Increases for interns and other associated ranks
Travers Smith has increased the compensation of his junior lawyers, with newly qualified (NQ) lawyers now earning six-figure salaries.
The firm has confirmed Play legal this base salary for NQs in the London office has increased by around 11% from £ 90,000 to £ 100,000 on 1 January 2022.
The recent increase puts the company’s NQs on par with those of Freshfields, Hogan Lovells, Macfarlanes and Simmons & Simmons. The Travers Smith Bundle, however, has the potential to win between £ 110,000 and £ 127,000 with company wide bonuses and other discretionary bonuses.
The 2022 Play legal List of the most
Travers Smith also granted salary increases to associates of other ranks as well as to trainee lawyers. Salaries for first year trainees have increased from £ 47,000 to £ 50,000 and from £ 52,500 to £ 55,000 for second year trainees.
A spokesperson for the firm said: “It has been an exceptionally busy and difficult year, and the work done by our lawyers at all levels has been key to the firm’s success. “
“In recognition of the commitment and exceptional efforts of our lawyers, we believe it is fair that lawyers of all levels receive a salary increase. We have therefore increased the salaries of our lawyers at each level of PQE, with effect from January 1, 2022.
The firm will carry out its regular salary review on July 1, 2022, in addition to this interim review.
Travers Smith has become the fifth and final member of the “Silver Circle” to raise junior lawyer salaries in recent months. See below for how they stack up.
Ranking of salaries of the silver circle:
|Solidify||Remuneration of interns (Year 1)||Remuneration of interns (Year 2)||NQ base rate|
|Ashurst||£ 47,000||£ 52,000||£ 105,000|
|BCLP||£ 48,000||£ 52,000||£ 95,000|
|HSF||£ 50,000||£ 55,000||£ 105,000|
|Macfarlanes||£ 50,000||£ 55,000||£ 100,000|
|Through Smith||£ 50,000||£ 55,000||£ 100,000|
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