Taylor Wessing is bolstering its associate pay by around 2 per cent.
Associates with one year’s post-qualified experience (PQE) will now earn £65,000 instead of £63,500. Two-year PQE salaries have been boosted from £67,000 to £69,000.
Three and four-year PQE associates’remuneration meanwhile will now range between £70,000 to £78,000 and £74,000 to £84,000 respectively.
Taylor Wessing froze associate pay in 2009. It subsequently allowed its associates to move through the pay bands in 2010 although the bands remained at the frozen levels.
In a related move, trainee solicitor salaries and newly qualified lawyers’ salaries have risen. First-year trainee salaries have jumped from £35,000 to £36,000 while second year salaries have increased from £38,000 to £39,000.
NQs meanwhile will see an increase in their pay packets from £59,000 to £60,000.
The news follows the announcement that Taylor Wessing is pressing ahead with plans for offices in Hong Kong and Singapore, as well as investigating options in the Middle East. (8 August)
Managing partner Tim Eyles said Far East expansion was a “serious firmwide mission”.