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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Eversheds has refused to bow to pressure from its national rivals by raising its salaries for newly qualified lawyers (NQs) to just short of the City rates of DLA Piper and Pinsent Masons.
Despite a 17 per cent increase from £53,000 to £62,000, Eversheds’ City NQs will receive far less than Addleshaw Goddard’s, which has emerged as the highest-paying of the national firms, with City NQs receiving £64,000 and those at the firm’s regional offices reaping £40,000.
Eversheds managing partner David Gray said: “Our intention is to pay market rates in the cities we operate in. We’re not a firm that wants to attract people solely on the basis of pay, but also on the basis of factors such as our culture and the opportunities at the firm.”
Hammonds has also joined the NQ pay war, upping pay for City NQs by 25 per cent, from £48,000 to £60,000, and by 18 per cent for its regional NQs, from £34,000 to £40,000. The firm has also introduced a bonus scheme for junior lawyers. Those at its bottom rung of ‘lawyer’ will qualify for a potential bonus of 10 per cent, those at the next rung up of ‘associate’ 12 per cent and ‘senior associate’ 15 per cent.
NQs in Eversheds’ regional offices in Birmingham, Cambridge, Cardiff, Leeds, Newcastle and Nottingham will receive £39,000, an increase of £4,000, or 11 per cent, on the present NQ salary of £35,000.
The increases see Eversheds lagging just behind rivals Pinsents and DLA Piper in London, which both recently boosted salaries for their City NQs to £63,000. Pinsents’ regional NQs will receive £40,000, but DLA Piper’s regional NQs just £36,500 (www.thelawyer. com, 22 June).