The top legal affairs news stories from this morning and the weekend

Latham & Watkins approves ‘super points’ to boost partner pay above $20m [Financial news] (£)

Corporate lawyer Faiza Saeed: ‘There’s a human element to all deals’ [Financial Times] (£)

Post Office in turmoil as top lawyer Ben Foat steps back [This is Money]

Employment law shake-up: Lawyers prepare to be the hottest call in town [City A.M.]

The police have lost control. Welcome to the era of mob rule [The Telegraph]

Mother of trainee barrister, 26, who vanished in Majorca after ‘beach robbery’ accuses British police of ‘failing’ her son as she lands on Spanish island [Daily Mail]

Israel’s occupation of Palestinian territories illegal, rules top UN court [The Times] (£)

Thumbs up for Grimsby Crown Court staff as emojis take over hearing [Grimsby Live]

Lawyer used balloons to smuggle drugs on prison visit [Daily Mail]

“You won’t have this time again. Be young, travel, explore, enjoy life. Once you start working the only prolonged period of leave you will have is your qualification leave (4-6weeks) and then career breaks in between jobs etc.” [Legal Cheek comments]

Upcoming events
Next Wednesday: What to consider before starting the SQE — with The College of Legal Practice [Apply Now]

Bar Standards Board’s latest data release well worth a look for aspiring barristers

The Bar Standards Board (BSB) has published a detailed breakdown of pass rates according to Bar Course provider and students’ prior undergraduate degree results.

The data gives aspiring barristers a sense of where they are most likely to pass their vocational training at the first attempt according to what degree classification they got.

The other standout finding from the wider report was the growth in Bar Course student numbers. 2,378 students were enrolled on courses between July 2023 and June 2024, a 6% increase on the previous year and a 12% rise from July 2020 to June 2021, when 2,120 students enrolled on the course. It’s worth noting that a sizeable proportion of these students are international and intend to return home to practise. Pupillage numbers in in England & Wales rose 10% to 638 in the most recent figures published by the Bar Council.

Gearing up for pupillage applications in the new cycle? Check out Legal Cheek’s Chambers Most List, featuring profiles of 50 top sets.

Wants to travel

In the latest instalment of our Career Conundrums series, a solicitor apprentice seeks readers’ opinions on whether taking a gap year upon qualification would harm her career.

“I am a Solicitor Apprentice nearing the end of my first year at a mid sized law firm. Since I haven’t had the ability to have a gap year and go travelling and gain life experience, I wonder, would it be harmful to my career to take a year out upon qualification? Will I be less appealing to firms if I have taken a gap year immediately upon passing the SQE? Or will my six years’ experience negate that? Any advice would be greatly appreciated.”

If you have a career conundrum, email us at tips@legalcheek.com.

A round-up of online musings, memes and more

‘I gave some controversial advice last week ’ [Helen Pamely on LinkedIn]

In Law School? Write running notes. [Madhuli Kango on LinkedIn]

Unusual and cool things in law firm offices [Legal Cheek on TikTok]

The struggle is still real… [Alex Herrity on LinkedIn]

‘As is customary, I have the opportunity to book a place on the admissions ceremony at my expense. And I’m really struggling to hit the ‘Buy’ button’ [Amit Kapoor on LinkedIn]

It’s bizarre that junior lawyers don’t get more training on how to manage traumatic situations [Chrissie Wolfe on LinkedIn]

Third year of uni v firm profile pic [Legal Cheek on Instagram]

View this post on Instagram

A post shared by Legal Cheek (@legalcheek)

Why did I choose to become a lawyer? [Holly Moore on LinkedIn]

How to best approach your SQE2 Research Assessment now that the format of the answer has changed [Daniel Hill on LinkedIn]

Deadlines that aren’t helpful [Shaun Sethna on LinkedIn]

OPEN THREAD

It has been another summer of sizeable pay rises across the City for newly qualified (NQ) solicitors.

But the often unseen effect of these headline-grabbing uplifts is pay bands being squeezed further up the ladder, particularly for those between one and five years post qualification experience (PQE).

So while the vast majority of City firms will publicly disclose their NQ rates to attract top graduate talent, very few will reveal the earnings of junior lawyers at higher levels.

A number of City firms have boosted NQ rates by as much as 20% this summer to keep pace with rivals, but questions remain about how these increases have impacted the pay packets of more experienced juniors.

Our commenters speculate that the incremental salary increases between PQE levels are being compressed, with firms apparently reluctant to provide commensurate rises to associates higher up the ladder.

