London Law Firms Compete for Top Talent: NQ Salaries Soar to Keep Pace with Demand
Allen & Overy has increased the salary for newly qualified (NQ) lawyers to £125,000 ($174,000), matching the pay rates at Magic Circle firms Clifford Chance, Freshfields and Linklaters. NQs in the London office have seen a 16% pay increase from £107,500 as of 1 May. Slaughter and May is the only Magic Circle member paying a lower NQ salary, at £115,000.
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