‘Dimitri Finds Out’ meme: the corporate law version
Legal news has been dominated by money in recent weeks, with firms across the City upping trainee and newly-qualified (NQ) pay to what some believe is an eye-watering level.
With big money being thrown at the top City talent, wannabe lawyers with magic circle aspirations will no doubt be rubbing their hands in delight.
None more so than City lawyer-to-be Dimitri (of the ‘Dimitri Finds Out’ meme fame).
Since first appearing on Russian TV in 2008, versions of this energetic interview have swept the internet with alternative subtitles created by fans. Step forward the IT bods at Legal Cheek with … ‘Dimitri finds out about City law firm pay rises’.
And it’s no surprise our Russian City-lawyer-to-be is happy.
Both Slaughter and May and Hogan Lovells have raised NQ pay to £70,000 over the past month. Trainees at these firms also got a raise, meaning they will walk away with a cool £41,000 fresh out of the LPC.
Meanwhile, last Friday Linklaters — who offer 110 training contracts a year — went £1,000 better and upped their first year trainee pay to a staggering £42,000.
Despite the hikes, US firms still rule the City roost. On Wednesday Shearman & Sterling announced NQs would receive on a whopping £88,000 (up from an already spectacular £83,000) while trainees would get a magic circle-busting £45,000.
With further salary increases anticipated across the City, expect more ‘Dimitris’ to be hitting London’s nightclubs in celebration.