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).
