A&O hikes NQ salaries to record £81K

Allen & Overy has increased its trainee and newly qualified salaries to £44,000 and £81,000 respectively.

This marks a 4.7 per cent increase for trainees from £42,000 and a 3.1 per cent raise from £78,500 from the last reported figures in London.

Associates with one year of post-qualification experience (1PQEs) received £92,000 while 2PQE associates took home £104,500.

Last year, the firm raised its salaries for New York associates to match the Cravath Swaine & Moore scale at $180,000.

A&O said that the trainee rates were increased effective 1 May 2017, and apply to those who qualified in September 2017.

Earlier this year, Ashurst revealed increases with NQs taking home £72,000 and first-seat trainees taking £42,000, while Jones Day raised NQ salaries to £100,000Hogan LovellsShearman & SterlingNorton Rose Fulbright and Akin Gump are among the other firms that have announced their pay rises recently.