Norton Rose Fulbright joins junior lawyer pay war with salary raise to £95k
Norton Rose Fulbright will increase pay for newly qualified lawyers by 12 per cent, as it joins the clamour for fresh legal talent, according to reports.
The law firm announced a new “compensation strategy” which rewards new junior lawyers with an additional £10,000 a year, bringing their annual salary to £95,000, according to Legal Cheek, which first reported the news.
The boost to their salary will come as a late Christmas gift for staff at Norton Rose Fulbright, who will see the changes come into place from 1 January 2022.
In addition, newly qualified lawyers who also manage to meet their target of 1,800 hours and above will enjoy compensation between £107,500 to £133,000.
The move follows a flurry of hikes by City law firms to salaries for junior lawyers as firms fight to recruit new lawyers.
Last week Stephenson Harwood increased new lawyer salaries to £90,000 while Ropes & Gray raised them to an eye-watering £147,000.