Ropes & Gray has boosted its salary for newly qualified solicitors to £130,000.
It is a £10,000 pay rise on what the US firm was previously paying, and brings it level with rival firms including Latham & Watkins and Weil Gotshal & Manges.
The new pay packet is still some way off the top of the market for NQs – Akin Gump and Kirkland & Ellis pay £150,000 in London; however it far outstrips anything offered by a UK-founded firm.
The firm has also announced its spring 2020 retention rate: it will keep on two of its three final-seat trainees, in its litigation and data privacy practices.
Since the launch of the firm’s London office in 2010, Ropes & Gray has grown to 125 lawyers, including 23 partners, in the City. Its London co-managing partner Mike Goetz retired from the firm in January after a decade at the helm of the office.