Exclusive: Highest paid rookies
The London office of US law firm Milbank has increased trainee pay to record levels for the City, with trainees earning £70,000 in year one, rising to £75,000 in year two.
The Legal Cheek Firms Most List 2026 shows the move up from previous rates of £65,000 and £70,000 puts Milbank’s rookies at the very top of the pay table. Other elite US firms still pay at those rates — £65k and £70k — though at least some are expected to follow suit.
The trainee rises come in the same week Milbank announced it had increased newly qualified salaries in both the US and London to $235,000, equivalent to roughly £175,000. Only a handful of elite US firms pay their junior lawyers more, among them Davis Polk, Gibson Dunn, Paul Weiss and Willkie, which all pay £180,000.