £62,000 in the regions.