View Allen & Overy’s 2018 salaries for trainee lawyers and NQ solicitors here.
Allen & Overy has raised its salaries for New York associates to match the Cravath pay scale.
Cravath raised its salaries for first year associates to $180,000 earlier this month, prompting a host of firms to follow suit.
Among the magic circle, Clifford Chance has already hiked its salaries in New York to match Cravath.
The news means Allen & Overy’s New York lawyers will earn far more than their London counterparts. The firm brought in external help to review its salaries last year. Newly-qualifieds in London are paid £78,500. Associates with one year of post-qualification experience (1PQEs) receive £92,000 while 2PQE associates currently take home £104,500. The firm’s London pay rises for 2016 have not yet been announced, however.
Firms that have increased pay for London newly qualified solicitors to £124,000, equivalent to the US $180,000 pay scale, include Cadwalader Wickersham & Taft, Latham & Watkins, Milbank Tweed and Kirkland & Ellis.
|
A&O Class Year |
Base Salary |
|
2016 |
$180,000 |
|
2015 |
$180,000 |
|
2014 |
$190,000 |
|
2013 |
$210,000 |
|
2012 |
$235,000 |
|
2011 |
$260,000 |
|
2010 |
$280,000 |
|
2009 |
$300,000 |
|
2008 |
$315,000 |
