Hogan Lovells ups NQ pay to £145k ahead of Cadwalader merger

Hogan Lovells has increased its newly-qualified solicitor pay from £140,000 to £145,000 ahead of its merger with Cadwalader.

In a statement shared with Non-Billable, the firm said: “Following our annual London salary review and after careful consideration, we have increased base salaries for our newly qualified lawyers in London from £140,000 to £145,000, with effect from 1 May 2026.

“Base salaries are only one component of lawyer remuneration. We operate a total compensation approach that includes a competitive bonus scheme that considers both chargeable work and other contributions to the firm and our values.”

Post-merger pay gap

The move comes ahead of the firm’s merger with Wall Street firm Cadwalader, which follows the Cravath scale and will continue to pay its London associates in line with its US business post-merger.

This means that following the combination, London associates at Hogan Lovells will earn less than their new peers arriving from Cadwalader.

Cadwalader NQs in London currently earn around £170,000, depending on exchange rates, a figure significantly higher than Hogan Lovells lawyers even post-increase. 

Hogan Lovells also said in its statement: “Our associate pay structures are aligned in the US markets. They differ in London as Cadwalader lawyers are compensated in line with New York pay scales and billable hours targets. 

“After the combination, the combined firm will be focussed on ensuring we continue to reward all our lawyers with comparable contributions and performance fairly and competitively across the markets in which we operate.”

Hogan Lovells’ new NQ salary brings it in line with Baker McKenzie and HSF Kramer, but remains £5,000 behind the Magic Circle benchmark of £150,000.