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.
|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|