US firm Dechert and City outfits Dentons and Addleshaw Goddard have joined the ranks of firms boosting their trainee and NQ pay for future solicitors. Dechert’s NQ rate is now £110,000, up from £95,000, as it becomes the latest US firm to pay in excess of £100,000 to new solicitors.
At Dentons, the new NQs rate is £75,000, up from £70,000. Year one trainees now earn £42,000, up from £40,000 while second year trainees will receive a £2,000 pay rise taking remuneration to £46,000.
Addleshaw Goddard has boosted NQ pay to £70,000 from £65,000. Trainees have also been given a small rise. The year one salary is up £1,500 to £39,500 while the second year salary is £42,500 up from £41,000.
Trainee pay at Dechert is unchanged at £45,000 in year one and £50,000 in year two.
Earlier this month the Gazette reported that US firm Davis Polk & Wardwell had become the first firm to announce a £60,000 salary for trainees (in their second year).