Goodwin’s first year trainees are now on a salary of £52,000, up 13% from £46,000, while second year trainees are set to earn £57,000 each year, a rise of 14% from £50,000. The pay rises came into effect this month.
The pay rise surpasses those recently announced by magic circle firms Freshfield, Clifford Chance, and Slaughter and May. Pay for junior recruits at these firms currently sits at £50,000 for first years and £55,000 for second years. However, Goodwin’s new rates still fall slightly short of the highest paying firm, Davis Polk & Wardwell, which pays out £57.5k to first years, while second years receive an impressive £62.5k.
Each year, Goodwin offers 14 training contract places in London. Trainees who qualify and stay on at the firm can expect to see their salaries more than double to £147,000.
