Six TCs on offer at both firms in 2023
New York-headquartered duo Willkie Farr & Gallagher and Davis Polk & Wardwell have confirmed increases to their London training contract offerings.
The boost means that Willkie, which took on just three trainees in 2021, is now offering five training contracts in September 2022 and six in 2023.
The firm hiked salaries for trainees to £55,000 in year one and £60,000 in year two in January. At the same time it confirmed salaries for its newly qualified (NQ) solicitors would move to a hefty £145,000.
Meanwhile, Davis Polk has confirmed it will increase its rookie ranks from four to six in August 2023.
Last month the outfit raised year one trainee pay to £60,000, rising to £65,000 in year two. The firm also boosted its NQ base pay to an eye-watering £160,000.
A look at our Firms Most List 2022 shows that the London offices of US firms traditionally have much smaller trainee intakes compared to their UK headquartered counterparts. Most US firms have UK training contract offerings in the single figures, while the five magic circle firms recruit a combined 445 trainees each year.