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17 May 2012 | By Laura Manning
Hogan Lovells is upping newly qualified (NQ) salary bands by less than 1 per cent, boosting their pay packages by £500.
The top ten firm’s NQs will now receive a salary of £61,500, up from £61,000 in 2011. The firm also increased its NQ pay last year by £1,000.
Meanwhile the pay levels for its trainee solicitors are remaining steady at the 2011 levels, with first-year trainees and second-year trainees receiving £38,000 and £43,000 respectively.
This follows an increase for both levels in 2011 from £37,000 and £42,000.
Last week, magic circle firms Allen & Overy, Freshfields Bruckhaus Deringer and Linklaters announced their 2012 salary reviews.
NQs at Freshfields received the greatest lift, with salaries boosting from £61,500 to between £65,000 and £72,000 following its move to a new merit-based remuneration system (8 May 2012).
Allen & Overy increased its NQ salary from £61,000 up to £61,500, while Linklaters froze its NQ pay at £61,500 (4 May 2012).
A&O and Linklaters both offered nominal increases for those in the first three years following qualification (18 April 2012).
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