US law firm Sidley Austin has increased the salaries of its junior lawyers in London.
Newly qualified (NQ) solicitors will now earn a base salary of £148,500, up 8% from £137,500.
Those higher up the associate scale will also receive pay rises; a 2019 qualifier will receive a salary of £156,000 and a 2012 qualifier £272,000.
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The salaries have been calculated using a USD to GBP exchange rate of 1.38, according to a memo seen by Legal Cheek. They are effective from 1 July 2021.
“We are grateful for your ongoing dedication and performance, which continues to enable us to provide our clients with the highest quality of professional service and contribute to the firm’s success,” the memo read. “Your extraordinary efforts this year are an outstanding example of our commitment to teamwork, collaboration and superior client service.”
Law firms on both sides of the pond have been waging a pay war for associate talent.
Last week Legal Cheek reported that Simpson Thacher had upped US and London salaries to the new coveted rate of $205,000, after Milbank and Davis Polk previously set down salary markers of $200,000 and $202,500, respectively.