Shearman maintains NQ salary gap with Magic Circle as pay rises 6% to £88,000 while trainees get 15% boost Legal Business27 May 2015PaySalaries The first US firm to release its London salaries for the new financial year, Shearman & Sterling has maintained the salary gap it holds over Magic Circle rivals, offering newly-qualified lawyers (NQs) £88,000 a year, £5,000 more than in 2014.Your limit of 1 article in 30 days is up. Please login for full access or subscribe. Corporate users - click here for simple access (no password needed). For more information, please contact [email protected] Related ContentMore in this categoryThirty firms win roles in revamped £820m government legal panel – with three new appointmentsA&O Shearman’s first post-merger accounts reveal scale of pension deficit and partner capital injections‘Anything that begins with admin is at risk’ – the pressures fuelling firms’ business services cuts‘Setting ourselves up for the future’ – McDermott ups London trainee pay to £70kSlaughter and May matches magic circle peers with NQ pay hike to £150k‘At the top of UK associate compensation’ – McDermott hikes London NQ pay to $225k‘After Lehman collapsed, salaries still went up’: Magic Circle NQ pay rises as market coolsTime for a reality check on salaries‘US firms have more buying power’ – Allen & Overy tight-lipped as partnership ushers in lockstep reform