Up 10%
US law firm Fried Frank has entered the London pay war with an improved salary of £175,000 for its newly qualified (NQ) associates.
The New York headquartered outfit has moved the already hefty pay packets of its NQs to a dollar-pegged £175,000, a rise of nearly 10% or £15,000 from £160,000.
The Legal Cheek Firms Most 2024 shows this fresh increase puts Fried Frank near the very top of the NQ pay table, with only Akin and Milbank offering slightly more (roughly £177,500).
Fried Frank recruits just four UK trainees each year on a starting salary of £55,000, rising to £60,000 in year two.
A raft of firms have increased pay for their juniors lawyers in recent weeks. As reported by Legal Cheek, Paul Hastings and Ropes & Gray moved to £173,000 and £165,000 respectively, while fellow US player Weil raised to £170,000. Elsewhere, White & Case, which offers 50 training contracts each year, confirmed increases for both trainees and NQs with the latter now earning salaries of £150,000.