Weil Gotshal & Manges has joined the swathe of US firms out-paying their UK rivals, increasing associate salaries in London by up to 20 per cent.
The New York firm will increase newly qualified (NQs) salaries in the UK by 20 per cent from £62,500 to £75,000.
This compares with the benchmark of £55,000 for NQs within UK firms, including Clifford Chance and Freshfields Bruckhaus Deringer. Meanwhile, US rival Debevoise & Plimpton is one of the highest paying firms in London, offering NQs £82,000.
Salaries for Weil’s other associate bands will also increase by about £10,000, effective from 1 July, bringing the mid-point of the two years PQE band up to £86,500.
The increases coincide with the launch of an aggressive associate recruitment campaign in corporate in London following a series of losses in recent weeks.