Vinson & Elkins hands NQs 20% pay boost to £120,000

Vinson & Elkins is increasing its salaries for newly qualified solicitors to £120,000.

It is a 20 per cent boost on the £100,000 it previously handed out.

1PQE associates will receive a pay increase of 15 per cent from £110,000 to £127,000, and 2PQE salaries will rise to £140,000, up 17 per cent from £120,000. 

First-year trainee salaries, meanwhile, rise to £50,000, with second-year trainee pay goes up to £55,000. First years were previously paid £45,000, with £47,500 for second-years.

The associate salary increases came into force on 1 July while the trainee increases take effect from 1 September. 

London managing partner Alex Msimang said: “At V&E, we believe that our people are our most valuable asset, so it is very important that we attract and retain top talent at every level.This is a highly competitive market, and we believe these compensation adjustments exemplify our appreciation for the hard work and excellent service that our associates and trainees provide to our clients every day.” 

Table of trainee salaries