Associates with one year post-qualification experience (PQE) receive the biggest award, with a 6% increase taking their base pay from £66,000 to a new mark of £70,000.
Rates for lawyers with two years’ PQE rise by 4%, moving from £72,000 to £75,000, while those with three years’ PQE are now in line for £82,000, up 5% from last year’s £78,000 benchmark.
BLP is set to adjust salaries for newly-qualified lawyers (NQs), who currently earn £62,500, and first-seat trainees next month.
The firm joins a clutch of City firms to have announced modest pay-rises for junior lawyers, with rival mid-tier outfit Olswang having outlining improvement packages for associates earlier today (12 May).
Lawyers with one year PQE receive an extra £1,000, representing a hike of 1.5%, while more experienced associates see rises of nearer 4%. However, Olswang firm has frozen its rates for NQs and trainees, which are held at £62,000 and £35,000 respectively.
City giants Allen & Overy (A&O) and Herbert Smith, meanwhile, both opted to freeze associate pay at their current levels.
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