Things We Like: US firms paying £100k for NQs
There’s nothing like a bit of excess to drum up enthusiasm…
And maybe a touch of jealousy.
US firm Bingham McCutchen obviously hasn’t received the austerity Britain memo. It is one of the best-paying firms for newly-qualified (NQ) lawyers in London with NQ salaries of more than £100,000; so say recent surveys. Now we understand that competitors, clients (possibly) and Brits wearing envy as a badge of honour won’t like it but £100k is NQ salary with attitude.
Bingham pays New York rates, currently around $160,000 (£102,000) for NQs.
Making the magic circle look a bit Paul Daniels by comparison - where NQ salaries range from £59,000 to £61,000.
The bad news is that training contracts at Bingham are like hens teeth – the firm only takes on two trainees a year, and generally retains both on qualification.
