White & Case has raised its salaries for associates across the board, becoming the latest US firm to do so.
Newly qualified (NQ) pay has risen by almost 17 per cent from £90,000 to £105,000. One-year PQE associates will now get £110,000 compared with £95,000, an increase of 16 per cent, while salaries for two-year PQE are set to rise by 18 per cent from £101,000 to £120,000.
At 3PQE and above associate salaries at White & Case are discretionary. The firm added that the discretionary would be “as competitive as those detailed in the legal salary grid”.
Trainee salaries have also increased by £2,000 for both year one (now at £46,000) and year two (£50,000) trainees.
White & Case currently has around 400 lawyers in London, including 75 trainees. Following an expansion of its London trainee solicitor programme, the firm now recruits approximately 50 trainees into the programme each year.
A White & Case spokesperson said the opportunities offered by White & Case were “highly attractive” to lawyers in London.
“Student debt, increasing inflation and the high cost of living in London make competitive remuneration key for the brightest young lawyers in considering their career options,” added the spokesperson. “In this environment, and following discussions with partners and feedback from our London employee committee, White & Case has significantly increased its legal salary grid for 2017 in London, including an increase for our trainees.”
Earlier this month Shearman & Sterling raised its NQ salaries by more than 10 per cent from £95,000 to £105,000.
Earlier this week The Lawyer’s new Top 50 US firms in London report confirmed that White & Case is the largest US firm in the capital by revenue, with a 2016 turnover of $290m.