Freshfields Bruckhaus Deringer has unveiled salary increases for its junior lawyers broadly in line with those announced by magic circle rival Linklaters last week (30 April).
The increases, effective from 1 May, mean a newly-qualified lawyer (NQ) at Freshfields will now earn £66,000, up from last year's rate of £65,000.
Moving through the bands, lawyers with one year post-qualification experience (PQE) will earn £73,000 up from £71,500. Lawyers with two years' experience move up from £84,000 to £86,000 while pay for lawyers with three years' PQE increases from £90,000 to £92,000.
Trainees’ pay will rise by £1,000, with a first-seat trainee now set to pocket £39,000 - up from £38,000 last year.
The firm’s bonus scheme remains unchanged, with one and two-year PQE lawyers able to make a bonus of up to £20,000 depending on performance, with a three-year PQE lawyer able to make £35,000.
The rises follow salary increases announced by Linklaters last week, with an NQ at the Silk Street firm is now set to earn £66,600 - up from £64,000 in 2007. Trainees' pay will rise 4% from £36,000 to £37,400 in the first seat.
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