UK: Regional law firms hike NQ salaries to compete with City
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Regional UK law firms are being forced to hike salaries for newly-qualified solicitors in response to increasing competition from City firms in the home-working era, according to new analysis.
Reading-based Osborne Clarke and Bristol-based Burges Salmon have both boosted NQ salaries by 20 per cent in comparison to last year, to £65,000 and £60,000 respectively, The Lawyer reports.
Meanwhile, Guildford-based Stevens & Bolton has increased NQ pay by eight per cent to £54,000 and Squire Patton Boggs has boosted pay by 13.6 per cent to £50,000 in its regional offices.
The increases – which have also been seen at smaller London firms – have been attributed to a “pay war” with City firms, who now have a significant number of lawyers working from home in other parts of the UK.
In Scotland, Addleshaw Goddard recently raised NQ salaries by 12 per cent to £47,000.
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