£165k for 5PQE
US law firm Katten Muchin Rosenman has raised pay for its London newly qualified (NQ) lawyers to £115,000.
A 6.5% increase from the previous figure of £108,000, the outfit now moves ahead of Travers Smith and K&L Gates on £110,000 to draw level with Ashurst and Macfarlanes.
The firm has also confirmed raises for those further up the ladder. Lawyers with one, two and three years post qualification experience (PQE) will now earn £125,000, £135,000 and £145,000 respectively, while those with four will receive £155,000. Those at 5PQE are now on £165,000.
Each year the outfit offer its three trainees £50,000 in year one of their training contract, rising to £55,000 in year two. The most recent qualifying cohort were all retained by the firm
Earlier this month Norton Rose Fulbright raised its NQ pay up to £120,000, with US outfit Gibson Dunn also increasing its pay to take the crown for highest NQ salary with a whopping £180,000.