Pinsents raises NQ lawyer salaries to £97k

Pinsents? Bonus?

Bro you must be deluded lmao

“Easily jump to US shops” lool that ain’t happening

A few PE deals isn’t enough to land you a US Nq role, at least not in this market

US firms are being more selective now than ever. They want MC trained NQs and candidates who have multiple or all transactional seats for corporate, funds or finance roles

I can’t speak on non corp but I imagine it’s the same

It’s all about the job market in the legal sector, which is reflective of the economic state in the UK.

The UK economy has taken a hit and so have many industries who are making employees redundant. Unfortunately, the legal industry is not any different.

After covid there was a boost in hiring and many law firms needed more people, especially NQs. In 2020 the trainees of that time were able to train at smaller firms and move to Magic Circle and US firms. The last trainee cohort who were able to move laterally quite easily were the ones who qualified in 2022.

The current market is very dire and there are not many NQ roles going. Trainees are lucky if they are retained and need to hope for the best and be very onit with external applications if not. I have friends who are final seaters and they aren’t being kept on and they are struggling to find external roles at firms of the same level to their current one meaning they may have to take a huge pay cut and move to a much smaller firm or even go in house.

I hope this helps.