So in a bid to bring a bit of clarity to the salary situation, we’re calling on our junior lawyer readership to share their insider knowledge in the comments below. The aim is to provide an overview by firm, team, PQE, and salary (base plus bonus).

New initiative launched by Sentencing Council

A new interactive website has been launched that allows member of the public to hand down their own sentences in real criminal cases.

‘You be the Judge‘, created by the Sentencing Council, lets users take on the position of a judge or magistrate to sentence defendants based upon the facts of real cases.

The platform features a range of offences, and offers budding benchers an insight into the facts, aggravation, and mitigation of each one, before allowing viewers to select their own sentence.

Each case is based upon a real set of facts, with offences such as fraud, possession with intent to supply a class A drug, possession of a bladed article, robbery, assault on an emergency worker, and possession of a firearm all on the roster.

The scenarios also inform users of the actual sentence in the case, with the aim of the scheme being to help improve public understanding of the sentencing process.

Lord Justice William Davis, chair of the Sentencing Council, commented: “You be the Judge gives the public a unique opportunity to see for themselves how complex the sentencing process is and how sentencing guidelines help judges and magistrates take a consistent approach.”

Lady Chief Justice, Lady Carr, added:

“The Judiciary of England and Wales supports the Sentencing Council’s new initiative to increase the public’s understanding of how sentencing works. Judges and magistrates make decisions based on the individual circumstances of the cases before them, and You be the Judge is a great way to encourage greater understanding of these decisions.”

37 of 43 and 36 of 43

Freshfields and Slaughter and May have posted strong autumn trainee retention scores of 86% and 84% respectively.

This makes Freshfields the top performer within the Magic Circle so far, keeping on 37 of its 43 qualifying trainees. All rookies who were offered a role accepted it.

Slaughters comes in at a close second, retaining just one fewer with 36 out of 43 trainees. The firm confirmed to Legal Cheek that all NQ solicitors have been retained on permanent contracts.

Earlier this week Clifford Chance announced that it was keeping on 75% of its trainees (42 of 56), with A&O Shearman earlier recording a retention rate of 66% (37 of 56).

Linklaters is the only Magic Circle firm not to have released its retention figures so far.

Whilst Freshfields’ retention has stayed relatively level across this year, posting an 84% score for its spring qualifying cohort, Slaughters’ score had dropped slightly, falling from a very impressive 95% spring score.

Speaking on the latest retention figure, Craig Montgomery, partner and training principal at Freshfields, said:

“We are thrilled that many of our trainees are choosing to advance their careers at Freshfields and their exceptional skills and dedication during the Trainee Associate Programme have been impressive. Our commitment to their development reflects our belief in fostering a strong, diverse workforce for the future and is a vital part of our strategy to cultivate a dynamic and forward-thinking global firm.”

Earlier this year Freshfields raised NQ pay to a new high of £150,000, with Clifford Chance, Linklaters and A&O Shearman all swiftly following.

Slaughters is the only Magic Circle firm to have kept its NQ salary at £125,000 so far, although it has raised trainee pay in line with its Magic Circle rivals.

Hill Dickinson and CRS post strong numbers too

The trend of law firms posting positive financial results continues, as both Ashurst and Clyde & Co report an increase in partner profits.

Revenue at Ashurst climbed 9% to £961 million in the financial year 2023-24, marking its eighth consecutive year of growth. Profits per equity partner (PEP) increased by a robust 14% to £1.33 million, surpassing the previous record of £1.17 million.

The Silver Circe player reported strong performance across all regions, with the UK, US and Middle East achieving double-digit revenue growth of 13%, 18%, and 17%, respectively.

“These results reflect the focus and commitment of our people, the trust of our clients and the successful execution of our 2027 Strategy,” Ashurst global CEO Paul Jenkins said. “We are centred on our priority industries, practice areas and markets, combined with the delivery of integrated solutions that bring together teams across legal and consulting services with our NewLaw capability.”

“This is a trajectory that really works for our business and is bearing fruit for our clients,” Jenkins continued. “Pleasingly, we are budgeting to have our first year of revenue above £1 billion in our financial year ending 30 April 2025.”

Meanwhile, UK headquartered Clydes also recorded positive numbers, with revenue climbing 10% to £845 million, marking its 26th consecutive year of growth. Profits at the firm increased by 3% to £174.4 million, while PEP rose by a little over 4% to £739,000, up from £708,000 the previous year.

