Quinn Emanuel has boosted pay for its newly qualified lawyers in London to £180,000, in the latest sign that a war for talent among City law firms is heating up again.
The US litigation-focused firm is increasing base salaries for newly qualified lawyers by 18 per cent, according to a statement from the firm on Friday. Quinn Emanuel has also increased associate pay for other lawyers, with its most senior associates receiving a bump of between 20 and almost 30 per cent, to as much as £355,000.
The salary changes come after UK “magic circle” law firm Freshfields Bruckhaus Deringer announced last week it had increased base pay for new solicitors by 20 per cent from May 1, to £150,000. The move is expected to spark pay rises at rival firms, according to recruiters, with Clifford Chance set to review salaries in the summer.
Remuneration for junior lawyers has significantly increased in London over the past five years as US firms have grown their presence in the City, driving up the competition for talent.
Read more. https://www.ft.com/content/ef867f10-33d5-4d7d-8bd0-3a91d97049ed
