Mayer Brown raises NQ pay to £120k

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^{With £6k a month to spend, Mayer Brown NQs can now afford 12 loveable Santa companions a year}

Mayer Brown has upped the salary for its newly-qualified solicitors in London to £120,000.

The Chicago-headquartered firm has raised NQ pay by 12% from £107,500 to £120,000, effective from 1 July. It puts Mayer Brown NQ salary on a par with Herbert Smith Freehills and Hogan Lovells, and a smidge above Macfarlanes and Slaughter and May (£115k). The rest of the Magic Circle (Linklaters, Allen & Overy, Freshfields and Clifford Chance) all pay their NQs a base salary of £125k.

Meanwhile Dentons, HFW and Bird & Bird have all upped NQ salary to £95k, in line with Addleshaw Goddard and Eversheds Sutherland.

Dentons is raising NQ base pay from £92k to £95k, effective from September. A Dentons spokeswoman confirmed that the firm pays its 1PQE solicitors a base salary of £100k and it operates "broad bands from 2 PQE onwards" with 2-3 PQE solicitors on base salaries ranging from £100k to £130K.

Dentons introduced a new bonus scheme last year which, the spokeswoman said, "sets much lower gateways for reward at between 1200 and 1500 chargeable hours (depending on the location of the fee earner). This means, for example, that London NQs recording 1800 chargeable hours will receive a total compensation package of £114,950".

HFW is increasing NQ pay from £85k to £95k, effective from 1 July. And Bird & Bird is raising its NQ pay from from £92,400 to £95k, this September.

Other recent rises in the City include Simmons & Simmons upping NQ base salary from £105,000 to £107,500, putting it at the same level as Reed Smith.

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Comments

Regional LD here. Top 20 firm. Generally earn about £80k incl bonus.

Yes yes, but are they allowed to do the work from home in their pants?

People are much more productive from home, in my personal opinion, so that's how a modern law firm absolutely has to be run and nothing else will work even if it has a consistent track record of historic success.

If they aren't offering total flexi-work then, mark my words, there will be an exodus of people and they won't be able to get the staff.

Not today, but tomorrow. You'll see!

RPC salaries are now very poor in comparison to the wider marketplace. I am leaving.

"RPC salaries are now very poor in comparison to the wider marketplace. I am leaving."

Yes. First thing on Monday. Definitely.

You won't be back here next week saying the same thing again.

Guaranteed.

The pay rise doesn’t change the fact that it is a third rate firm.

@ Anonymous

If associates never leave because of pay, why are firms increasing salaries?

Also, associates move firms because of cultural issues all the time.

There wouldn't be a lateral recruitment market otherwise.

Age profiles tend to indicate moves.

Early careers want to cash grab. Highest bidder often wins.

Mid careers who aren't on partnership track want balance. Those offering flexibility often win.

Latter careers want either balance or easy cash. Flexibility or incompetence in hiring often wins if you buy a drizzle maker rather than a rain maker.