This marks the firm’s second set of financial results since swallowing up insurance law specialist BLM, in a move which added some 600 lawyers to its ranks.

“Our growth this year was driven in large part by our underlying business, which benefited from strong client demand for our services across our disciplines and geographies,” commented Matthew Kelsall, Clydes’ CEO. “In the past year we have continued to invest in modernisation and made several strategic hires in energy, renewables, regulatory, finance and commercial disputes, a trend that will continue as we seek to maintain a balance across our sectors and practices.”

Elsewhere, Hill Dickinson, a global law firm based in Liverpool, saw its revenues increase by 9%, reaching £141.3 million from £129.6 million. Net profits exceeded £50 million, pending an audit.

The shipping law specialist didn’t provide a PEP figure.

The firm reported that its three main practice areas — business services, healthcare and marine — met their targets last year, with business services emerging as the largest division, generating nearly £70 million in revenue.

Finally, Charles Russell Speechlys (CRS) reported a 13% increase in firmwide revenue, reaching £218.3 million. Of this total, £174.4 million was generated in the UK, representing a 12% increase from the previous year.

UK PEP increased significantly by 27%, rising from £521,000 to £661,000. Meanwhile, the firmwide net profit saw an impressive 20.5% jump, reaching £45.9 million.

Managing partner Simon Ridpath said: “Performance and growth outside of the UK also remained strong, with a total international revenue growth of 15%. There were notable contributions from our European offices in Luxembourg, Paris and Switzerland, as well as 30 per cent revenue growth in Asia following numerous lateral hires and the launch of our Singapore office in July last year.”

42 of 56

Clifford Chance has posted an autumn trainee retention score of 75% with 42 of its 56 final-seat trainees staying on with the firm.

The Magic Circle firm said that 54 trainees applied for associate positions, and 44 offers were made. All but two of these offers were accepted.

CC confirmed to Legal Cheek that all 42 soon-to-be associates are on permanent contracts, with no fixed-term arrangements.

Earlier this year the CC posted spring score of 71% after 40 of its 56 spring trainees committing their futures to the firm.

The Legal Cheek Firms Most List 2024 shows that the new recruits will start on recently improved salary of £150,000.

Last week fellow MC player A&O Shearman posted its first post-merger retention score, with 37 of its 56 trainees (66%) staying put.

Shabana Mahmood swore oath on the Qur’an in ceremony conducted by Lady Chief Justice

It was a day of firsts yesterday at the swearing-in ceremony of the new Lord Chancellor, Attorney General and Solicitor General.

Shabana Mahmood MP, the first Muslim to become Lord Chancellor, was sworn in using the Qur’an, marking a historic milestone. She is also the first female Lord Chancellor to be inducted by a female Lady Chief Justice, Dame Sue Carr, another significant first.

Mahmood is also the only person to hold the position of Lord Chancellor who entered politics from the employed bar, making it her third notable first. She worked for BLM (which has since merged with Clyde & Co) before being elected as an MP in 2010.

While conducting the ceremony, the LCJ noted, “As is often the case on these historic occasions, your appointment marks a first—a triple first, in fact.”

After detailing Mahmood’s career and praising her “shrewd advocacy”, “deep knowledge of professional ethics”, and “commitment to helping others”, Baroness Carr added that:

“There will no doubt be challenges and choices to be made today and tomorrow. That is an inevitable feature of governing. We will work with you and your Ministers as you face these demands. I very much look forward to forging a stable, long-term partnership with you as Lord Chancellor within — of course — constitutional bounds, in the service of justice and the achievement of justice.”

Today, @ShabanaMahmood was sworn-in as Lord Chancellor at the Royal Courts of Justice.

She made her oath in the presence of the Lady Chief Justice and other senior judges, Attorney General, Solicitor General and leading members of the legal professions. pic.twitter.com/8QCMfxqk7o

— Ministry of Justice (@MoJGovUK) July 15, 2024

Also sworn in were the new Attorney General, Richard Hermer KC, and Solicitor General Sarah Sackman MP. In what appears to be yet another first, both barristers are members at the same set, Matrix Chambers.

Rounding off the ceremony, Baroness Carr added: “My Lord Chancellor, Mr Attorney and Madam Solicitor, on behalf of the judiciary of England and Wales may I congratulate each of you on your appointments and wish you well in the discharge of your constitutional responsibilities. We look forward to working with you constructively to secure the proper administration of justice and maintain the rule of law.”

12 law firms recognised for D&I efforts

A raft of law firms have been recognised for their efforts in promoting diversity and inclusion in the workplace, with Linklaters taking the top spot in Stonewall’s latest rankings.

