Junior pay hikes heap pressure on Magic Circle in ‘fierce’ talent battle

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Photo: Jason Alden/Getty Images

Pay hikes for junior lawyers at a group of UK and international law firms during the summer have upped pressure on Magic Circle firms to keep ahead of the competition in a fierce market for talent.

Mayer Brown has raised its salary for junior lawyers in London to £150,000, an 11% rise from the previous £135,000. Baker McKenzie and HSF Kramer increased their salary for newly qualified lawyers to £145,000, up from £140,000 and £135,000 respectively. Hogan Lovells and Ashurst now pay their junior lawyers £140,000, compared to £135,000 and £125,000 previously.