Boosts for some
City law firm RPC has increased salaries for its London-based newly qualified (NQ) lawyers in the commercial team, raising them from £85,000 to £90,000.
The uplift, effective from July 1, only applies to those in the London commercial team, while those in the insurance teams remain on £80,000 in London and £56,000 in Bristol.
A spokesperson for the firm told Legal Cheek that, it “conducted a review of our salary structures across different practice areas within the firm, and as a result we decided to increase the NQ salary for our commercial practice in London to remain competitive and continue attracting top talent”.
“Our analysis indicates that the market rates for NQ salaries within our insurance practice and our Bristol office have not experienced the same upward movement and our current salaries in these areas remain appropriate,” the spokesperson continued.
The Legal Cheek Firms Most List 2024 shows that RPC takes on around 19 trainees each year, with the most recent retention rate clocking in at 81%. City rookies can expect to take home £44,000 in year one of their training contract, and £46,000 in year two.
“We are committed to ensuring our compensation structures are fair, competitive, and reflective of the market conditions in which each practice area operates,” the spokesperson added. “By doing so, we continue to support the sustainable growth and success of RPC and our people.”