Source: Financial News
Fried Frank is the latest US law firm to raise salaries for its junior lawyers in an escalating battle for talent.
The firm has boosted its pay for newly qualified solicitors from £160,000 to £175,000 — a rise of 9%, according to people familiar with the situation.
A raft of US law firms have recently increased salaries for their London associates. Paul Hastings boosted pay for its NQ lawyers from £164,000 last year to £173,000 this year, Financial News reported, while Ropes & Gray increased salaries from £147,000 to £165,000 — a 12% rise.
Earlier this year, Davis Polk hiked salaries for its NQ lawyers from £165,000 to £170,000, while Cleary Gottlieb lifted pay from £160,000 to £164,500 — an increase of 3% for both firms.
In December, Weil Gotshal & Manges boosted NQ salaries from £160,000 to £165,000.
Fried Frank has won a series of mandates that in the past year that has bolstered its position in the US and Europe. Earlier this month, Fried Frank was one of the firms that advised infrastructure firm GIP on its acquisition by BlackRock. In March last year, Fried Frank was instructed by UBS on its takeover of Credit Suisse.
Read full article: https://www.fnlondon.com/articles/fried-frank-ups-junior-lawyer-pay-to-175000-20240130
