More MoneyLaw madness
The London office of US giant Weil Gotshal & Manges has increased pay by 15%, according to a report from a usually reliable blog.
This means that the firm’s newly qualified solicitors (NQs) will see their salaries shoot up from an already rather impressive £100,000 to a mildly mind-blowing £115,000.
To put things in perspective, that’s what a pupil barrister in a legal aid set earns + £100k. It’s of course less than the £124,000 NQs receive at Latham & Watkins and the dollar-tied £135,000 they walk away with at Kirkland & Ellis. Could the apocalypse be nigh?
Further up the ranks, Weil’s four-year qualified solicitors will now be earning £172,500. That’s significantly more than most equity partners at regional commercial law firms.
Weil hasn’t yet responded to Legal Cheek’s request for confirmation of the increases — but we’ll add it in as soon as we get it.
Update: Tuesday 13 September — Weil has confirmed the £115,000 pay rise.