The market’s been buzzing all day about the latest massive salary hike by a US firm. As we reveal today, Weil Gotshal & Manges has raised its newly qualified salary to £90,000 – within shouting reach of London’s other big payers Latham & Watkins (£96,000) and Cleary Gottlieb Steen & Hamilton (£92,000).
Good news so far for the firm’s junior lawyers in London.
So why don’t people fancy the Americans as employers? When The Lawyer teamed up with YouGov earlier this year, we conducted the profession’s largest-ever survey of its kind, with nearly 3,000 people responding. And when asked who were the most attractive employers, the US firms lagged behind with a wincingly embarrassing 6 per cent approval rating. See story and add your thoughts to the debate.
So how can the US firms overcome this? Well, they can always start by throwing money at the problem.