US law firm Sidley Austin has raised the compensation for its newly qualified associates in London to compete with the other mainly US-based law firms boosting law firm pay levels in the London legal talent war.
Their base salaries have increased from £166,500 to £175,000, an additional £8,500 or 5% hike effective July 1st.
The firm has also boosted pay for its trainees, with first-year trainees now earning £60,000 (up from £55,000) and second-year trainees receiving £65,000 (previously £60,000).
Sidley’s newly qualified lawyers now earn the same as their counterparts at Goodwin Procter, surpassing firms like Vinson & Elkins and Kirkland & Ellis.
This increase follows a wave of salary raises among Magic Circle firms that we have reported on at LawFuel, with A&O Shearman, Clifford Chance, Freshfields, and Linklaters elevating their newly qualified pay to £150,000 and trainee salaries rising to £56,000 (first-year) and £61,000 (second-year).
Quinn Emanuel the storied ‘most feared’ litigation firm, struck a blow by raising base salaries for newly qualified lawyers in May by 18 percent, setting the new benchmark at a eye-watering £180,000.
Earlier this week, Hogan Lovells also increased newly qualified salaries in London to £135,000, while those in Birmingham will now earn £85,000.