The top 100 list is created using the charity’s ‘Workplace Equality Index’, a voluntary benchmarking tool that assesses entrants on criteria such as training, staff engagement, policies, and leadership. It also helps organisations identify steps to build a more equitable workplace.

This year, Magic Circle law firm Linklaters secured number one spot, with De Montfort University and HSBC UK taking second and third places, respectively. Links has appeared in the top 100 for six years running and secured ninth position on lat year’s list.

“We’re thrilled to be recognised as the top employer in this year’s Stonewall Top 100 Employers list,” said Angela Ogilvie, Linklaters’ chief HR officer and executive committee LGBTQIA+ champion. “Our people are the key to our success, and this ranking really highlights the inclusive and supportive environment we’ve built.”

“Here, diversity is more than just supported—it’s celebrated, sparking innovation and helping us better serve our clients and our community,” Ogilvie added.

Other law firms on Stonewall’s list, in alphabetical order, are: Charles Russell Speechlys, Clifford Chance, Eversheds Sutherland, Gateley, Irwin Mitchell, Osborne Clarke, Penningtons Manches Cooper, RPC, Shepherd and Wedderburn, Slaughter and May and Womble Bond Dickinson.

The profession’s regulator, the SRA, also made this year’s list, which you can view in full here.

Rises for trainees too

Travers Smith has become the latest City law firm to increase the salaries of its newly qualified (NQ) associates, aiming to keep pace with similar raises implemented by many of its rivals.

The outfit has moved NQ base rates from £110,000 to £120,000, an uplift of 9% that sees it draw level with the likes of Norton Rose Fulbright and Mayer Brown.

The firm said that NQs have the potential to earn up to £20,000 as an additional bonus.

The base move falls short of the £125,000 now on offer at Ashurst and Reed Smith which both announced pay uplifts last week.

Travers also confirmed trainee pay has increased to £54,000 in year one and £59,000 in year two. These previously sat at £50,000 and £55,000, respectively.

The Legal Cheek Firms Most List shows Travers recruits around 40 trainees each year.

Healthy increases for firm’s rookie too

The London office of Baker McKenzie has confirmed sizeable salary increases for both its newly qualified (NQ) lawyers and trainees.

NQ rates now sit at £140,000, up a whopping 19% from £118,000. This brings the firm, which recruits around 40 trainees each year, in line with the likes of Macfarlanes and Orrick, and £5k above Herbert Smith Freehills, which boosted pay earlier this month.

The firm’s rookies have also been handed pay increases. Year one pay will move from £50,000 to £56,000, while year two salaries will increase from £55,000 to £61,000.

The NQ rise is effective from 1 July, while increases to trainee salaries will take effect on 1 September.

Shoosmiths, WFW and Brabners

Another round of financial results have been released, with Shoosmiths, Watson Farley & Williams (WFW), and Brabners all posting positive figures.

Shoosmiths has seen a strong 2023-24 financial year with revenue climbing 6% to cross the £200 million threshold for the first time, the new figure clocking in at £206.7 million.

Profits have increased by 5% to £66 million, while profit per equity partner (PEP) has risen significantly by 16%, from £676,000 to £781,000.

Over at WFW the numbers are equally positive, with global income rising 11% to £238.4 million. The firm’s profit increased by 7.2%, reaching £66.8 million, while PEP rose by only 1.5% to £593,000. This slower growth in PEP could be attributed to the firm’s 5.7% increase in partnerships over the past year.

Commenting on her firm’s performance, WFW managing partner Lindsey Keeble said:

“We continue to build on the successes of previous years with double digit global income growth. With a majority equity partnership, we continue to invest in the firm to build a sustainable business with strength and depth at all levels.”

Elsewhere, Brabners’ revenues reached £55.6 million in the last financial year, subject to audit. This marks an 18% increase from £47.1 million. The firm didn’t publish a PEP figure.

The latest results continue the positive financial trend seen in both City and national law firms. Linklaters crossed the £2 billion revenue mark for the first time in its history, whilst the likes of Osborne Clarke, Weightmans, HFW, and Kennedys have all enjoyed double digit growth.

66% and 36%

RPC and Reed Smith have recorded low scores in the latest trainee retention season.

RPC, which has 18 trainees set to qualify later this year, is retaining 12 of them, equating to 66%. Of the 18 trainees, 17 applied for roles within the firm, with one opting to focus on a practice area not currently offered by RPC.

