Leading legal firms including Linklaters, Clifford Chance, A&O Shearman and Freshfields Bruckhaus Deringer have all boosted salaries for graduates by 20 per cent this month.
Newly qualified lawyers' salaries at top firms have risen 50 per cent in five yearsBosses have criticised rival elite firms for giving their junior lawyers 'insane' pay rises, with some graduates on salaries starting at £150,000-a-year.
Competition with US firms with London bases has grown fierce, with companies across the pond now paying £180,000 to their newly qualified lawyers . Top US companies' salaries for junior lawyers start at $225,000 or £176,000 per annum in London, in line with their counterparts in the US. Further pressure is heaped on UK firms by the fact that some US organisations do not offer training contracts in London.
He said the pay boosts would mean NQs would have to work 'extraordinarily hard', potentially impacting both their personal lives and standard of work.
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