Mishcon de Reya raises newly qualified (NQ) salary to £110,000

Mishcon de Reya has made headlines by increasing its newly qualified (NQ) salary to £110,000, effective from September 2026. This significant hike demonstrates the firm's commitment to attracting top talent in a competitive legal market. Additionally, the firm has raised the salaries of its trainee solicitors, with first-year trainees now set to earn £52,500 and second-year trainees fetching £57,500 starting from July.

Moreover, earlier this year, Mishcon de Reya introduced a new bonus scheme for Associates, Managing Associates, and Of Counsel. These bonuses, available to those who work significantly over their expected hours, will serve as a further incentive to ensure that employees are rewarded for their hard work and dedication. This new initiative is in addition to an existing bonus structure that already recognises high performance. The aim is to attract and retain talented legal professionals while ensuring competitive compensation is available for those providing intensive client support, including the integration of AI in their work processes.

Although the firm has increased pay, it remains committed to its established chargeable hours expectations. This flexibility allows lawyers the option to strike a balance between their professional commitments and personal lives, whether they prefer to focus on work-life balance or extend their hours for additional rewards.

Vanessa Dewhurst, Partner and Chief People Officer at Mishcon de Reya, shared her thoughts, stating “Our people are at the heart of our growth, our culture and our success and rewarding them fairly, competitively and sustainably is at the core of our strategy. Each year we assess how to provide a remuneration package that aligns with the firm's growth and to ensure that we continue to attract the brightest talent in the market. These increases, along with the additional bonus scheme, ensure we can competitively reward both the financial contributions and wider contributions that create long-term value for the firm and clients.” This comprehensive approach to remuneration underscores the firm's intent to sustain its position as a leading employer in the legal sector.