The firm said that the five final-seat trainees who were unsuccessful in their applications “applied for highly competitive roles within RPC and, unfortunately, were not successful in securing positions in those popular practice areas”.

This result is down slightly from last year’s figure of 81% (13 out of 16).

Meanwhile, Reed Smith confirmed it has retained four of its 11 trainees. Whilst eight applied for roles, only six were made offers, and four accepted. This gives an overall retention score of 36%.

This is a reduction from the firm’s spring retention score when it retained eight out of 13 NQs, or 62%.

Commenting on the latest retention, David Ashmore, Reed Smith’s Training Principal, said: “Congratulations to our new class of associates, who expand the next generation of talent at the firm. We are proud to be investing in their future successes and career development.”

“In a competitive market, we continue to work hard to attract and retain our talent.”

Both firms have recently increased their NQ salaries, with RPC boosting pay within its London commercial team to £90,000, whilst Reed Smith has increased NQ rates to £125,000.

This retention season has already seen some low scores, including BCLP which recorded a rate of 58% (11 of 19), and A&O Shearman, which posted a score of 66% (37 of 56).

At the other end of the spectrum, Burges Salmon clocked a perfect 100% in its latest round, keeping on all 24 qualifying trainees in permanent roles.

The top legal affairs news stories from this morning and the weekend

Diverse lawyers used as ‘window dressing’ in client pitches, poll finds [Financial Times] (£)

Thousands of prisoners to be released early to ease overcrowding [BBC News]

AI won’t be replacing human lawyers any time soon [The Scotsman]

Fox-clubbing barrister sparks outrage by claiming new Government will ‘kill trans children’ by continuing ban on puberty blockers [Mail Online]

Climate in the courtroom: all sides are using ‘green lawfare’, and it’s good for democracy [The Conversation]

Pregnant woman who survived neighbour’s crossbow rampage demands weapon law reform [Mirror]

Latest legal bid in Stonehenge tunnel scheme begins [BBC News]

German lay judge challenges a headscarf ban in court [DW]

Ex-Porsche Lawyer Sentenced After Throwing Her Newborn Out Window So It Wouldn’t Disrupt Her Career [International Business Times]

Alec Baldwin’s Rust trial dismissed over hidden evidence [BBC News]

“Yes you will certainly be taken seriously but you should manage your expectations as to how far you can leverage your career to date. Partners are largely disinterested in experience that isn’t legal…” [Legal Cheek comments]

Upcoming events

TOMORROW: AI and the law — with A&O Shearman, Macfarlanes, Osborne Clarke and ULaw [Apply Now]

Thursday 18 July: How to secure a pupillage at the commercial Bar — with COMBAR [Apply Now]

Advice needed

In the latest instalment of our Career Conundrums series a 30-something aspiring solicitor is seeking a career change from marketing to City law.

“I work in a marketing role in the finance sector, and whilst I once enjoyed my work I’ve recently turned 30 and looking to make the move into law — a move I’ve been considering for a couple of years now. I studied law at Oxford and fell into the world of marketing post-university. Would firms take me seriously? Are there some firms/types of firms that are more or less open to older applicants or those with previous careers? Please keep me anon. Thanks.”

If you have a career conundrum, email us at tips@legalcheek.com.

A round-up of online musings, memes and more

‘I’ve always thought NQ retentions rates don’t really tell the full story. Let me try to add a bit of context for any aspiring solicitors who worry about this.’ [Paul Gascoyne on LinkedIn]

Tip for law students and newer lawyers: don’t include an exact date unless it matters [Nick Bullard on LinkedIn]

Law firm tip [jefffdylan on X]

Law firm tip: if you’re ever low on hours make lots of social plans. Like magic you’ll be staffed on new urgent matters!

— attorney@lol (@jefffdylan) July 7, 2024

Law students struggling to land legal roles in the UK — is this really how it should be? [Iqra Ali on LinkedIn]

Law students looking to connect on LinkedIn [Legal Cheek on Instagram]

View this post on Instagram

A post shared by Legal Cheek (@legalcheek)

Failure… A word so many of us hate, and so rarely talk about [Andrew Mackinnon on LinkedIn]

No, you can’t “just tell” when someone has used ChatGPT [Dana Yewbank on LinkedIn]

With MC outfit just two months before resigning

A former associate at Clifford Chance has been sanctioned by the regulator for allegedly engaging in “inappropriate” behaviour towards a colleague during a firm social event.

