Osborne Clarke has raised its newly-qualified (NQ) rates in the City to £63,500 — an increase of just £500 on last year. Lawyers in the Thames Valley and Bristol offices will also see salaries increase by £500 to £50,500 and £41,500 respectively — rises of approximately 1%.
Beachroft’s bandings put it just behind Osborne Clarke, with London NQs taking home between £50,000 and £60,000, up from £47,500-£52,000 last year. In the regional offices, NQs will receive between £34,000 and £40,000, up from £33,000-£37,000.
Meanwhile, Cobbetts has introduced a banding system based on performance and practice areas, which will see it move from last year’s NQ flat rate of £37,000 to a new rate of £37,000-£41,000.
The salary reviews come on the back of redundancy programmes at both Beachcroft and Cobbetts. Beachcroft recently closed its international practice group (IPG) in a move affecting one partner and five lawyers. Meanwhile, Cobbetts has cut six jobs from its real estate group.
News of the regional pay rises comes shortly after City firm Barlow Lyde & Gilbert announced its associate salary rates for this year. The firm has awarded its associates a 5% pay increase, bringing wages up to £61,000 from the previous figure of £58,000.
Beachcroft on the Legal Week Wiki
