Cadwalader Wickersham & Taft has become the latest US law firm to hike its salaries for newly qualified solicitors to £124,000.
The firm is matching the scale set by New York firm Cravath Swaine & Moore last week and followed by a host of US firm in London.
Lawyers with one year of post-qualification experience will be paid £130,500 and 2PQEs £144,500.
Other firms to adopt the Cravath scale for their London lawyers include Kirkland & Ellis, Milbank Tweed, Latham & Watkins and Davis Polk.
| Level | New York pay scale | London pay scale |
| 1st year associate /NQ | $180,000 | £124,000 |
| 2nd year associate /1PQE | $190,000 | £130,500 |
| 3rd year associate /2PQE | $210,000 | £144,500 |
| 4th year associate /3PQE | $235,000 | £161,500 |
| 5th year associate /4PQE | $260,000 | £179,000 |
| 6th year associate /5PQE | $280,000 | £192,500 |
| 7th year associate /6PQE | $300,000 | £206,000 |
| 8th year associate /7PQE | $315,000 | £216,500 |