Jacobus Johannes Swart, who worked as an associate in the firm’s London office for two months between January and March 2022, “engaged in conduct towards a colleague that was inappropriate, unwanted, and/or sexually motivated,” according to a finding published by the Solicitors Regulation Authority (SRA).

CC launched an investigation and suspended Swart, but he resigned from the firm before a disciplinary hearing could take place. The firm subsequently reported the matter to the regulator.

The SRA report reveals that Swart is a South African lawyer who is not a qualified solicitor in England and Wales, nor a registered foreign lawyer. No current address is on record for him, and it’s believed that he may have moved back to South Africa.

The regulator has now made Swart subject to a section 43 order which prevents him from working for a law firm in England and Wales without its approval.

In reaching its decision, the regulator said: “Mr Swart’s conduct was serious because during a work event he touched a colleague in an inappropriate and/or unwanted and/or sexually motivated manner without consent, causing them distress. His behaviour had a long term impact on them.”

In a statement, Clifford Chance said: “We can confirm that Jacobus Johannes Swart was employed as an associate by Clifford Chance from January 2022 to March 2022, after which point he was no longer an employee.”

Rise of 19%

Partners at Allen & Overy enjoyed an uplift of 19% in their average earnings in the financial year before the tie-up with Shearman & Sterling.

A&O Shearman released new figures today regarding A&O’s financial performance prior to the mega-merger going live earlier this year.

They show that the average profit per equity partner (PEP) increased from £1.8 million to £2.2 million, thanks to a healthy 17.2% rise in pre-tax profits, reaching £1.05 billion.

Revenues increased a more modest 3.4% from just over £2.1 billion to £2.2 billion.

Commenting on the results, Hervé Ekué, global managing partner at A&O Shearman, said:

“In the year leading up to the completion of our merger, we’re pleased to report positive growth for the firm. This is testament to our strategic focus on diversification across regions, practices, and sectors.”

The results come after A&O Shearman initially set newly qualified (NQ) associate pay at £125,000, before upping this to £150,000 a month later following similar moves by its Magic Circle counterparts.

Earlier this week the newly-formed firm posted its combined retention score, with 37 its of 56 (66%) final-seat trainees staying on.

Fellow Magic Circle player Linklaters published its results this week, reporting a 10% increase in revenues, surpassing the £2 billion mark for the first time in its history. PEP also saw growth, climbing 8% up to £1.9 million.

City salary rises continue

Reed Smith and Ashurst have raised the salaries for their newly qualified (NQ) lawyers to £125,000 as City firms continue to splash the cash to attract and retain top talent.

This represents a 16% increase for Reed Smith, raising from a previous salary of £107,500. For Ashurst the new figure is a 9% increase from its previous £115,000, which the firm raised to this time last year. Over the past two years, NQ pay at Ashurst has risen by £20,000, and over the last five years, it has increased by more than £40,000.

Prior to their improved NQ pay, Reed Smith’s can expect to earn £50,000 in their first year and £55,000 in their second. The firm takes on around 26 trainees each year.

It has also confirmed that all other associate level salaries will increase in line with the most recent change, and that associates will continue to be eligible for a bonus programme, subject to completing the set number of target hours

By comparison, new recruits at Ashurst’s London office earn £52,000 in their first year and £57,000 in their second. The Legal Cheek Firms Most List shows the firm takes on around 40 trainees each year, with the most recent retention rate seeing 82% (18 out of 22) of the spring qualifying cohort stay on.

Commenting on Reed Smith’s salary uplift London office managing partner Andrew Jenkinson said: “We are pleased to confirm the increase to associate salaries in London. It is a reflection of the market and our desire to retain and attract the best legal talent by providing a competitive and sustainable reward structure.”

He continued: “The new salary is an investment in our lawyers, which keeps us in line with other leading international law firms, and supports the firm’s strategic growth objectives enabling us to continue to deliver the highest quality, legal services that we are known for.”

This latest raise comes on the back of a spree of salary uplifts across the City.

Freshfields hit headlines when it increased NQ pay to £150,000, with three of its Magic Circle rivals, Linklaters, A&O Shearman, and Clifford Chance, quickly implementing the same increases. Slaughter and May has remained steadfast at £125,000 so far.

Other firms to increase rates include Herbert Smith Freehills and Hogan Lovells, both of which have raised NQ pay to £135,000, while Macfarlanes has gone further, increasing NQ salaries to £140,000.

Elsewhere, HFW boosted its NQ pay to £100k, with Bird & Bird climbing to £98,000 and DLA Piper rising to £110,000.