The above-inflation rise takes NQ pay at the top 20 UK firm to £65,000 – putting it on par with Allen & Overy, which this year froze NQ rates.
The figure is just shy of magic circle heavyweights Freshfields Bruckhaus Deringer, Linklaters and Clifford Chance, which all pay at least £66,000, but ahead of other major City players including Ashurst and Herbert Smith, which both pay NQs £64,000.
Meanwhile, BLP has also upped rates for trainees with those in the first year now netting £37,000 - a rise of roughly 12% on last year. Second-year trainees are bumped up by around 11% to £40,000.
Last month BLP announced that it upping salaries for more senior associates by between 4% and 6%. The pay rises saw associates with one year’s post-qualification experience (PQE) receiving the largest award — a 6% increase, taking their base pay from £66,000 to a new mark of £70,000.
News of BLP’s improved NQ rates comes after Olswang yesterday (11 June) backtracked on its previous announcement that it was freezing NQ rates. The firm instead announced a £1.500 hike taking basic pay to £63,500.
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