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Ashurst has increased junior associates’ pay levels by up to 4 per cent as part of an annual remuneration review that has seen newly-qualified (NQ) lawyers’ salary levels frozen.
The firm’s NQ band has been kept at £61,000 for 2013/14, while lawyers with one year’s post-qualification experience (PQE) will receive £69,000, a 3 per cent increase on £67,000 in 2012/13.
Two-year PQEs at Ashurst will now earn £77,000, 4 per cent more than the same pay band in 2012/13.
Meanwhile, trainee salaries have been left unchanged at £38,000 for first years and £43,000 for second year.
Confirmation of Ashurst’s pay levels comes after Clifford Chance became the last magic circle firm to announce its salary bands, increasing all associate salaries, with NQs now able to earn £76,200 if they qualify for the maximum bonus (4 June 2013).