Serious money for 20-somethings
US law firm Quinn Emanuel has increased salaries in its London office, with newly qualified (NQ) associates now earning a staggering £180,000.
The business litigation specialist confirmed today that NQ rates will increase by 18%, soaring from an already impressive £152,000 to an eye-watering £180,000.
The hefty uplift comes just a week after Magic Circle law firm Freshfields seemingly triggered yet another City pay war by raising its NQ salary to £150,000.
It’s worth noting, however, that Quinn Emanuel currently does not offer UK training contracts, meaning today’s rise could be seen as a tactic to lure top qualifying talent from rivals through its doors.
Quinn Emanuel confirmed rises further up the ladder as well. 1PQE associates will now earn £195,000, up from £160,000, while those with 2PQE will receive £220,000. The rises take effect on 1 June.
You can view the increases in full below:
Alex Gerbi, Quinn Emanuel’s London co-managing partner, said:
“We are very pleased to be able to reward our outstanding lawyers for the contribution they make daily to the success of our practice in London, and we are also committed to continuing to attract the very best new talent as we pursue our strategy for further growth. With that in mind, we have decided to implement material increases to our associate salaries with effect from 1 June, taking our starting salary at the NQ level to £180,000 and stepping up substantially from there as seniority increases. We believe there is no better home than our firm for the brightest and best disputes lawyers, and this decision aligns our salaries with the opportunities we offer them.”
The Legal Cheek Firms Most List shows that Quinn Emanuel’s salary increase sees it draw level with fellow US outfit Gibson Dunn, which upped NQ pay to £180,000 back in February.
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