Hogan Lovells has revealed pay increases across the board for its trainee and newly-qualified (NQ) lawyers, and now pays its NQs as much as the magic circle.
The City firm will now pay its NQs £65,000, matching Linklaters’ newly-raised salary for its NQs (12 May 2014). Hogan Lovells’ raise is an increase of 3 per cent, compared to last year’s 2.5 per cent increase.
First year trainees will now earn £39,500, up from £39,000 while their second-year counterparts will receive £45,000, up from £44,000.
The firm’s salary increases just pip City rivals Ashurst’s raises, which announced that it would pay first year trainees £39,000, second-years £44,000 and NQs £63,000 (16 May 2014).
Ashurst’s wages now match the salaries that Silver Circle companion Herbert Smith Freehills, which is yet to announce its 2014 pay increases, paid junior lawyers last year (5 June 2013).
Norton Rose Fulbright, also yet to announce, boosted NQ pay to £63,000 in 2013 while keeping first year trainee salaries at £38,000 and second-year wages at £43,000.
Hogan Lovells salary increases
|First year trainees||Second year trainees||Newly-qualified lawyers|
|May 2011 – May 2012||£38,000||£43,000||£61,000|
|May 2012 – May 2013||£38,000||£43,000||£61,500|
|May 2013 – May 2014||£39,000||£44,000||£63,000|
|May 2014 – May 2015||£39,500||£45,000||£65,000|